Merko Ehitus Secures €41M Contract for Tallinn's Krulli Quarter Revamp

Event summary

  • Merko Ehitus Eesti signed a €41M contract with AS Krulli Kvartal to restore and convert a historic industrial building in Tallinn into a 17,000 sqm business and innovation center.
  • The project, named Kasvuhoone, includes a five-storey wooden tower and integrates heritage protection, low-carbon solutions, and flexible workspaces.
  • Construction is scheduled for completion in Q2 2028.

The big picture

This contract underscores the growing trend of repurposing historic buildings into modern commercial spaces, aligning with sustainability goals and urban revitalization efforts. Merko Ehitus's €41M deal reflects its strong position in the Baltic construction market, where demand for innovative real estate solutions is rising. The project's completion will be a key indicator of the company's ability to balance architectural heritage with contemporary functionality.

What we're watching

Execution Risk
Whether Merko Ehitus can deliver the project on time while meeting heritage protection and sustainability standards.
Market Demand
How the demand for flexible workspaces and innovation hubs in Tallinn will evolve by 2028.
Strategic Expansion
The pace at which Merko Ehitus can secure similar high-value contracts in the Baltic region.

Related topics

Construction