With interest rates falling faster than expected and wage growth remaining strong, housing affordability gradually improves. Both factors will continue boosting affordability and demand in Latvia and Lithuania next year, while Estonia will rely solely on lower rates. Favourable inflation…
EfTEN Real Estate Fund AS (registry code 12864036, address A. Lauteri 5, 10114 Tallinn) announces a public offering of shares based on a decision of the fund’s Supervisory Board dated November 11, 2024, and informs about the planned listing and admission…
Estonian Business Schooli (EBS) kõrvale rajatava Eedu haridus- ja ettevõtluslinnaku ehitustöödel alustatakse peagi betoonitöödega. Selle käigus valmib kolme maa-aluse ja kolmekümne maapealse korrusega hoone karkass. Töid teostab ehituse peatöövõtule ja betoonitöödele spetsialiseerunud ehitusettevõte NOBE, kellel on valdkonnas ligi 25 aastat…
EfTEN United Property Fund invests 2.5 million euros (ca 9% of fund AUM) in EfTEN Real Estate Fund 5 aimed at institutional investors. The latter acquires Kristiine shopping centre in Tallinn. Kristiine keskus is one of the best-known shopping centers…
AS Nordecon group company Embach Ehitus OÜ and Lidl Eesti OÜ signed a contract for the construction of a Lidl store located at Riia 1, Viljandi. The total value of the contract is 4.81 million euros without VAT and the…
Nordecon AS and Eesti Rahvusringhääling (Estonian Public Broadcasting) entered into a contract for the construction of the new TV house in Tallinn, located at F.R. Kreutzwaldi tn 14 / Gonsiori tn 21. The new television building is a multifunctional structure…
Management Board of Northern Horizon Capital AS has approved the unaudited financial results of Baltic Horizon Fund (the Fund) for the nine months of 2024. Our strategic ambitions Over the past year, our focus has been on reshaping our strategy to…
At a meeting of the Supervisory Board of Nordecon AS held on 6 November 2024, it was decided that as of 1 January 2025, Priit Luman will be recalled from his position as a member of the Management Board, and…
In the third quarter of this year, the downward trend in the construction market did not experience a significant shift. Forward-looking indicators that characterize both the construction market and the broader macroeconomic environment are contradictory, making it difficult to predict…
COMMENTARY FROM MANAGEMENT Merko Ehitus revenue for the 9 months of 2024 was EUR 379 million and net profit was EUR 44.8 million. Third-quarter revenue was EUR 175 million; net profit EUR 27.3 million. Sales of construction services made up…
On 6 November 2024, AS Merko Ehitus Eesti, part of AS Merko Ehitus group, and the Estonian Centre for Defence Investment signed a design-and-build construction contract for the construction of a National Defence House in the defence forces Raadi campus…
In Q3 2024, Estonian GDP dropped 0.7% y/y in real terms, while it increased 0.1% q/q (seasonally and working day adjusted – swda), according to the flash estimate of Statistics Estonia. The estimate met our expectations. Estonia has left economic…
Although there were no huge positive development leaps in the operating environment, there were still signs of renewed optimism in the residential property market. During the third quarter, we signed 32 contracts under the law of obligation (sales contract; 2024…
Despite the global, geopolitical, and economic headwinds that have battered the Group’s home markets for several years, we have been able to expand our reach this year in Canada and have started the construction and sales of several new projects…
GROUP CEO’S REVIEW The third quarter of 2024 marked a turning point for the Estonian real estate market, which showed signs of stabilization and gradual recovery after a prolonged period of decline. Lowered base interest rates and decreased Euribor had…
