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International Internet Magazine. Baltic States news & analytics Tuesday, 04.08.2020, 10:34

Estonia: Merko to build Hilton hotel in Tallinn

BC, Tallinn, 12.02.2020.Print version
AS Merko Ehitus Eesti, part of the listed Estonian construction group Merko Ehitus, and GVP Invest Estonia OU on Wednesday entered into a 8.9 million euro contract for the construction of a hotel building located at 49 Tartu Road in Tallinn. The contract includes construction of a six-storey hotel building, which will operate as the first Hampton by Hilton hotel in the Baltic states, Merko told the stock exchange.

The contract value is approximately 8.9 mln euros, plus value added tax. The building is scheduled to be completed in December 2021.

At present a retail compound converted from a Soviet-era cinema lies on said plot belonging to GVP Invest Estonia, a holding of Mindaugas Bagdonavicius, minority shareholder of Maxima owner Vilniaus prekyba and former CEO of Maxima Grupe.

Merko Ehitus Eesti is an Estonian leading construction company, which offers construction services in general construction, civil engineering, road, electrical and residential construction.

The Merko Ehitus group consists of AS Merko Ehitus Eesti in Estonia, SIA Merks in Latvia, UAB Merko Statyba in Lithuania and Peritus Entreprenor AS in Norway. 

Besides providing construction service as a main contractor, the group's other major area of activity is apartment development. As at the end of 2018, the group employed 764 people, and the group's revenue for 2018 was 418 mln euros.

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