Tallinn, Estonia, 2015-04-21 08:07 CEST (GLOBE NEWSWIRE) --
AS Merko Ehitus has started the fifth phase of the Paepargi development project at Lasnamäe district in Tallinn. The new phase includes three 4-storey apartment buildings. In April 2015, Merko will start the construction of the first two buildings, located at Paepargi 31 and 33, which are to be completed in spring 2016.
The fifth phase of Paepargi (www.merko.ee/perepargi) includes three 4-storey apartment buildings at Paepargi 29, 31 and 33, each building consisting of 19 apartments. The architect of the buildings, rated energy class B, is Erkki Ristoja. The apartments are characterized by functional floor plans and most of the apartments have a glass-enclosed balcony. Interior architect Eerik Olle has prepared five different interior finishing packages for bathrooms and three packages for living rooms. The price per square metre of the apartments in the new development phase ranges from 1600–1900 euros. Easy access to the new buildings is guaranteed from Paepargi street, which will be completed by the end of 2015.
The gross area of the three buildings of the fifth phase of Paepargi is approximately 4,500 square metres and the total value of the development project is ca EUR 4 million.
New apartment buildings are located at Paepargi, in the side of Pae Street, which is also known as Perepargi. The area is connected with the completed apartment buildings, located at Mäepargi area, by the illuminated pedestrian bridge over the lake, offering nice views to the fountain.
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. The fourth phase of Paepargi development project includes the development of three 14-storey buildings, the first one is to be completed by the end of 2015.
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) consists of Estonia’s leading construction company AS Merko Ehitus Eesti, the Latvian-market-oriented SIA Merks, UAB Merko Statyba that is operating on the Lithuanian market and the real estate development business unit along with real estate holding companies. As at the end of the year 2014, the group employed 765 people and the company’s revenue for 2014 was EUR 252.3 million.
