MANAGEMENT REPORT Chairman’s summary 2020 has been quite a turbulent year. It will be remembered for the start of the new virus SARS-CoV-2 and COVID-19 pandemic spread. Many economic sectors have suffered. Also, our group operations and results are affected.…
In 2020, Estonian GDP fell by 2.9% in real terms and 3.4% in nominal terms. The result was close to our expectations – our forecast, published in January, was -2.7%. In addition, GDP results for the first three quarters were…
Comment of the fund manager The main economic event of 2020 was not an economic event – unexpected arrival and spread of coronavirus. The virus wave that reached the Baltics in February 2020, closed the economy and put a significant…
SIA Merks, part of AS Merko Ehitus group, has entered into a contract with Jūrmala City Council for the construction of a city park and youth house in Kauguri, Latvia. The works include construction of a new youth house and…
Nordecon’s sales revenue increased by approximately 26% in 2020 compared to the previous year, and this is the largest turnover of the Nordecon Group ever. The volume growth was based on contracts concluded in record volumes in 2019. The construction…
GROUP CEO’S REVIEW Arco Vara’s fourth quarter of 2020 was largely spent on the realisation of pre-sales. There were no significant setbacks in the process of handing over nor final sales of the apartments, for which we had been prepared…
AS Merko Ehitus Eesti, part of AS Merko Ehitus group, has decided to launch the second stage of Erminurme residential development project in Tartu Parish. The stage includes two buildings at Erminurme Road 12 and 16 with 37 apartments, which…
Construction 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…
On 3 February 2021, OÜ Marsi Elu, a company belonging to the AS Pro Kapital Grupp group, and Oma Ehitaja AS signed a contract for the construction of three five-storey building complexes (hereinafter Kindrali Houses) located in Kristiine City, in Tondi.…
Kinnisvaraarendajale Endover kuuluv südalinna oodatuim uusarendus Ambassador saavutas oma tipukõrguse. Neli kuud enne valmimist on korterelamust klientidele müüdud juba 70 protsenti. Hoolimata keerulistest aegadest valmib tänavu aprillis Kompassi väljaku serval Tallinna lähiajaloo üks luksuslikem korterelamu. Ambassadori ruutmeetri hinnad algavad 3200…
On 5 January 2021, AS Merko Ehitus Eesti, part of AS Merko Ehitus group, and OÜ Astlanda Ehitus entered into a contract for conducting concrete works of Tehnopol office building and parking house at Mäealuse 2/4, Tallinn. The contract includes…
Our survey results suggest that around one-half of currently remotely working persons had no telework experience before the Covid-19 crisis hit. Productivity losses were reported by about one-third of respondents, while less than one-fifth managed to improve their work efficiency.…
Third quarter marks a recovery in the housing market Housing affordability remained high throughout the three quarters of 2020. In the third quarter, housing affordability increased in Estonia (+2.8) and Latvia (+4.1), while decreasing in Lithuania (-0.9), compared with the…
Metro Capitalil on kavas Kadriorgu mereäärsesse Kiikri elamurajooni ehitada veel kaks eksklusiivset korterelamut. Hooned rajatakse kvartali mereäärseimale krundile ja projekt tähistab Eesti ühe mahukaima elamukvartali investeeringu viimast etappi. Kiikri 6 aadressile kavandatavad kaks efektse arhitektuuriga viiekorruselist eluhoonet on jätk samas…
In the third quarter of 2020, Estonian economy dropped by 1.9% y/y in real terms (seasonally and working day non-adjusted). Seasonally and working day adjusted GDP rose by 3.3% q/q. The result was close to our expectations. In the first…
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