Management Board of Northern Horizon Capital AS has approved the unaudited financial results of Baltic Horizon Fund (the Fund) for the six months of 2025. Challenges in Executing our Strategy Our strategy emphasizes developing governmental and social tenant concepts and centrally…
COMMENTARY FROM MANAGEMENT Merko Ehitus generated revenue of EUR 83 million in the second quarter of 2025 and EUR 168 million in the first half of the year. Net profit for Q2 amounted to EUR 11.2 million, while net profit…
The Estonian economy continues to grow slowly, with the latest forecasts estimating annual economic growth at 1.2%. The construction market is showing signs of stabilisation. Within the buildings segment, there are indications of a slight increase in orders from the…
Arco Vara AS announces its intention to issue bonds in September 2025. The exact terms and timeline of the offering will be published shortly. The purpose of the public bond offering is primarily to finance a new development project –…
In the first half of 2025, in both Q1 and Q2, the market continued to recover. In addition to the contracts under the law of obligations (sales contracts), there was also strong interest in paid reservations in new projects. During…
Fund Manager’s Commentary In Q2 2025, the Baltic commercial real estate market continued to reflect similar trends as in previous quarters. Transaction activity remained very low, primarily due to a lack of equity capital, and modest economic growth did not…
On 28 July 2025, AS Merko Ehitus Eesti, part of the AS Merko Ehitus group, and Brackmann Arendus OÜ signed a design-and-build contract for the construction of a hotel and entertainment and conference centre in Pärnu at Ranna pst 7…
GROUP CEO’S REVIEW The second quarter of 2025 marked a continuation of the cautious yet gradual recovery in the real estate market. Market stability, the slow decline in interest rates, and the downward trend of Euribor continue to provide a…
Hepsor AS and EfTEN Special Opportunities Fund’s joint venture Hepsor SOF OÜ entered into a real right contract on 21 July 2025, acquiring the properties at Narva mnt 150 and Narva mnt 150a. The properties were purchased from Hepsor Group…
After nearly twenty years of successful business activity in the Bulgarian real estate market, the Management Board of Arco Vara AS has initiated a strategic exit process, with the ultimate goal of a complete withdrawal from the Bulgarian market. The…
Eesti Panga juhatus pani Maardu mõisakompleksi müüki alghinnaga 2 miljonit eurot. Müügi nõustajaks ja korraldajaks valis keskpank kinnisvarafirma Colliers International Advisors OÜ. “Maardu mõisa omamine ei sobi kokku tõhusa organisatsiooni põhimõttega, kuna keskpank kasutab seda kompleksi üsna harva. Olen kindel,…
On July 9, 2025, Hepsor Phoenix 4 OÜ, a subsidiary of Hepsor AS, and the construction company Mitt & Perlebach OÜ signed a contract for the construction of the development project named M12, located at Manufaktuuri 12 in Tallinn. The…
Luminor pank rahastab Tallinna kesklinna Lembitu tänavale kerkiva uue Marriotti hotelli ehitamist. Järgmise aasta kevadel valmiva neljatärnihotelli kogumaksumus on ligi 16,6 miljonit eurot, millest Luminori finantseering moodustab 8,5 miljonit. Hotelli rajab ettevõte Hotell L4 OÜ ning seda hakkab opereerima Legendhotels…
Rahvusvaheliselt tunnustatud ajakiri Monocle nimetas Tallinna oma 2025. aasta elukvaliteedi edetabelis maailma parimaks linnaks idufirmadele. Ajakiri tõstab esile Tallinna tugevat digitaristut, Eesti e-residentsuse programmi, ettevõtjasõbralikku keskkonda ning taskukohast hinnataset. Monocle toob esile, et Tallinnas on lihtne ettevõtlusega alustada ning toetav…
Nordecon AS and its subsidiary Embach Ehitus OÜ as joint bidders and the Estonian Centre for Defence Investments have signed a contract for the design and construction of defence-related facilities. The contract is valued at 34.3 million euros, plus VAT,…
