Lithuania

  • Cornerstone laid for the Radisson Blu Hotel Lietuva extension

    The radiant Radisson Blu Hotel Lietuva on the right bank of the Neris river in Vilnius is expanding, and on 10 May the cornerstone was laid. The hotel property investors, Norwegian real estate development company Linstow AS, the hotel operator Rezidor Hotel Group and Merko Statyba announced that the new project will add an additional …

  • Merko Ehitus increases revenue and profit in Q1

    In Q1 of 2017, Merko Ehitus posted revenue of EUR 58.1 million and a net profit of EUR 1 million. Revenue grew both in Estonia and in other home markets, apartment sales picked up as well. In the first quarter, Merko sold 141 apartments compared to 101 in the same period last year. “Our first …

  • Merko laid corner stone to Vilnius Rinktinės Urban development project

    The Rinktinės Urban residential development in Vilnius city centre comprises three residential buildings, an ibis hotel and two-storey underground parking to connect the entire complex. The hotel will be completed in summer 2018, with the residential buildings in the second half of 2018. “The smart and open city of Vilnius is being renewed and is …

  • Merko’s Q3 revenue stays at last year’s level

    Merko Ehitus posted revenue of EUR 67.8 million in Q3 2016, remaining on par with the same quarter in 2015. As of the nine-month mark, revenue has been held back by the slower than planned launch of large-scale projects. In the first 9 months of 2016, the company sold close to 270 apartments and launched …

  • Merko Ehitus profitability improves in Q2

    In Q2 of 2016, Merko Ehitus posted revenue of EUR 58.7 million, EBIDTA of EUR 3.4 million and profit before taxes of EUR 2.4 million. Gross profit margin increased to 9% in the second quarter and the group’s construction contract order book reached EUR 279 million. The Baltic construction market – in a slump with …

  • Merko Ehitus subsidiary acquires majority holding in Norwegian construction company

    Merko Ehitus subsidiary Merko Investments AS has acquired a 56% holding in Norwegian construction company Peritus Entreprenør AS in order to provide construction services on the Norwegian market. On 7 March 2016, Merko Ehitus subsidiary Merko Investments AS entered into agreements with Norway’s SDV Golding AS and Aucon AS to acquire a 56% stake in …