<img src="https://ml-eu.globenewswire.com/Resource/Download/a1929177-e3f8-4376-b6f5-a6748eee0ffc?size=2" nborder="0" align="left" hspace="5" vspace="5" title="Merko Ehitus AS" alt="Merko Ehitus AS"/><div style="float:right;padding:0 0 15px 20px;margin:15px 0 20px 20px;width:300px">
 Lucavsala I stage visualisation
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 <img src="https://ml-eu.globenewswire.com/Resource/Download/a920d81c-85b1-40b6-9619-66daf97cd13a" title="Lucavsala I stage visualisation" alt="Lucavsala I stage" />
 <figcaption>Lucavsala I stage</figcaption>
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</div>SIA Merko Mājas, part of AS Merko Ehitus group, has launched the second part of the first stage of the Lucavsala residential project in Riga. The first stage of the project comprises a complex of three buildings with total of 199 apartments and two commercial units. Merko has completed the 54 apartments of the first part of the first stage and will start the construction of the second part of the first stage. A 15-storey building with 64 apartments is expected to be completed in the first quarter of 2028.  The Lucavsala (<a href="https://www.globenewswire.com/Tracker?data=9pyEUl_VCizxozKeDPm9T3NKbnC_jX5CBhpi-RUptjw1Q_7vdXQ883WoxVLjk1XFR1i9B7ukObPP633zTtc2gumUzifb6YLC9nk8NTL0jFMd7vs-bntKPOQ19S9BNU88" rel="nofollow" target="_blank" title="lucavsala.merkomajas.lv">lucavsala.merkomajas.lv</a>) residential project has an exclusive location on Lucavsala island on the Daugava River, which has become a popular destination for recreation, swimming and enjoying nature while remaining close to the city centre. The location offers picturesque views of the Daugava, the charming rooftops of Pārdaugava and lush greenery of Lucavsala. The whole development project comprises in total of five residential buildings with 575 apartments and six commercial units, and a multi-storey parking house. The buildings in this project will be of energy class A. The entire central area of the residential development will be dedicated to its residents, featuring unique landscaping, a variety of children's playgrounds, and community gathering spaces. The area will also include an outdoor gym, multiple recreational areas for different age groups, a shared greenhouse, and sports facilities located on the roof of a multi-storey parking house. The size of the apartments in the 15-storey building ranges from 27 to 80 square metres, and the price per square metre ranges from 2,810 to 3,570 euros. All two- to four-room apartments will have a balcony, loggia or terrace, as well as efficient floor plans prioritising functionality – including a dedicated workspace in the living room and a laundry room in most apartments. SIA Merko Mājas (<a href="https://www.globenewswire.com/Tracker?data=jSYhJNDxGA9u5l6CBJlXmuIGQTAmgjUT9VIsDT9hHTFV0CDodarQ-LoauSS-S0G6Gj7WyOXvbYsmIKDUYEKzbg==" rel="nofollow" target="_blank" title="">merkomajas.lv</a>) is a recognised Latvian residential developer. To ensure the best quality, convenience and assurance for home buyers, Merko manages all phases of development: planning, design, construction, sales, and warranty service. Additional information: Mr. Roberts Rēboks, Board member of SIA Merko Mājas, phone: +371 2806 1061. Urmas Somelar Head of Finance AS Merko Ehitus +372 650 1250 <a href="https://www.globenewswire.com/Tracker?data=PqQ38xh1E36_C6VSprcIXmYiVVTBiLig0uU2ynatJLqVVDq2vvoxZcCAaLwrN-6VsYw2sjmOMfF_3mn1gqVDuqOAcrbq3q4n-nVfPXxN5e8=" rel="nofollow" target="_blank" title="urmas.somelar@merko.ee">urmas.somelar@merko.ee</a> AS Merko Ehitus (<a href="https://www.globenewswire.com/Tracker?data=8Or4OBamtkucOSTHCohk2ecjMH0RTddC28bGHqWvLdjB6IEdURBqK90TykYtAyCMsbr0pTP9d8ThoE6WgOiZbRE9mDE9W-j95pu2BHo16og=" rel="nofollow" target="_blank" title="">group.merko.ee</a>) 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 2025, the group employed 613 people, and the group’s revenue for 2025 was EUR 311 million. 
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 <a target="_blank" href="https://www.globenewswire.com/Tracker?data=PmqAL-qLiihaUqckNP2hTBphQ3l2DSs0kobvmiDHIDtV_ZIJCJ1iBTkh-cNo3_5-JZMLkv2uGtWSdkqhRSdYONni_X05IIV_obsnlYlhKOwvnViSRC2l5glaBzgDoz2L9YW1u_B2fADg2BnF5MZJbp_46pooko1JHC1fqiSA3_DAMOfTw_JB5DfPxaMCqvG4" title="Lucavsala I stage visualisation" rel="nofollow">Lucavsala I stage visualisation</a>
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 <img alt="" src='https://ml-eu.globenewswire.com/media/MWVlNmFlN2EtYTM4MC00OTY0LWJlY2QtOGNjNGMzODA5ZTA5LTExMDc1OTgtMjAyNi0wOC0yNS1lbg==/tiny/Merko-Ehitus-AS.png' referrerpolicy='no-referrer-when-downgrade' />

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Start of construction of the second part of the first stage of the Lucavsala residential project (Riga, Latvia)

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