Housing affordability increased due to lower interest rates, as well as still-solid wage growth. Improving economic conditions should fuel market activity in 2025 and thereafter. The year 2024 ended, and 2025 has started on a positive note for the Baltic…
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…
EfTEN Real Estate Fund AS generated €2,556 thousand in consolidated rental income in January. In comparison, the fund’s rental income in December 2024 was €2,861 thousand, which included €238 thousand in turnover-based rent from shopping centers recognized at the end…
The crowdfunding platform “Profitus” raised €88 million in 2024, strengthening its position as a leader in Lithuania and starting international expansion. This is 49% more than in 2023, when €59 million was raised. According to CEO Lina Maskoliūnė, these results…
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…
Merko Bustas, part of AS Merko Ehitus group, has launched the Šnipiškiu Urban residential development project in Vilnius. The development project comprises a total of 229 apartments in six buildings and an underground parking connecting them. Merko has started the…
BUSINESS CLIMATE Business cycle. In 2024 recession worries came and disappeared in global economy. Towards the end of a year global growth was lower than at the start of a year in almost all major regions, but far away from…
“Although in the EfTEN team we are convinced that the bottom of the Baltic commercial real estate market has passed, we were unable to convey this clearly enough to investors. At the moment, many investors seem to prefer bonds over…
On 3 December 2024 UAB Merko Statyba, part of AS Merko Ehitus group, and UAB PSVL SUN and UAB PSVL WIND entered into the contract to perform the construction of foundations for 3 wind turbines and related infrastructure (electrical cables…
With interest rates falling faster than expected and wage growth remaining strong, housing affordability gradually improves. Both factors will continue boosting affordability and demand in Latvia and Lithuania next year, while Estonia will rely solely on lower rates. Favourable inflation…
EfTEN Real Estate Fund AS (registry code 12864036, address A. Lauteri 5, 10114 Tallinn) announces a public offering of shares based on a decision of the fund’s Supervisory Board dated November 11, 2024, and informs about the planned listing and admission…
Management Board of Northern Horizon Capital AS has approved the unaudited financial results of Baltic Horizon Fund (the Fund) for the nine months of 2024. Our strategic ambitions Over the past year, our focus has been on reshaping our strategy to…
In the third quarter of this year, the downward trend in the construction market did not experience a significant shift. Forward-looking indicators that characterize both the construction market and the broader macroeconomic environment are contradictory, making it difficult to predict…
COMMENTARY FROM MANAGEMENT Merko Ehitus revenue for the 9 months of 2024 was EUR 379 million and net profit was EUR 44.8 million. Third-quarter revenue was EUR 175 million; net profit EUR 27.3 million. Sales of construction services made up…
