“Merks” ranks 3rd among the largest developers and introduces its new brand, “Merks mājas”

12.02.2021

In 2020, “Merks” construction company rose to the 3rd position on the list of real estate developers, having sold 24.7 million euros worth of apartments in new projects, as evidenced by the “Market review of new and renovated apartments in Riga and Pieriga 2020” by “Colliers” real estate consulting company. In order to enhance awareness of the construction company’s real estate business branch and establish direct communication with apartment buyers, “Merks” has also introduced a new brand, “Merks mājas” (Merks Houses), to combine all real estate projects developed by the company in one place.

Throughout the last year, “Merks” was consolidating its positions in real estate industry and increasing its sales volume. In 2020, the company has become the 3rd largest developer in terms of sales, which is a considerable increase compared to 7th position back in 2019. “Merks” has sold 24.7 million euros worth of apartments in 2020, mostly in its new projects “Merks Viesturdārzs” and “Merks Gaiļezera nami”. This data is derived from the “Market review of new and renovated apartments in Riga and Pieriga 2020” by “Colliers” real estate consulting company, which considers the transactions registered by the Land Register.

‘Being one of the leading residential property developers in Latvia, we rejoice at the good results of 2020, even despite the impact of external circumstances. In the upcoming years, we intend to increase our sales of new projects, as well as to expand our range of available apartments, in order to assume leadership in the industry. As to the development of a separate brand for our real estate development business segment, it is a logical step, which is meant to maintain communication with apartment buyers separately from the rest of our projects, where we act as the general contractor,’ says Andris Bišmeistars, the member of the board of SIA “Merks”.

The new “Merks mājas” comes complete with a dedicated website www.merksmajas.lv, which is going to be a one-stop source of information about all projects developed by SIA “Merks”.

‘Though 2020 was a challenging year indeed, we have been able to adapt to the external environment and increase our apartment sales. As a result, we are satisfied with our sales performance in 2020 and we have achieved the set goals. Introduction of the new brand is a viable adjustment of the business strategy – we wish to become more available for the real property buyer audience through more personal, friendly and open communication. In the course of development of this brand, we have also defined our real estate business segment values, so that we could keep on developing better and better residential projects for the people of Latvia. The projects we have already completed are a guarantee of quality in word and deed, which is further proven by our industry awards,’ states Mikus Freimanis, Head of Real Estate Development of “Merks”. ‘In residential house projects, we are the developer, the builder, the seller and the guarantor, all at once. This means that customers have the convenience of relying on a single trustworthy partner.’

More information about “Colliers” market review: https://www2.colliers.com/en-lv/research/residential-market-review