Nordecon
Company Announcement Construction contract (Kentmanni commercial building) Nordecon AS and Selvaag Sakala OÜ signed a contract for the construction of commercial building in Tallinn city center (Kentmanni St 4 / Sakala St 10)

Tallinn, Estonia, 2012-05-09 10:00 CEST (GLOBE NEWSWIRE) -- Nordecon AS and Selvaag Sakala OÜ (subsidiary of Norwegian real estate group Selvaag Gruppen AS) signed a contract for the construction of commercial building in Tallinn city center (Kentmanni St 4 / Sakala st 10). The building has two separately functioning wings - one facing Sakala St with 6 floors and one facing Kentmanni St has 5 floors. The gross area for the building is approximately 4,680 square meters.

The contract value is approximately 4.3 million euros, excluding VAT. The works begin in spring 2012 and last for 15 months.

Nordecon 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, Ukraine and Finland. The parent of the Group is Nordecon AS, a company registered and located in Tallinn, Estonia. In addition to the parent company, there are more than 10 subsidiaries in the Group. The consolidated revenue of the Group in 2011 was 147.8 million euros. Currently Nordecon Group employs more than 700 people. Since 18 May 2006 the company's shares have been quoted in the main list of the NASDAQ OMX Tallinn Stock Exchange.

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