MANAGEMENT REPORT Real Estate Development Tallinn During the third quarter of 2025, construction works continued at the Uus-Kindrali project, located in Kristiine City, Tallinn. The White Building (91 residential units) at Talli Street 3 / Sammu Street 8 has progressed well. As…
Summus Capital OÜ has released its consolidated financial results for the third quarter of 2025, highlighting stable financial performance, a strong balance sheet and continued portfolio optimization across the Baltic region and Poland. In the third quarter of 2025, the…
AS Nordecon group company Tariston AS and the Estonian Transport Administration have concluded a contract for the construction of the Päädeva–Orgita road section located at kilometres 62.2–64.8 and Haimre traffic junction and road section at kilometres 68.2–70.2 of National Road…
Correction: The consolidated cash flow statement on page 22 has been corrected, as well as the cash flow-related figures in the Key Financial Indicators table on page 11. All other information remains unchanged. GROUP CEO’S REVIEW The Estonian real estate market…
Arco Vara AS will pay its shareholders a dividend of EUR 0.02 net per share for the financial year 2024. The dividends will be paid out to shareholders on 12 November 2025. In accordance with the company’s approved dividend policy,…
Summus Capital, one of the leading real estate investment holding groups in the Baltics, acquires a real estate property in the Polish market. The Libero Katowice shopping centre, which will be added to the company’s portfolio, was acquired at a…
Following the departure of Arco Vara Bulgaria’s former Managing Director, Daniel Yordanov, Arco Vara AS has appointed Christian Petrov as the new head of its Bulgarian subsidiaries. The main responsibility of the new manager is to ensure the smooth continuation…
GROUP CEO’S REVIEW The Estonian real estate market in the third quarter of 2025 was characterized by stable and moderately recovering activity. The number of transactions remained at a comparable level to the previous quarter, indicating that the market is…
Summus Capital, one of the leading real estate investment companies in the Baltics and Poland, has sold two commercial properties in Estonia and Latvia to INDEXO Real Estate Fund AS, a fund managed by Provendi asset management AIFP. The portfolio…
The net asset value (NAV) of EfTEN United Property Fund units was 11,34 euros at the end of September, up 0,33% month-on-month. The somewhat smaller-than-usual increase in NAV was related to the investment into the listed fund EfTEN Real Estate…
Publicly listed real estate developer Hepsor, in cooperation with LHV Pank, is preparing a bond programme and plans to list the bonds on the main list of the Nasdaq Tallinn Stock Exchange in order to diversify the company’s financing structure…
AS Nordecon group company Embach Ehitus OÜ and Kaarsilla Kinnisvara OÜ entered into a contract for the construction of a commercial building in Narva, Kreenholmi 54A. The total cost of the contract is 5.05 million euros excluding VAT, and the…
Scope Ratings GmbH has affirmed its BB/Stable issuer rating for Summus Capital OÜ and maintained the senior unsecured debt rating of BB. The affirmation by Scope reflects Summus’ solid operating performance and successful expansion into Poland. Summus Capital’s balanced, high-quality…
AS Nordecon group company Embach Ehitus OÜ and Riigi Kinnisvara AS (State Real Estate Ltd) entered into a contract for the reconstruction of Võru riigimaja (Võru State Building) in Võru, Jüri 12. The total cost of the contract is 4.7…
Arco Vara AS announces its intention to issue bonds in September 2025. The exact terms and timeline of the offering will be published shortly. The purpose of the public bond offering is primarily to finance a new development project –…
