Construction, Estonia, EU – Baltic States, Good for Business, Markets and Companies, Real Estate

According to the contract between AS Merko Ehitus Eesti, wholly owned subsidiary of AS Merko Ehitus group, and Rannamoisa tee Kinnisvarahaldus OU, which entered into force on Tuesday, Merko Ehitus will perform the design and construction works of the Bauhaus store to be built on the plots located at Kaeravalja Street 3, Rannamoisa Road 4c and Rannamoisa Road 4d, Tallinn, Merko told the stock exchange.

The construction works will start in March 2016 and are scheduled to be completed in April 2017. The value of the contract is about 7.6 million euros, plus value added tax.

The contract covers the Bauhaus Tallinn Rocca al Mare DIY store, a drive-in arena, a parking lot, utility works and access roads. The store will have a sales area of more than 14,000 square meters and it will employ more than 130 retail staff.

Merko Ehitus group is made up of the Estonian subsidiary AS Merko Ehitus Eesti, the Latvian subsidiary SIA Merks, the Lithuanian subsidiary UAB Merko Statyba, and a real estate development unit including companies that are owners of real estate. The group employed 791 people as at the end of 2015 and it finished the year with a profit of 10 million euros on sales of  251 million euros.