The ride-hailing and rental platform, currently headquartered in the Kawe Quarter in Veerenni, has been searching for new office space for some time, newspaper Äripäev reported Monday (link in Estonian).

Of dozens of sites considered, negotiations with the long-stalled Porto Franco development on Tallinn's waterfront have advanced the furthest and are now in their final stage, pending a decision, the paper reports.

Porto Franco owner Rauno Teder declined to confirm Bolt's potential move. "We do not comment on such rumors," he told ERR Monday.

Nonetheless, he acknowledged that the development is actively seeking a large anchor tenant and continuing preparatory work on the project.

Bolt also stopped short of confirming any relocation plans, with PR lead Kaarel Kook saying the company has not yet reached any agreement on a new headquarters location.

"At the moment, we have not signed any agreements regarding a new office," he said.

Construction at Porto Franco has been stalled for some time and remains on hold. Teder said progress on the waterfront development hinges on a chain of factors — landing a major tenant, restarting construction and completing sections of the complex — but would not provide an estimate for when it might be finished.

"That would be speculation," he said.

Äripäev reports that financing remains Porto Franco's biggest obstacle. After a corruption scandal that concluded in the Supreme Court last February, the project lost access to a €100 million loan.

Securing a strong tenant, the paper noted, would significantly bolster the developer's standing with banks.

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