MERKO Reports Fivefold Increase in Apartment Sales in Lithuania During Q1 2025

In the first quarter of 2025, UAB Merko statyba generated €23 million in revenue from general contracting agreements and sold 74 apartments.

“2024 was a record year for us in terms of work volume — we reached €270 million in revenue and completed several major projects, many of which are now either finalized or nearing completion. Naturally, this year’s revenue is lower as a result,” comments Saulius Putrimas, Head of MERKO in Lithuania, highlighting a record fivefold increase in apartment sales.

Renewable energy projects have been implemented for ten years

For several years now, MERKO’s main construction directions in Lithuania have remained consistent: development of renewable energy, engineering, and defense infrastructure projects, as well as residential construction. According to the company’s representative, as major projects near completion, operations are returning to previously optimal volumes. For example, in the first quarter of 2023, revenue from general contracting agreements amounted to €8.5 million, while in the same period last year, it reached €49 million.

“This year we are celebrating an important milestone — back in 2015, we installed our first wind turbine foundations, and over the past decade, we’ve become the leading builder of wind farms in Lithuania. UAB Merko statyba has been recognized as the company that has installed the most wind turbine foundations. We’ve built a team of professionals for this area and have already poured more than 200 foundations. We’re capable of successfully implementing wind farm projects not only in Lithuania but also across the Baltic states — and we’re currently exploring new development opportunities,” says the head of MERKO in Lithuania.

According to Saulius Putrimas, the scale of work on renewable energy projects can vary greatly. In some cases, new-generation power plants are built with all necessary infrastructure (full BOP scope), while in others, MERKO has constructed transformer substations and other infrastructure for wind farms.

This quarter also saw continued construction on MERKO’s own real estate development project “Vilnelės skverai,” as well as the launch of a new residential complex, “Šnipiškių Urban.”