Development area acquisition in Lithuania (Vilnius)
On 10 June 2019 UAB “Merko būstas”, part of AS Merko Ehitus group, signed an agreement with UAB “Vilniaus aidai“ to acquire a real estate development area in Vilnius. The development area is located near the city centre of Vilnius, at Manufacturu st. 7, on a land plot spanning 13 registered immovables. The value of the transaction is EUR 13 million plus value added tax.
The 4.7-hectare development area has a valid detailed plan, which allows the construction of approximately 1,000 apartments. The construction will be carried out in several stages. The acquisition of the development area, located near downtown Vilnius, is essential for Merko Ehitus group to support the long-term residential development strategy in Lithuania.
UAB “Merko būstas” (www.merko.lt) is Lithuanian residential real estate development company.
Additional information: UAB “Merko būstas”, Director Mr. Saulius Putrimas, phone: +370 682 34742.
Head of Group Finance Unit
AS Merko Ehitus
+372 650 1250
AS Merko Ehitus (group.merko.ee) group consists of Estonia’s leading construction company AS Merko Ehitus Eesti, the Latvian-market-oriented SIA Merks, UAB Merko Statyba operating on the Lithuanian market, and the Norwegian construction company Peritus Entreprenør AS. Besides provision of construction service as a main contractor, the group’s other major area of activity is apartment development. As at the end of 2018, the group employed 764 people, and the group’s revenue for 2018 was EUR 418 million.