Merko Ehitus: Company Announcement

Merko EhitusConstruction contract in Estonia (below grade construction works of Liivalaia business and residential complex, Tallinn)

On 8 February 2021, AS Merko Ehitus Eesti, part of AS Merko Ehitus group, and OÜ Tiigiveski Arendus, part of AS Kapitel group, have entered into a contract to perform construction works of Liivalaia business and residential complex at Liivalaia St. 34 and 36, Tallinn.

The contract includes below grade construction, i.e. below ground level construction works together with construction of external networks. The contract value is approximately EUR 14 million, plus value added tax. The below grade construction works will take approximately 19 months.

The Liivalaia Business and Residential Complex with the gross area of 77,000 m² and leasable area of 36,000 m² comprises of three buildings and a parking house connecting them. According to the developer’s plans, the 9-storey residential building with 3,000 m² of rental apartments will be completed in January 2024; the 15-storey office building with the leasable area of 9,000 m² will be completed in May 2024; and the 28-storey office building with the leasable area of 19,000 m² will be completed in August 2024. There will be 5,000 m² of various catering and services areas; a two-storey underground parking garage and a parking house will have in total of 470 parking spaces together with Estonian largest indoor bicycle parking.

Nearly zero energy buildings have been designed based on level Excellent of the international BREEAM standard. In addition to the new
´buildings, the developer will build two new access roads, a public park and a green zone.

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