Construction contract (IKEA concept store)

March 15, 2021 3:00 AM EDT

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Nordecon AS and Viljandi Real Estate OÜ have signed an agreement to construct a building for an IKEA concept store in Kurna village, Rae parish, which is in close proximity to Tallinn. The IKEA store will be a “stand alone” store on 2 floors of approximately 30.000 sqm. It will offer more than 8.000 home furnishing solution and products for immediate take-way.  In addition, it will have a restaurant, food market and bistro facilities.

The cost of the contract is approximately 23 million euros, excluding VAT. The works will last for approximately 16 months.

Nordecon (www.nordecon.com) is a group of construction companies whose core business is construction project management and general contracting in the buildings and infrastructures segment. Geographically the Group operates in Estonia, Sweden, Finland and Ukraine. The parent of the Group is Nordecon AS, a company registered and located in Tallinn, Estonia. The unaudited consolidated revenue of the Group in 2020 was 296 million euros. Currently Nordecon Group employs close to 710 people. Since 18 May 2006 the company's shares have been quoted in the main list of the NASDAQ Tallinn Stock Exchange.

Andri Hõbemägi
Nordecon AS
Head of Investor Relations
Tel: +372 6272 022
E-mail: andri.hobemagi@nordecon.com 
www.nordecon.com




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