History

1992

  • AS Arco Vara is founded by Arti Arakas. Soon Richard Tomingas and Hillar-Peeter Luitsalu join. All three men today are in the group´s Supervisory Board.

1993

  • Arco Vara’s Saare office is founded, which 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 passenger port, where today a multifuctional business centre project is proceeding.
  • 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 very successful real estate firm in Latvia.
  • Arco Vara Halduse OÜ is established as a provider of real estate management services.
  • Cooperation with the developer and builder AS TTP begins for the sales 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 sanitization of a real estate firm in Arco Vara history. The centre is sold successfully in 2002.

1999

  • Arco Vara Pärnu Office acquires and renovates a historical building in Pärnu on Aia 8. In addition to a number of tenants, Arco Vara Pärnu Office is based here.

2000

  • Arco Maadehalduse OÜ, a forestland and 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 AS is founded with the aim of managing real estate investment programmes to be launched and of offering various investment opportunities.

2002

  • Arco Vara buys 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 OÜ 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 OÜ.
  • 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 10.5% holding.

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 office and other offices.
  • Development of a general  strategy for the years 2007-2009 for all Arco Vara divisions, based on the Balanced Scorecard model.

2007

  • Expansion of development activity to Lithuania and  Bulgaria – first projects for Arco Arendus in Sofia and Vilnius.
  • IPO of Arco Vara in June

2008

  • Arco Arendus begins with the construction of two development projects in Bulgaria.
  • Arco Ehitus in Estonia gets attributed by the ISO certificates.

2009

  • Expansion of the operations of Arco Facility Management in Bulgaria

2010

  • Permission for use for Arco Vara’s first project in Bulgaria – BLVD Residence
  • The company office in Sofia moves to the brand new building on Madrid Blvd

2011

  • Construction of first stage of Manastirski L!VD apartments commences – 74 apartments and 6 store

2012

  • Permission for Use for the first stage of Manastirski L!VD apartments. Over 70% of the units in the building were sold off-plan.

2013

  • 100% of the homes in the first phase of Manastirski L! VD apartments sold
  • Start of construction of the second stage of Manastirski L! VD apartments – 132 apartments and 12 shops

2014

  • Expansion of the activity, opening Department Holiday rentals in Bulgaria
  • opening an office in Sunny Beach
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