The construction contract for building a hotel at Tartu mnt 49, entered into on February 12, 2020, between AS Merko Ehitus Eesti, part of AS Merko Ehitus group, and GVP Invest Estonia OÜ was terminated by agreement of the parties.
After the pandemic started, the rapidly changing situation on the construction and accommodation markets did not favor starting the construction works under the terms of pending contract, therefore the parties decided to terminate the contract.
AS Merko Ehitus Eesti (merko.ee) is Estonian leading construction company, which offers construction services in general construction, civil engineering, road, electrical and residential construction.
