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ARC1T - Arco Vara AS News Story

€1.62 0.0  2.5%

Last Trade - 09/04/21

Sector
Financials
Size
Micro Cap
Market Cap £12.7m
Enterprise Value £20.0m
Revenue £12.2m
Position in Universe 508th / 793

Arco Vara begins with the construction of the next Kodulahe stages

Fri 4th December, 2020 12:28pm
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Kodulahe OÜ, a subsidiary of Arco Vara AS, has entered into construction and
financing contracts for conducting the next residential development project of
Kodulahe Kvartal.
 
 In Merimetsa, Tallinn, the joint development of the 4(th) and 5(th) apartment
building of Kodulahe Kvartal will be started at addresses Pagi 3 and Pagi 5
where 72 apartments will be constructed. On offer will be apartments with 2 to
5 rooms and with a total GSA of 4,777 m(2). The buildings were designed by
KAMP Arhitektid OÜ, the main contractor of construction is RAMM Ehituse OÜ
and the construction is financed by AS LHV Pank. The buildings will be
completed in the summer of 2022 and the expected income of the project is
approximately 11.7 million euros.
 
 Miko Niinemäe, the Executive Manager of Arco Vara AS, “The interest of the
clients in living in Kodulahe and the Merimetsa region is stably high and we
think that the continuing the qualitative development of the region is
important for the development of the entire city of Tallinn. It is worth to
mention that it is the last stage of the planning area of Paldiski mnt 70c
which Arco Vara has developed already as of 2014.”



Tiina Malm
 CFO
 Arco Vara AS
 Tel: +372 614 4630
tiina.malm@arcovara.com
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