Merko Group

We have been and continue to be successful. In 33 years, we have built quality homes for more than 10,000 families in Tallinn, Tartu, Riga and Vilnius. We are one of the most prestigious residential developers in the Baltic countries and our development projects have been recognised with numerous awards. We are appreciated for our reliability, high quality, prestigious locations, professionalism, and good planning.

We are appreciated for our reliability, high quality, prestigious locations, professionalism, and good planning.

We create homes and strive to place particular emphasis on the living environment throughout the development area and address the different needs of families as close to home as possible. A good example is our Veerenni residential quarter in Tallinn, with its playground and sports fields, park area and gym for residents. For commercial space on the first floors of Vilnes Skverai apartment buildings in Vilnius, we have selected companies that provide services needed by residents.

While in the recent past our main problem was that we were not able to prepare new developments in sufficient quantity and at sufficient speed, to respond to high demand, the market situation has changed. In 2020, at the start of the epidemic, the setback was short-lived and demand picked up after a few months. The market recovered quickly. Today, however, with buyer confidence down, while input prices have risen across the board and interest rates will likely not drop significantly in the near future, we do not see a rapid growth in demand on the apartment market.

In the near future, we will be facing totally different kinds of challenges. We have to adapt, keep up with new trends, be innovative and inventive, develop products and services and our Merko homes brand (home with a lower case letter, be it kodu in Estonian, mājas in Latvian or būstas in Lithuanian). I would like to mention the work of our Latvian colleagues, who have contributed a great deal to the Merks mājas brand, which is today one of the strongest local apartment developers. We need to significantly strengthen our sales support, marketing to different customer segments, improve our developments’ websites and other materials, and do active sales. Timing is becoming a very important factor. We must maintain liquidity and can’t get too far ahead of ourselves in developing projects. At the same time, we can’t sit passively. As demand grows, we must be able to offer a selection of new, appealing products that meet customers’ expectations. We also need to anticipate changes on the market: for example, why not invest in developing rental properties, which we have launched in Veerenni as a pilot.

To ensure the best quality, we manage the entire development process from planning, design and construction to sales and warranty service. This is our strength. Like anywhere and always, it is important to keep the focus on cooperation between our different departments, companies and countries. Effectiveness is born out of closer cooperation. Many areas are universal – there’s no point in reinventing the wheel but rather seeing if the wheel already exists, and then use it and improve it.

Like anywhere and always, it is important to keep the focus on cooperation between our different departments, companies and countries.

We have a strong portfolio of future development projects, such as the new phases of Veerenni and Lahekalda in Tallinn, projects in the outskirts of Tallinn, large residential areas on the Lucavsala and Zaķusala islands in Riga and the Žirmūnų and Daugeliskio projects in Vilnius. Thousands of new families will move into Merko’s high-quality homes, whether at a faster or slightly slower pace. Good luck and success in an ever-changing world!

Forward together as one Merko, in a friendly spirit and with open communication!