Construction, Estonia, Good for Business, Lithuania, Real Estate

On 19 December 2014, UAB Merko Statyba, which is a part of AS Merko Ehitus group, entered into a joint contract with UAB Prodo and UAB Baltic Petroleum, to perform the construction works of residential complex with office premises at Algirdo str. 42/Kauno str. 16 in Vilnius. Under the contract, UAB Merko Statyba will build a whole new block consisting of 9 buildings with common underground parking, with the total gross area of over 41,000 m².

The value of the contract is approximately 15 million euros, plus value added tax. The start of construction works is scheduled in January 2015 and the completion is scheduled for beginning of 2017.

AS Merko Ehitus comprises the leading Estonian construction company AS Merko Ehitus Eesti, the Latvian market based SIA Merks and the Lithuanian market based UAB Merko Statyba as well as the group’s real estate development business unit together with companies holding real estate properties. As at the end of 2013, the group employed 860 people and the 2013 revenue amounted to EUR 262.7 million.