Tallinn, Estonia, 2014-12-02 10:45 CET (GLOBE NEWSWIRE) --
On 2 December 2014, AS Merko Ehitus and BLRT Grupp Aktsiaselts have submitted an application to the Business Register for establishing the joint venture Kalaranna Arenduse OÜ. In addition, the parties have signed the protocol of common intentions, according to which the aim of the joint venture is the purchase, development preparation and development of the lands intended for commercial and residential purpose at Staapli Str. 3, Staapli Str. 4, Staapli Str. 8, Staapli Str. 12; and lands intended for transportation purpose at Staapli Str. T1 ja T2 in Tallinn.
The share capital of Kalaranna Arenduse is 10 000 euros, which is divided between the parties into equal parts, 50% and 50%.
The area under development is 1.7 hectares, located at the former industrial area, Noblessner quarter. According to the building rights fixed in the valid detailed plan, there can be planned four residential buildings with business premises, approximately 250 apartments in total and parking spaces on the underground floors of the buildings.
Developing the former Noblessner shipyard into a contemporary environment is part of development perspectives of Tallinn, which opens the sea and shoreline to people. Architectural and site plan solution, suitable for the area, will be chosen at an international architecture competition. The results will be announced no later than the end of 2014.
Additional information: AS Merko Ehitus Eesti, Member of Management Board, Mr. Jaan Mäe, phone: +372 680 5105.
Merit Kullasepp
Communication and Marketing Manager
AS Merko Ehitus
Phone: +372 650 1250
E-mail: merit.kullasepp@merko.ee
Estonian BLRT Grupp is one of the biggest industrial groups in the region of the Baltic Sea countries. The group comprises 57 companies, which employee more than 4000 specialists in ten different industries in seven countries.
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.