Nordecon AS and Pirita tee 20a OÜ, a subsidiary of Metro Holding OÜ signed an agreement for the construction of the apartment buildings complex Meerhof 2.0, located in Tallinn, Pirita Rd 20a. The buildings with the total space of 24,000 m² will be erected in two stages.
The value of the contract is approximately 20.0 million euros (excluding VAT). The construction begins in January 2016. The duration of the first stage is 19 months and the second stage 16 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