Formation of a joint venture for the development of residential buildings in Tartu

On 25 August 2025 OÜ Merko Kodud, a member of the AS Merko Ehitus group, and OÜ Giga Investeeringud established a 50:50 joint venture, Turu 18 Kodud OÜ.

The goal of the joint venture is to build three residential and commercial buildings, and a modern and versatile urban space surrounding them, on the Turu 18 property in the centre of Tartu.

The Turu 18 landplot, which is attractively located by the river Emajõgi, has a planned above-ground construction volume of approximately 16,800 square meters. The three planned buildings are connected by a common parking floor.

OÜ Merko Kodud () is Estonia's best-known and most trusted residential real estate developer. To ensure the best quality, convenience and assurance for home buyers, Merko manages all phases of the development: planning, design, construction, sales and warranty service.

OÜ Giga Investeeringud () is an Estonian company engaged in the rental and development of commercial and residential real estate.

Additional information: CEO of OÜ Merko Kodud, Mr. Indrek Tarto, phone: .

Urmas Somelar

Head of Finance

AS Merko Ehitus

AS Merko Ehitus () group companies construct buildings and infrastructure and develop real estate. We create a better living environment and build the future. We operate in Estonia, Latvia, and Lithuania. As at the end of 2024, the group employed 605 people, and the group’s revenue for 2024 was EUR 539 million.