10:13

Sunday, 5. February 2012

History

1992

  • AS Arco Vara is founded by Arti Arakas. Soon Richard Tomingas and Hillar-Peeter Luitsalu join. Today there are five members in the group´s Supervisory Board, among them Richard Tomingas and Hillar-Peeter Luitsalu.

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, where a multifuctional business centre project is in development today.
  • 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 very successful real estate company in Latvia.
  • Arco Vara Halduse OÜ is established as a provider of real estate management services.
  • Cooperation with the developer and constructor Ltd. TTP begins for the brokerage of a large real estate development project in Pirita.

1998

  • Establishment of a second large-scale residential development project (40 hectares), Merivälja2, is launched.

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. In addition to several tenants, the office itself is situated in that building today.

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, http://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

2009

  • Facility Management of Arco Vara expand in 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. More information: www.kodukolde.ee

2010

  • Arco Vara started with 2 new apartment houses in Kodukolde. New houses will have some new and innovative arhitectural details. More information: www.kodukolde.ee
  • The biggest development project in Arco Vara history "Boulevard Residence Madrid" will grant an authorisation for use. More information: Boulevard Residence Madrid

2011

  • Alasniidu kindergarten will be completed
  • Estonian Aviation Academy in Tartu will be completed
  • Last residential land plots are sold in Merivälja-2
  • The construction of a kindergarten in Lilletee has begun
  • The construction of 74 apartments started in Sofia
  • A large amount of land are privatized in Latvia “Mazais Baltezersi” district
  • A partner was found for the Tivoli development project in Kadriorg