Nordecon AS and Arsenal Centre OÜ signed a main contracting agreement for the construction of Arsenal Shopping and Office Centre building in Tallinn, at the intersection of Erika and Tööstuse Rd. At the Erika Rd, the three-storeyed building will accommodate shopping and office spaces. At the Tööstuse Rd, one-storeyed shopping space will be built. Total space of the building is 15,000 sqm.
The value of the contract is approximately 7.0 million euros (excluding VAT). The construction will last for 12 months.
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 2014 was 161 million euros and net profit 2.3 million euros. Currently Nordecon Group employs close to 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