A subsidiary of Arco Vara, Aktsiaselts Kolde, signed an agreement for land acquisition beside Lake Harku, address Paldiski road 124b, Tallinn. More than 30,000 m2 of residential and commercial real estate (GBA) is planned for development. The expected development period is 6 years with the start of construction planned for 2023.
Miko Niinemäe, CEO of Arco Vara AS, “We wish to create unique environments and real estate, which this region and Arco Vara can provide for our clients. The coastline of Lake Harku has significant potential that is mostly unused at the moment. Our objective is to develop cost effective real estate at a precious location. I believe we are able to achieve it at that location.”