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Arco Vara AS extended the licence agreement in Bulgaria

Arco Vara AS extended the licence agreement in Bulgaria

Arco Vara AS sells brand licenses to real estate agencies in Estonia, Latvia and Bulgaria. At the bilateral initiative of the parties, the agreement was tentatively extended until December 31, 2028.

CEO of Arco Vara Miko Niinemäe's comment: „Bulgarian real estate brokerage bureau has shown desire to grow and has proved it with increasing revenue numbers. Due to Arco Imoti’s plan to expand on the Bulgarian market, we have already signed a contract extension to encourage the work of the local team and ensure Arco Vara’s support.“

The Estonian and Latvian agreements last until December 31, 2023 and are subject to review next year.



Tiina Malm

CFO

Arco Vara AS

Tel: +372 614 4630



EN
07/10/2022

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