Arco Vara begins with the construction of the next Kodulahe stages – GlobeNewswire

Kodulahe O, a subsidiary of Arco Vara AS, has entered into construction and financing contracts for conducting the next residential development project of Kodulahe Kvartal.

In Merimetsa, Tallinn, the joint development of the 4th and 5th apartment building of Kodulahe Kvartal will be started at addresses Pagi 3 and Pagi 5 where 72 apartments will be constructed. On offer will be apartments with 2 to 5 rooms and with a total GSA of 4,777 m2. The buildings were designed by KAMP Arhitektid O, the main contractor of construction is RAMM Ehituse O and the construction is financed by AS LHV Pank. The buildings will be completed in the summer of 2022 and the expected income of the project is approximately 11.7 million euros.

Miko Niineme, the Executive Manager of Arco Vara AS, The interest of the clients in living in Kodulahe and the Merimetsa region is stably high and we think that the continuing the qualitative development of the region is important for the development of the entire city of Tallinn. It is worth to mention that it is the last stage of the planning area of Paldiski mnt 70c which Arco Vara has developed already as of 2014.

Tiina MalmCFOArco Vara ASTel: +372 614 4630tiina.malm@arcovara.com

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Arco Vara begins with the construction of the next Kodulahe stages - GlobeNewswire