AV1 Arco Vara A.S.

Arco Vara launches construction of a boutique residential building

Arco Vara launches construction of a boutique residential building

Subsidiary of Arco Vara, Kerberon OÜ that in December 2022 was granted a building permit for the Kuldlehe development has now entered into the building contract with Combicon OÜ.

The sale of the Kuldlehe development includes a special clause that grants the holders of Arco Vara AS shares or bonds a pre-emptive right until 24th of February. The offer is available to all Arco Vara shareholders regardless the amount of their holding. The pre-sale has started, and public sale will commence in March 2023. Expected revenue is 4.3 million euros.

The property at Lehiku tee 11 will have a three-storey residential building with a joint entrance and homes for 5 families. The building will have two floors above ground and one semi-underground floor for the parking lot and storage areas. The net above-ground area of the development will be 853 square metres.

For additional information please send your inquiry to .



Tiina Malm

CFO

Arco Vara AS

Tel:



EN
11/01/2023

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