Today, 19.09.2022, EfTEN Real Estate Fund III AS as an acquiring fund and EfTEN Kinnisvarafond AS as a fund being acquired concluded on the basis of the respective resolutions of the supervisory board a merger agreement with the aim of…
On 31.08.2022, the Tallinn City Government initiated the detailed planning of the plot belonging to Arco Vara subsidiary Kodulahe II OÜ, located at Soodi 6. The purpose of the detailed plan is to assign building rights to the property with…
AS Pro Kapital Grupp subsidiary company in Lithuania purchased via auction the Vilnius College building, located in the very centre of the capital city, on Naugarduko street. The acquisition deal, valued at €6.25 million, was completed on August 30th. The…
AS Merko Ehitus Eesti, part of AS Merko Ehitus group, has decided to launch the construction of Tihase residential development project, within which the apartment buildings with a total of 46 apartments and three commercial premises will be built on…
Inflation has so far proven to be both higher and more persistent than previously expected, and central banks were late in taking away the punch bowl. Households around the globe are holding back on consumption as the cost-of-living shock hits…
On 17 August 2022, Merko Bygg AS, part of AS Merko Ehitus group, and Holmenveien 37 AS, part of Pecunia AS group, entered into a contract for the construction three detached houses at Holmenveien 37 in Oslo. The contract value…
MANAGEMENT REPORT CEO summary The second quarter of 2022 continued the trend we have seen in Q1, with a strong demand for real estate assets in the Baltic countries (particularly Estonia and Lithuania). Our available inventory is mainly sold, but…
In the second quarter, the situation in the labor market was still good in Estonia. Employment was high and unemployment low. According to Statistics Estonia, in the second quarter, the unemployment rate was 5.8% and the number of the employed…
Despite the continued difficult external environment, the second quarter and first half of 2022 were overall profitable for the group. The increase in sales revenue also continued, which is largely based on the fulfillment of construction contracts concluded in previous…
COMMENTARY FROM MANAGEMENT Merko Ehitus revenue was EUR 88 million in Q2 2022, and EUR 156 million in H1 2022, while the respective figures for net profit were EUR 4.2 million and EUR 7.2 million. This year, Merko has delivered…
Nordecon Betoon OÜ (brand name NOBE), a Nordecon Group company entered into a contract with OÜ Kastanikodud for the construction of apartment houses located Kastani road 2 // 4 // 6 // 8 // 10 // Lepa road 3 //…
Nordecon AS has launched the second phase of the Kivimäe Süda residential development located in the Nõmme district of Tallinn, in the course of which the building at Kivimäe 27 will be reconstructed and converted into an apartment building. 12…
GROUP CEO’S REVIEW In the second quarter, we reached the moment every real estate developer is waiting for once again, being able to commence the handover of completed homes to our clients in Kodulahe Kvartal, the sales revenue of 41…
All main rates hiked by 50bps, more than markets expected Transmission protection instrument (TPI) introduced The Governing Council raised all three key ECB interest rates by 50bps – more than markets and most economists have expected. As we expected, new…
AS Merko Ehitus Eesti, part of AS Merko Ehitus group, has decided to launch the fourth stage of Erminurme residential development project in Tartu Parish. The stage includes three buildings at Erminurme Road 14, Erminurme Road 18 and Erminurme Road…