News

A symbolic time capsule has been embedded at GUSTAVS Business Center

Today, on December 16, real estate developer GALIO Group together with construction company MERKS, SEB Global Services centre in Riga and architect company SIA Vilnis Miculis gathered to place a symbolic time capsule at the construction site of the brand new and sustainable GUSTAVS Business Center. It is planned that 1100 employees of SEB Global ...


Capsule embedding in “Merks” latest project “Merks Mežpilsēta”

On Tuesday, October 5, a capsule was laid in the latest project of the construction company “Merks” “Merks Mežpilsēta”, Hipokrāta Street 24, Riga with a message for future generations. Within the first stage of the project, 3 five-storey buildings with a total of 117 apartments will be built. The project is planned to be finished ...


Net profit for Merko Ehitus at nine-month mark exceeds EUR 15 million

Third-quarter revenue for Merko Ehitus was EUR 81 million and net profit for the same period was EUR 5.5 million. The revenue for the first nine months of 2021 grew by 8% to EUR 227 million and net profit by 17% to over EUR 15 million. This year in the three Baltics, Merko has launched ...


Appealing the decision of the Latvian Competition Council

With the 09.08.2021 stock exchange announcement, AS Merko Ehitus released information concerning the decision of the Latvian Competition Council regarding group’s subsidiary SIA Merks. SIA Merks considers the conclusions of the Latvian Competition Council concerning SIA Merks’ business practices to be unfounded and unsubstantiated, both factually and legally. Today, on 13.09.2021 SIA Merks and AS ...


The decision of the Latvian Competition Council regarding SIA Merks

On 9th of August 2021, SIA Merks, a subsidiary company of AS Merko Ehitus, received the decision of the Latvian Competition Council regarding the company in the administrative proceeding, started in 2019. Group has disclosed the information about the proceedings with 04.09.2019 Stock Exchange announcement, in the annual and interim reports. According to the 30 ...


Construction company Merks selected to build first building of GUSTAVS Business Center

Real estate developer GALIO Group has signed a contract with construction company Merks to construct a brand new GUSTAVS Business Center building with a total area of 23’500 square meters including underground parking. It will be the first of three GUSTAVS Business Center buildings located at Gustava Zemgala gatve 73 and is the first project ...


Merko Ehitus experiences increase in sales revenue and profit for Q1 2021

In Q1 2021, Merko Ehitus posted sales revenue of 60 million euros and net profit of 3.4 million euros, increasing by 7% and 67%, respectively, compared to the previous year. In three months, Merko sold 90 apartments and started construction of more than 560 apartments. The volume of the secured order book and new contracts ...


Merks starts construction of “Merks Duntes Zīles” and apartment reservation

The construction company Merks has started work on the new residential project Merks Duntes Zīles in Riga, Pededzes iela 3, along with apartment reservation. Two buildings are envisaged within the framework of the project, a four-storey and a five-storey, with a total of 84 apartments. The buildings are expected to be completed by May 2022. ...


2020 net profit for Merko Ehitus grows to EUR 23 million

Merko Ehitus posted revenue of approximately EUR 106 million for Q4 2020, while total revenue for the whole year was EUR 316 million. The group’s Q4 2020 net profit was EUR 10 million and its annual net profit grew over 40%, amounting to EUR 23 million. In coordination with the supervisory board, the group’s management ...