Creating homes in a
smart way

...directly tapping the market’s pulse

1992

  • AS Arco Vara is founded by Arti Arakas. Soon Richard Tomingas and Hillar-Peeter Luitsalu join. Today there are seven members in the group´s Supervisory Board. Hillar-Peeter Luitsalu is the Chairman of Supervisory board.

1993

  • Arco Vara’s Saare office is founded. This represents an expansion of activity beyond Tallinn.
  • Arco Vara is responsible for conducting what to its knowledge was the first real estate transaction in independent Estonia.

1994

  • The Estonian Association of Real Estate Companies is founded, with Arco Vara as a founding member.
  • The Arco Vara Pärnu Office is founded.
  • The first contract for the right of superficies in Tallinn is concluded involving a piece of real estate owned by the Republic of Estonia.

1995

  • The real estate development subsidiary, Arco Investeeringute AS, was founded.
  • In cooperation with partners, 2.1 hectares of commercial land is purchased in Tallinn's passenger port.
  • Activity is expanded to southern Estonia.

1996

  • One of the largest real estate development projects in the Baltics – Veskimöldre – is launched.
  • Arco Vara begins offering land surveying services.

1997

  • Arco Vara begins expansion to other Baltic States. The first step is the establishment of Arco Real Estate in Riga. Today, Arco Real Estate is a successful real estate company in Latvia.
  • Arco Vara established a company to provide real estate management services.
  • Cooperation with the developer and constructor TTP Ltd. begins for the brokerage of a large real estate development project in Pirita.

1998

  • Commencement of a second large-scale residential development project (40 hectares), Merivälja 2.

1999

  • Arco Vara Tartu Office acquires the Ristiku shopping centre in Tartu, then in poor financial state. It is the first sanitation of a real estate firm in Arco Vara history. The centre is sold successfully in 2002.
  • A historical building in Pärnu (address Aia 8) is acquired and renovated on the initiative of Arco Vara Pärnu Office. 

2000

  • Arco Maadehalduse Llc, a forestland, land management and brokerage company, is founded. 
  • An Arco Vara office is founded in Vilnius, Lithuania.

2001

  • One of Estonia’s largest construction supervision companies, Tallinna Linnaehituse AS, is acquired in a public tender.
  • Arco Kapitalijuhtimise Ltd. is founded with the aim of managing real estate investment programmes to be launched and offering various investment opportunities.

2002

  • Arco Vara purchases the Tallinn Olympic Yahting Centre from the Ministry of Culture.
  • Arco Real Estate Latvia launches the first large-scale residential development in Baltezers near Riga – the Marsili residential area.

2003

  • A forest auction system, www.metsaoksjon.ee, is created and Arco Vara Puukooli Llc. is founded as a nursery, seedling sale centre and forestry renewal company.
  • Cooperation begins with a leading German real estate group DEC.
  • A majority stake is acquired in the construction firm Deena Ehituse Llc.
  • Arco Vara becomes the personal main sponsor of a top Estonian skier, Jaak Mae.

2004

  • The final implementation of the Arco Vara Group managerial unit is completed and a transition is made to a three pillar structure.
  • Successful development activity is launched in Latvia through Arco Development SIA.
  • The first Arco Vara managed real estate portfolios have their successful market launch.
  • Active development in the construction activity of the group.

2005

  • Development activity is expanded throughout the Baltics.
  • The Ukrainian office is opened in Kiev.
  • Successful merger of Estonian regional real estate offices takes place.
  • Arco Vara increases its share capital, involving Hansabank with a holding of 10.5%.

2006

  • Expansion and opening of offices in Bulgaria and Romania.
  • An international service organization based on a single set of standards takes shape.
  • Rapid development and increase in the number of employees at the Latvian and other offices.

2007

  • Expansion of Arco Development in Lithuania and Bulgaria - first development projects launched in these countries.
  • IPO of Arco Vara.

2008

  • In Bulgaria, construction work on two projects commences: Boulevard Residence Madrid and Manastirski.
  • Arco Construction in Estonia is awarded with ISO certificates.

2009

  • Facility Management of Arco Vara expand to Bulgaria.
  • Communications and streets of land plots development at the seaside in Tallinn, Estonia, in area Merivälja-2 will be built.
  • Stage IV of residential development Kodukolde will be ready. New apartments near to the seaside of Tallinn, Estonia. Today Kodukolde development project is completed and all over 300 apartments are sold.

2010

  • The single biggest development project in Arco Vara history yet – Boulevard Residence on “Madrid” blvd in Sofia, is granted an occupancy permit. 

 2011

  • Alasniidu kindergarten is completed
  • Estonian Aviation Academy in Tartu is completed
  • Last residential land plots sold in Merivälja-2
  • Construction commencement of a kindergarten in Lilletee
  • Construction commencement of Manastirski Stage I – Block C residential development project in Sofia (74 apartments)
  • Land plots privatized in Latvia, “Mazais Baltezersi” district
  • Partnership contract for development of Tivoli project (Estonia) with external investors signed

2012

  • Manastirski Stage I – Block C development project in Sofia, Bulgaria awarded an occupancy permit. Project 90% sold out upon completion. Remaining stages (II and III) of Manastirski project comprise building rights for approximately 200 new apartments
  • Construction commencement of last 2 apartment houses in Kodukolde development project
  • Tarmo Sild becomes CEO of Arco Vara AS

2013

  • Construction commencement of Tehnika 53 residential development project in Tallinn, Estonia 
  • Sale of last apartment in Kodukolde residential development project in Estonia.
  • Construction commencement of Manastirski Stage II – Blocks A and B development project in Sofia, Bulgaria (122 apartments). Stage completion scheduled for Q4 2014.
  • Sale of Tivoli and Ahtri 3 plots
  • Acquisition of a new residential development land plot on 70C Paldiski road, close to Stroomi beach in Tallinn, Estonia

2014

  • The 2nd stage of Arco Vara’s Sofia developmental project Manastirski Livadi was finalised with 135 apartments and a commercial surface; a usage permit was given to the project
  • Usage permit was also given to the Riga Bišumuiža-1 final stage apartment building, with the total of 14 apartments
  • Within the framework of Tallinn Kodulahe developmental project, a detailed plan was confirmed for constructing 330 apartments and commercial surfaces

2015

  • Usage permit was given to Arco Vara’s Sofia developmental project Manastirski Livadi D-block, where 95% of apartments have been pre-sold
  • The financer and constructor of the Kodulahe I stage of Tallinn Kodulahe developmental project were established; in the I stage, 125 apartments and 5 commercial surfaces are built
  • Launch of Arco REIT project, Arco REIT becomes a publicly traded Sofia company
  • Successful sale of two developmental projects in Estonia: Instituudi Road registered immovables in Harku municipality close to Tallinn and Suur-Sepa registered immovable in Pärnu