Construction contract (Saaremaa Gymnasium study building)

Nordecon AS and Riigi Kinnisvara AS signed a contract for the construction of the future Saaremaa Gymnasium study building in Kuressaare at Väljaku Street 8 and Garnisoni Street 18 registered immovables. The school building has a compact form, it is partly two-storey, partly three-storey building with a net area of approximately 4,300 m². The new state gymnasium has study room for 540 students.

The cost of the construction is 6.168 million euros, plus VAT. Construction works will begin in July 2020, with the aim of handing over the building to the school family by the beginning of the 2021 school year.

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 consolidated revenue of the Group in 2019 was 234 million euros. Currently Nordecon Group employs close to 700 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: [phone]
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www.nordecon.com