GROUP CEO’S REVIEW The year 2024 brought numerous challenges in the sector of real estate, requiring companies to be flexible, exercise strategic planning, and adapt to the changing market conditions. The real estate developer Arco Vara faced a complicated economic…
On 31.03.2025, EfTEN Hiiu OÜ finalized the transaction by which the subsidiary of the fund acquired the property located at Hiiu 42, Tallinn from the Südamekodu AS. Previously (20.02.2025), the fund has notified the stock exchange of the conclusion of…
Management Board of Northern Horizon Capital AS has approved the unaudited financial results of Baltic Horizon Fund (the Fund) for the twelve months of 2024. The financial results remained unchanged compared to the preliminary disclosure on 17 February 2025. Executing…
On 24.05.2017, a lease agreement was concluded between the fund’s subsidiary EfTEN Seljaku OÜ as the landlord and Hortes AS (bankrupt) as the tenant, under which Hortes AS (bankrupt) used the properties at Seljaku 4b and 2a in Harju County,…
Extraordinary General Meeting (hereinafter the “General Meeting”) of Baltic Horizon Fund unit-holders and Swedish Depositary Receipt (hereinafter the “SDR”) holders (hereinafter together the “Investors”) took place on 27 March 2025 in Tallinn, Estonia. Proposed agenda of the meeting, as proposed…
At the request of a unitholder whose units represent more than 1/10 of all the votes, Northern Horizon Capital AS invites Baltic Horizon Fund unit-holders and Swedish Depositary Receipt (hereinafter the “SDR”) holders (hereinafter together the “Investors”) to attend an…
Kodusadam OÜ, a joint venture of OÜ Merko Kodud and AS BLRT Grupp, has decided to launch a real estate development project at Allveelaeva 2 (merko.ee/allveelaeva) in the Noblessner harbour district. The apartment building with 83 apartments and 6 commercial…
For the Group as a whole, 2024 was a moderately profitable year, despite the ongoing economic downturn and interest rates which remained relatively high during the year. Encouragingly, the bottom of the market in terms of transaction activity remained backward-looking…
Management Board of Northern Horizon Capital AS has approved the unaudited financial results of Baltic Horizon Fund (the Fund) for the twelve months of 2024. Our strategic ambitions In 2024, the Fund’s management team made the strategic decision to implement key…
COMMENTARY FROM MANAGEMENT Merko Ehitus posted revenue of EUR 160.4 million and net profit of EUR 19.9 million in Q4 of 2024. The respective figures for the entire year 2024 were EUR 539 million and EUR 64.7 million. Approximately 90%…
The year 2024 was successful for the Nordecon Group. Profitability improved significantly, and revenue increased. The general contracting market remains highly competitive, and developers’ confidence is low. No change is expected in the volume of public sector orders for the…
Last year, EfTEN Ermi OÜ, a 100% subsidiary of EfTEN Real Estate Fund AS, in cooperation with the operator Tartu Südamekodu OÜ has completed the construction of the 120-bed elderly care home on the land used under building rights at…
In May 2024, the Estonian FSA performed an on-site inspection, assessing the internal control system of Northern Horizon Capital AS and the implementation of measures to prevent and mitigate conflicts of interest. On 19 December 2024, the Estonian FSA issued…
The subsidiary of Aktsiaselts Infortar, INF Mustakivi OÜ, along with OÜ T-Bumani and Depo DIY EE OÜ, signed a construction agreement and a property lease agreement for the development of a Depo (DIY Store) in Lasnamäe. As part of the…
Today, 21.11.2024, EfTEN Paemurru OÜ OÜ finalized the transaction by which the company acquired the property located on Paemurru tee 3, Laabi village, Harju County, Harku Municipality, near Tallinn. Previously (30.09.2024), the fund has notified the stock exchange of…
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