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International Internet Magazine. Baltic States news & analytics Wednesday, 21.08.2019, 17:46

Estonian Merko to build 6 apartment houses near Vilnius Old Town

BC, Vilnius, 06.09.2018.Print version
UAB Merko bustas, a company of the listed AS Merko Ehitus group, has started work on the Vilneles slenis residential development project on the outskirts of the Old Town of Vilnius, at the address Pakrascio st. 20, Merko told the stock exchange.

The start of the construction of six residential buildings is scheduled for September 2018 and completion is due in the first half of 2020.

The six buildings will vary from four to six stories in height and all the 221 apartments inside the buildings will have spacious balconies, with top floor residents able to enjoy views on the Belmontas hills and the river from roof terraces. The apartments of the energy class A+ buildings will be equipped with an air-recuperation system providing fresh air and ensuring inconspicuous air distribution.

Underground parking includes bicycle storage rooms and charging stations for electric cars. The size of the apartments varies from 35 to 107 square meters and the price per square meter ranges from 1,800 to 3,000 euros.

Vilneles slenis is located in the territory of the unique "architectural park" initiated by the Vilnius mayoralty, offering a connection between the Old Town and nature. It will be part of a new modern district with well-developed infrastructure and community.

The cost of the project was not disclosed.

The AS Merko Ehitus group consists of Estonian construction company AS Merko Ehitus Eesti, the Latvian-market-oriented SIA Merks, UAB Merko Statyba that is operating on the Lithuanian market, Peritus Entreprenor AS construction company in Norway and the real estate development business unit along with real estate holding companies. As at the end of 2017, the group employed 757 people, the group's revenue was 317.6 mln euros and profit totaled 6.1 mln euros in 2017.

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