Arco Vara launches construction of two new development projects

Companies belonging to the Arco Vara group are launching the construction of two new residential real estate development projects in Tallinn.

Phase VII of the Kodulahe quarter – Merimetsa, Tallinn

Following the issuance of the building permit, Kodulahe Kvartal OÜ is launching the construction of the seventh phase of the Kodulahe quarter at Soodi 6, Tallinn. The project includes the construction of three apartment buildings with a total of 62 apartments (ranging from 1 to 5 rooms) and commercial premises with a total area of 263 m². The net sellable area of the apartments is 4,270 m². The expected total revenue of the development is approximately 16 million euros. The buildings are scheduled for completion in the fourth quarter of 2026. Apartment sales have already started.

Spordi Street development – Kristiine, Tallinn

Arco Vara’s subsidiary Arco Spordi OÜ acquired properties with building permits at Spordi 3a and 3b in Tallinn in the spring of 2025. The project has now entered the construction phase. The development consists of two apartment buildings with an underground parking garage. A total of 56 apartments (ranging from 2 to 5 rooms) will be built, several of which will feature balconies or terraces. The net sellable area of the apartments is 4,300 m². Pre-sales of the apartments began in the second quarter of 2025, and the buildings are scheduled for completion by the end of 2026. The estimated total revenue of the project is 17 million euros.

The general contractor for both developments is Arco Tarc OÜ, a construction company belonging to the Arco Vara group.

Comment from Arco Vara CEO Kristina Mustonen:

"Our 2025 action plan is progressing steadily – the start of construction for both the Kodulahe and Spordi projects clearly confirms this. We are delivering on our promises to investors and executing the planned developments on schedule. For us, it’s a matter of trust. In terms of content, we are focused on homes that resonate with both residents and investors – through well-thought-out layouts, contemporary architecture, and high-quality urban space."

Darja Bolshakova

CFO

Arco Vara AS