Merko Ehitus

Legal Proceedings Report • Nov 5, 2024

Start of the construction of the first stage of Arena Garden Towers residential project (Riga, Latvia)

SIA Merks M?jas, part of AS Merko Ehitus group, has launched the first stage of
Arena Garden Towers residential project in Skanste district in Riga. One 13-
storey building with 84 apartments at Ar?na St. 1 will be completed in the
summer of 2026.

Arena Garden Towers (skanste.merksmajas.lv (https://skanste.merksmajas.lv/en/))
residential building will have energy class A rating. The size of the standard
apartments ranges between 53 and 105 square meters and the price per square
meter ranges from 2,659 to 3,250 euros. The development project comprises in
total of four residential buildings with around 400 apartments and two
commercial units.

Arena Garden Towers is located in Skanste district which is known as a modern
center of Riga. This is the first residential project by Merks M?jas featuring
energy pile technology for sustainable heating and cooling. This contemporary
complex will feature variety of apartment types, including unique two-story
penthouse apartments with 6.30-meter ceilings and private rooftop terrace. The
buildings have two elevators per staircase, shared room for events and rooftop
terraces, also a secure private courtyard for recreation and play. Parking
spaces are located on the ground floor of the building and dedicated outdoor
area.

SIA Merks M?jas (https://merksmajas.lv (https://www.merksmajas.lv/en)) is a
recognized Latvian residential developer. To ensure the best quality,
convenience and assurance for home buyers, Merko manages all phases of the
development: planning, design, construction, sales and warranty service.

Additional information: Mr. Roberts R?boks, Board member of SIA Merks M?jas,
phone: +371 6737 3380.

Urmas Somelar
Head of Finance
AS Merko Ehitus
+372 650 1250
[email protected] (mailto:[email protected])

AS Merko Ehitus (group.merko.ee (https://group.merko.ee/en/)) group companies
construct buildings and infrastructure and develop real estate. We create a
better living environment and build the future. We operate in Estonia, Latvia
and Lithuania. As at the end of 2023, the group employed 635 people, and the
group's revenue for 2023 was EUR 466 million.