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Estonian builder Merko starts construction of residential project in Riga city center

BC, Riga, 29.11.2018.Print version
SIA Merks, Latvian subsidiary of listed Estonian builder Merko Ehitus, has started the construction of a 350-apartment residential project in the city center of Riga.

The Merks Viesturdazs project consists of three residential buildings with around 350 apartments in total, the first building with 96 apartments at 25 Rupniecibas Street will be completed in the first half of 2020, Merks told the stock exchange.


The buildings will correspond to energy class A. Each apartment will have a balcony or terrace. There will be a kids' playground in the yard and underground parking with the possibility to install a charging point for electric cars. The size of apartments will range from 36–42 square meter studios to spacious 100–140 square meter four-room and 130 square meter two-storey apartments. The price per square meter will range from 2,400 to 3,200 euros.


SIA Merks is a Latvian construction company, which offers construction services in the fields of general construction, civil engineering and residential construction.


The AS Merko Ehitus group consists of Estonian construction company AS Merko Ehitus Eesti, the Latvian-market-oriented SIA Merks, UAB Merko Statyba that is operating on the Lithuanian market, Peritus Entreprenor AS construction company in Norway and the real estate development business unit along with real estate holding companies.


As at the end of 2017, the group employed 757 people, the group's revenue was 317.6 mln euros and profit totaled 6.1 mln euros in 2017.






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