On 25 May 2023, AS Merko Ehitus Eesti and Estma HPT OU entered into a contract for the construction of the first stage of hotel and office building located at Sadama 4, Tallinn. The contract includes construction of 6-storey building with one underground floor, the building will operate as Hyatt hotel and accommodate offices. The contract value is approximately EUR 11.1 million, plus value added tax.

The first stage of the construction works is scheduled to be completed by the end of 2024.