Construction contract (Pikksilma Kodu apartment buildings second stage)


Nordecon AS and OÜ Pikksilma Kodu (a member of Metro Capital group) signed an agreement on construction of the second stage of apartment buildings in Tallinn city Kadriorg district. In addition to the 39 apartments built and completed in May 2016 by Nordecon in the first stage, 56 apartments will be added in the second.

The value of the contract of the second stage is approximately 5.0 million euros (excluding VAT). The construction begins in October 2015 and the duration of the works is 13 months.

According to the conditions of the agreement OÜ Pikksilma Kodu has the right to exercise the option for the third construction stage, which will result in construction of 27 additional apartments. Over these three construction stages, total of 122 apartments will be built in this district.


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