Commentary on information published in media (SIA Merks real estate development plans)

Today, on 15 January 2020, information has been published in the media concerning the plans of SIA Merks, part of AS Merko Ehitus group, on real estate developments in Riga (BNS: “Merko’s Latvian subsidiary invests 260 million in real estate projects” (original: „“), Postimees: “Merko invests quarter of a billion on Riga islands” (original: „“), Latvijas Sabiedriskie Mediji: “Merks plans to invest more than 260 million euros to Zakusala and Lucavsala developments” (original: „“)).

We emphasise that the development and investment volumes mentioned in these articles are preliminary estimations and subject to change. Merko Ehitus issues stock exchange announcements about the actual volumes of the developments and their timeframes as the respective decisions have been made and the development works are started.

Priit Roosimägi

Head of Group Finance Unit

AS Merko Ehitus

AS Merko Ehitus () group consists of Estonia’s leading construction company AS Merko Ehitus Eesti, the Latvian-market-oriented SIA Merks, UAB Merko Statyba operating on the Lithuanian market, and the Norwegian construction company Peritus Entreprenør AS. Besides provision of construction service as a main contractor, the group’s other major area of activity is apartment development. As at the end of 2018, the group employed 764 people, and the group’s revenue for 2018 was EUR 418 million.