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Arco Vara AS has established a wholly owned subsidiary Arco Tarc OÜ, which will be engaged in the general contracting of the construction of Arco Vara Group developments.
The need for its own construction company arose from the growth in development volumes and the timing of Arco Vara's developments, where clear long-term construction volumes have emerged. "We came to a situation where several construction companies were not ready to enter into long-term and large-scale contracts, but Arco Vara wants to be the master of its own commercial schedule," says Miko-Ove Niinemäe, CEO of Arco Vara.
The construction company's margin on the construction of Arco Vara's developments is limited, meaning that the construction company operates for the profitability of the entire development and is not an independent profit-making entity.
The new construction company's first project is the Kodulahe Rannakalda residential development near the Stroomi beach.
Arco Vara AS
+372 614 4630