Construction contract in Estonia (Hyatt hotel building in Tallinn)

On 25 May 2023, AS Merko Ehitus Eesti, part of AS Merko Ehitus group, and Estma HPT OÜ entered into a contract for the construction of the first stage of hotel and office building located at Sadama 4, Tallinn.

The contract includes construction of 6-storey building with one underground floor, the building will operate as Hyatt hotel and accommodate offices.

The contract value is approximately EUR 11.1 million, plus value added tax. The first stage of the construction works is scheduled to be completed by the end of 2024.

AS Merko Ehitus Eesti () is Estonian leading construction company, which offers construction services in general construction, civil engineering and residential construction and develops residential real estate. To ensure the best quality and convenience for home buyers, Merko manages all phases of the development: planning, design, construction, sales and service during the warranty period.

Additional information: AS Merko Ehitus Eesti Chairman of the Management Board, Mr. Ivo Volkov, tel. .

Urmas Somelar

Head of Group Finance Unit

AS Merko Ehitus

AS Merko Ehitus () group companies develop real estate and construct buildings and infrastructure. We create a better living environment and build the future. We operate in Estonia, Latvia, Lithuania and Norway. As at the end of 2022, the group employed 661 people, and the group’s revenue for 2022 was EUR 410 million.