The management board of Nordecon AS (the “Company”) (registry code 10099962, address Toompuiestee 35, 10149 Tallinn) hereby convenes an extraordinary general meeting of shareholders, which shall be held on 29 November 2023 at 10:00 am at the Radisson Blu Hotel Olümpia conference centre at…
At the 7 November 2023 meeting of the supervisory board of Nordecon AS (hereinafter the “Company”), it was decided that the Company’s 52% majority holding in OÜ Nordecon Betoon (hereinafter also the “Private Limited Company”) will be sold in full…
MANAGEMENT REPORT CEO summary Q3 2023 marks as a continuation of the newly started developments of AS Pro Kapital Grupp. Real estate development In Tallinn, the decision taken earlier in the year on starting the construction and sales of Kalaranna…
On November 3, 2023, the subsidiary of Hepsor AS, Hepsor VT49 OÜ, acquired two properties located at the following addresses: Harju County, Rae Parish, Peetri Village, Kodu tee 9a, and Harju County, Rae Parish, Peetri Village, Vana-Tartu mnt 49. The…
Nordecon AS and Rotermann Pluss OÜ, the owner of the Golden Gate office building being developed by US Real Estate, entered into a contract for the design and construction of the office building in Tallinn, located at Ahtri 6. The…
COMMENTARY FROM MANAGEMENT Q3 2023 revenue for Merko Ehitus was EUR 122 million and for the nine months was EUR 340 million. Net profit in Q3 was EUR 12.7 million and net profit for the nine months increased to EUR…
AS Nordecon group company Nordecon Betoon OÜ (brand name NOBE) and Bioforce OÜ signed a contract for the design and construction of the Laatre biomethane plant in Laatre, Valgamaa. The total value of the contract is approximately 3 million euros…
Economic environment The rapid changes in the construction market due to the economic environment have continued, complicating the growth plans of companies and other related industries in the sector, and limiting their courage to act. Coping with difficult circumstances and…
On 31 October 2023, AS Merko Ehitus Eesti, part of AS Merko Ehitus group, signed a contract with the Centre for Defence Investment for the construction of barracks in the Ämari military campus of the Defence Forces in Harju county.…
In Q3, GDP dropped 2.5% y/y in real terms and remained on the same level compared with the previous quarter (swda), according to the flash estimate of Statistics Estonia. The GDP flash estimate was close to our expectations. Estonian GDP…
Baltic Horizon Fund announced on 8 May 2023 of completion of the non-public subscription of 5-year bonds worth EUR 42 million and the intention to list the bonds on Nasdaq Tallinn stock exchange. On 1 August 2023 Baltic Horizon Fund…
On 16 October 2023, AS Merko Ehitus Eesti, part of AS Merko Ehitus group, and Jalaka Kinnisvara OÜ, part of OÜ Ritola group, entered into an additional works agreement, which supplemented the contract for the construction of a factory building.…
The Supervisory Board of AS Merko Ehitus Eesti, part of AS Merko Ehitus group, decided to extend the powers of the Members of the Management Board, Mr. Jaan Mäe and Mr. Veljo Viitmann from 1 January 2024 for three years.…
On 5 October 2023, AS Merko Ehitus Eesti, part of AS Merko Ehitus group, and Estma HPT OÜ entered into a contract for the construction of the second stage of hotel and office building located at Sadama 4, Tallinn. The…
On October 5, Merko Ehitus group’s 100% subsidiaries OÜ Merko Kodud and AS Merko Ehitus Eesti signed a division agreement, according to which real estate development activities along with the corresponding assets and liabilities will be transferred to OÜ Merko…
