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ARC1T - Arco Vara AS News Story

€1.6 -0.0  -0.6%

Last Trade - 16/04/21

Sector
Financials
Size
Micro Cap
Market Cap £12.5m
Enterprise Value £19.8m
Revenue £12.2m
Position in Universe 504th / 795

Arco Vara is expanding its development activities

Mon 8th February, 2021 2:44pm
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A subsidiary of Arco Vara, Aktsiaselts Kolde, signed an agreement for land
acquisition beside Lake Harku, address Paldiski road 124b, Tallinn. More than
30,000 m(2) of residential and commercial real estate (GBA) is planned for
development. The expected development period is 6 years with the start of
construction planned for 2023.

Miko Niinemäe, CEO of Arco Vara AS, “We wish to create unique environments
and real estate, which this region and Arco Vara can provide for our clients.
The coastline of Lake Harku has significant potential that is mostly unused at
the moment. Our objective is to develop cost effective real estate at a
precious location. I believe we are able to achieve it at that location.”



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