Tallinn, Estonia, 2014-09-30 10:00 CEST (GLOBE NEWSWIRE) --
AS Merko Ehitus has started the fourth phase of the Paepargi development project at Lasnamäe district in Tallinn. The fourth phase includes three 14-storey apartment buildings. Merko has started the construction of the first building, located at Paepargi 49, which is to be completed in late 2015.
The fourth phase of Paepargi (www.merko.ee/paepargitornid/) includes three 14-storey apartment buildings at Paepargi 49, 51 and 53, each building consisting of 60 apartments. The first six storeys have 1-3-room apartments and the 7th through the 14th storeys have 2-4-room flats. There are two exclusive penthouse apartments on the top storey, featuring high ceilings, spacious terraces, a great view, air conditioning system and a smart home solution. Homebuyers can choose from different interior finishing packages. The price per square metre of the apartments in the new development phase ranges from 1800-2250 euros.
The architect of the apartment buildings is AB Luhse & Tuhal and interior architects are Mr. Eerik Olle and Mr. Ahti Peetersoo. The gross area of the three building is approximately 17 thousand square metres and the total value of the fourth phase of the Paepargi apartment development is ca EUR 14–16 million.
Paepargi area has been transformed into a scenic pond where Merko has developed complete living environment and sold over 150 apartments in the nine buildings completed in the first three stages. Merko has developed and built apartments for thousands of families. To ensure the best quality and convenience for home buyers, we manage all phases of the development: planning, design, construction, sales and service during the warranty period.
Additional information: AS Merko Ehitus Eesti, Director of the Residential Construction Division, Mr. Tiit Kuusik, phone: +372 680 5105.
Merit Kullasepp
Communication and Marketing Manager
AS Merko Ehitus
Phone: +372 650 1250
E-mail: merit.kullasepp@merko.ee
AS Merko Ehitus (group.merko.ee) comprises the leading Estonian construction company AS Merko Ehitus Eesti, the Latvian market based SIA Merks and the Lithuanian market based UAB Merko Statyba as well as the group’s real estate development business unit together with companies holding real estate properties. As at the end of 2013, the group employed 860 people and the 2013 revenue amounted to EUR 262.7 million.
