Construction contract (Veerenni str 24 office building)


Nordecon AS and OÜ Kawe Invest, a subsidiary of AS Kawe signed a main contracting agreement for the construction of office building in Baltika Quarter in Tallinn at Veerenni 24. The seven-storeyed building will have 13,000 sqm of space, including parking. The construction will be completed in autumn 2015.

The value of the contract is approximately 9.0 million euros (excluding VAT).


Nordecon is a group of construction companies whose core business is construction project management and general contracting in the buildings and infrastructures segment. Geographically the Group operates in Estonia, Ukraine and Finland. The parent of the Group is Nordecon AS, a company registered and located in Tallinn, Estonia. In addition to the parent company, there are more than 10 subsidiaries in the Group. The consolidated revenue of the Group in 2013 was 174 million euros and net profit 4.6 million euros. Currently Nordecon Group employs more than 700 people. Since 18 May 2006 the company's shares have been quoted in the main list of the NASDAQ OMX Tallinn Stock Exchange.

         Andri Hõbemägi
         Nordecon AS
         Head of Investor Relations
         Tel: +372 6272 022
         Email: andri.hobemagi@nordecon.com
         www.nordecon.com