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…
SIA Merks Mājas, 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 Arēna St. 1 will be completed in the…
Although there were no huge positive development leaps in the operating environment, there were still signs of renewed optimism in the residential property market. During the third quarter, we signed 32 contracts under the law of obligation (sales contract; 2024…
LHV Pank updated the equity research and price target of EfTEN Real Estate Fund AS (EfTEN; EFT1T) shares. According to the analysis, the price target for the share was increased from 19,6 euros to 20 euros and the share has…
GROUP CEO’S REVIEW The third quarter of 2024 marked a turning point for the Estonian real estate market, which showed signs of stabilization and gradual recovery after a prolonged period of decline. Lowered base interest rates and decreased Euribor had…
The decrease in euro interest rates is quietly increasing transaction activity on the Baltic real estate market and has a positive effect on the financial results of EfTEN Real Estate Fund AS. Thus, in the third quarter of 2024, the…
EfTEN Capital AS, as the management company of the EfTEN United Property Fund (stock market ticker EFCUPFFT, ISIN code EE3500001609) decided to make a cash distribution of 5,726 euro cents per unit, totalling 142 226 euros. The distribution constitutes 0,54%…
EfTEN Härgmäe OÜ, a 100% subsidiary of EfTEN Real Estate Fund AS, signed on 19.09.2024 a contract under the law of obligations with Conus Assets OÜ for the acquisition of properties located at Härgmäe st 8 and Piimamehe st 7…
Northern Horizon Capital AS, the management company of Baltic Horizon Fund, raised EUR 6.29 million in private placement. The private placement, mainly targeting institutional investors in select European countries, took place under the resolution taken by the general meeting of…
The management board of EfTEN Real Estate Fund AS presented to the supervisory board a proposal for issuing new shares, the purpose of which is to finance new planned acquisitions. The volume of the issue is initially planned to be…
Enlight Research updated the equity research and price target of EfTEN Real Estate Fund AS (EfTEN; EFT1T) shares. According to the analysis, the fair value of the share is 22.51 euros under the base scenario. This is almost unchanged as…
The net asset value (NAV) of EfTEN United Property Fund unit was 10.65 euros at the end of July, increasing by 0.2% over the month. If the fund’s investment in the EfTEN Real Estate Fund AS shares is reflected on…
Housing affordability improved in Tallinn and Vilnius, while remained nearly unchanged in Riga. The ECB cut its interest rates by 25 basis points in June; further cuts will continue supporting affordability. As expected, the ECB cut its interest rates in…
People’s willingness to work has reached record-highs. Rapidly rising prices motivate people to look for additional income. The participation rate, i.e., the share of people who are either employed or are actively looking for a job, rose to 75.4% of…
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