New Student Hotel Construction Project in Riga
Construction Contract for Student Hotel in Riga
Recently, SIA Merko B?ve, part of the AS Merko Ehitus group, announced a significant design-and-build construction contract for a new student hotel, "Duck Republik," located in R?ga, Slokas iela 51. This ambitious project aims to address the increasing demand for student accommodations within the city.
Details of the Construction Contract
The contract encompasses the design and construction of a modern 3-storey building, supplemented by an underground floor. The hotel will boast a generous gross area of 7,680 m², featuring 210 fully furnished rooms capable of accommodating up to 249 students. Alongside the comfortable living spaces, the facility will include common recreational areas and a gym to foster a community atmosphere among residents.
Financial Aspects of the Project
The total value of the construction contract is estimated at approximately EUR 12.3 million, exclusive of value-added tax. This investment demonstrates the commitment of both SIA Merko B?ve and SIA Duck Slokas to enhancing the student experience. Anticipated completion of construction works is slated for May 2026, ensuring that the project will contribute to student housing needs in the near future.
Company Overview: SIA Merko B?ve
SIA Merko B?ve is a leading construction company in Latvia known for its diverse construction services that span general construction, civil engineering, and residential building projects. Their expertise enables them to take on large-scale projects such as the Duck Republik hotel, contributing to the development of essential infrastructure in Latvia.
Current Projects and Workforce
As part of the AS Merko Ehitus group, SIA Merko B?ve operates in multiple countries, including Estonia, Latvia, and Lithuania. As of late 2023, the group employed about 635 individuals and reported impressive revenues of EUR 466 million for the year. This strong workforce and financial backing provide a solid foundation for successfully executing large contracts such as the construction of the new student hotel.
Contact Information for Additional Inquiries
For more information about this exciting project or inquiries regarding other projects, interested parties can contact:
Mr. J?nis Zilgme
Board Member
SIA Merko B?ve
Email: Janis.Zilgme@merkobuve.lv
Mr. Urmas Somelar
Head of Finance
AS Merko Ehitus
Phone: +372 650 1250
Email: urmas.somelar@merko.ee
Frequently Asked Questions
What is the purpose of the Duck Republik project?
The Duck Republik will serve as a student hotel, providing accommodation for students in Riga.
When is the expected completion date for the construction?
The construction is expected to be completed by May 2026.
Who is involved in the construction of the student hotel?
The project is a collaboration between SIA Merko B?ve and SIA Duck Slokas.
What is the estimated value of the construction contract?
The contract is valued at approximately EUR 12.3 million, plus VAT.
How many students can the hotel accommodate?
The hotel will have the capacity to accommodate 249 students across 210 rooms.
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