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MERKO signed 160 million euro worth of contracts in the first quarter of the year

In the first quarter of 2023, UAB Merko statyba signed three new construction contracts with a total value of over EUR 160 million.

“We have been working on most of the contracts since the beginning of 2022, and it was only in the first quarter of this year that the work reached its final stage, with the contracts finally signed.  I am pleased that the clients trust the professionalism and experience of MERKO’s team, which allows us to win important contracts for our country,” commented Saulius Putrimas, Head of MERKO Lithuania.

Contract work – NATO projects and wind farms

The largest contract signed this quarter was with the NATO Support and Procurement Agency (NSPA) to design and build the infrastructure for a training complex in Pabradė. As per the speaker, a team of skilled professionals has been assembled and is diligently working to ensure the timely and high-quality completion of all planned tasks. This is not the only NATO project currently being implemented by MERKO.

The company has also secured two other contracts this year, one for constructing transformer substations and the other for building wind farms. Both of these projects are being implemented in the Kelme district to different customers. MERKO has recently emerged as a leading wind farm constructor in Lithuania. They are currently working on their twelfth wind farm project, with over 100 wind farm foundations already completed.

In the first quarter of 2023, UAB Merko statyba’s revenue from general contracting reached EUR 8.5 million, reflecting a 35% decrease compared to the same period last year (EUR 13 million).

“The decrease in revenue can be attributed to the year 2022, during which a limited number of contracts was signed due to the Russian-Ukrainian war, inflation, and the energy crisis. Investment decisions have been temporarily halted and delayed. Thus, we finished the previous projects last year, and the new ones have just commenced this quarter. The CEO of MERKO Lithuania anticipates a higher turnover for this year based on the signed contracts and the volume of upcoming work.

 The number of apartments sold in this quarter exceeded the sales in any other quarter of the previous year

MERKO is also actively working on its Vilnelės skverai project. This residential complex is being developed in Markučiai, located near the Old Town, between Užupis and Belmontas.

During the first quarter of 2023, 43 preliminary contracts were signed for apartment sales, surpassing the number from any quarter in 2022. In comparison, 33 preliminary contracts for apartment sales were signed during the same period last year.

All the apartments sold this year are part of the Vilnelės Skverai buildings. These figures indicate that the project was one of the most sought-after residential developments in Vilnius during the first quarter of 2023. 

According to S. Putrimas, one of the main advantages of this project is its prime location, being in close proximity to both the Old Town and the city’s green parks.

“Vilnelės Skverai is being constructed within the conversion project Architecture Park, initiated by Vilnius City Municipality. The area is undergoing significant transformation, including the construction of pedestrian promenades, cycling paths, and landscaping enhancements. To enhance residents’ convenience, spacious enclosed courtyards are being built, along with beautifully landscaped common areas,” explains S. Putrimas, highlighting the reasons behind the project’s popularity. 

Currently, the construction of the third phase of Vilnelės Skverai is nearing completion.