Construction Contract for Student Hotel in Riga
SIA Merko B?ve, a part of the AS Merko Ehitus group, has recently announced an important design-and-build construction contract for a new student hotel named "Duck Republik." This hotel will be situated at Slokas iela 51 in R?ga and aims to meet the growing need for student housing in the city.
Details of the Construction Contract
The contract involves the design and construction of a contemporary three-story building, which will also include an underground level. The hotel will cover a substantial gross area of 7,680 m² and will feature 210 fully furnished rooms, accommodating up to 249 students. In addition to comfortable living spaces, the facility will offer common recreational areas and a gym to promote a sense of community among residents.
Financial Aspects of the Project
The estimated total value of the construction contract is around EUR 12.3 million, excluding value-added tax. This investment reflects the dedication of both SIA Merko B?ve and SIA Duck Slokas to improving the student experience. The construction is expected to be completed by May 2026, ensuring that the project will effectively address student housing needs in the near future.
Company Overview: SIA Merko B?ve
SIA Merko B?ve is a prominent construction company in Latvia, recognized for its wide range of construction services that include general construction, civil engineering, and residential building projects. Their expertise enables them to undertake large-scale projects like the Duck Republik hotel, playing a crucial role in the development of vital infrastructure in Latvia.
Current Projects and Workforce
As part of the AS Merko Ehitus group, SIA Merko B?ve operates across several countries, including Estonia, Latvia, and Lithuania. By late 2023, the group employed approximately 635 individuals and reported impressive revenues of EUR 466 million for the year. This strong workforce and financial stability provide a solid foundation for successfully managing significant contracts such as the construction of the new student hotel.
Contact Information for Additional Inquiries
For more details about this exciting project or for inquiries regarding other projects, interested parties can reach out to:
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 function as a student hotel, offering accommodation for students in Riga.
When is the expected completion date for the construction?
The construction is anticipated to be finished by May 2026.
Who is involved in the construction of the student hotel?
The project is a partnership 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, excluding VAT.
How many students can the hotel accommodate?
The hotel will have the capacity to house 249 students across its 210 rooms.
