Launch of the second stage of Magnolijas residential project (Riga, Latvia)

SIA Merko M?jas, part of AS Merko Ehitus group, has launched the second stage of
Magnolijas residential project in P?rdaugava area in Riga. One three-storey
building with 61 apartments at Skrines st. 10 will be completed in the summer of
2027.

Magnolijas (magnolijas.merkomajas.lv (https://magnolijas.merkomajas.lv/en))
residential building will have energy class A rating. The size of the apartments
ranges between 42 to 104 square metres and the price per square metre ranges
from 2,646 to 3,082 euros.

The residential development is located in the quiet and peaceful Sampeteris,
which now stands out for its low-rise buildings, lovely mansions and well-kept
gardens. The development will have outdoor parking spaces, a children's
playground, outdoor gym, and a bicycle stand. Fenced yard together with security
cameras will provide privacy and additional security for apartment owners. All
apartments will feature spacious balconies and high-rise ceilings in the living
rooms. The building will also include shared storage rooms and a common lounge
for hosting guests and spending leisure time.

SIA Merko M?jas (merkomajas.lv (https://merkomajas.lv/)) 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 R?boks, Board member of SIA Merko M?jas,
phone: +371 2806 1061.

Urmas Somelar
Head of Finance
AS Merko Ehitus
+372 650 1250
[email protected] (mailto:[email protected])

AS Merko Ehitus (group.merko.ee (https://group.merko.ee/en/)) 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.