Arco Investeeringute AS, a subsidiary of Arco Vara AS, obtained building and navvyng permits for Merivälja2 development area to build roads, utility networks and communications. Arco Ehitus OÜ begun with the preparation of the construction site yesterday. The construction will continue until the end of September while roads, street lightning, water, sewerage, gas pipelines and telecommunication networks will be built in order to supply the living area. The total cost of the construction work is 16,2 mln kroons (1,0 mln euro). The investment is financed by Handelsbanken.
According to the head of Arco Vara's development division Mr.Veiko Taevere the area of Merivälja2 is highly valued living environment because of the greenery and location near the seaside. Merivälja2 is the place where you want to build
your home for decades. "Our clients have been waiting for the start of construction. Merivälja living area will be completed living district with new roads, plots and nearby located school and kindergarten" he commented. In last stage of the Merivälja2 development Arco Investeeringute AS has 56 plots for sale with the total area of 6,8 ha. The average size of the plot is 1200 m2.
Before the beginning of the construction 5 plots have been sold and 3 plots are booked. For more detailed information: http://www.merivalja.ee
Arco Vara is one of the leading real estate developer in the Baltic's, operating also in Ukraine and Bulgaria. Core business is real estate development supported by brokerage network, construction arm and property management. The company has offices in 18 cities and employs ca 260 people.
Arco Vara is listed on Tallinn Stock Exchange.
1 EUR=15.6466 EEK