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Real estate market news

At 21.03, at an official ceremony for the third edition of "Annual Awards of Imoti.net" Arco Real Estate was awarded in two of the most competitive categories - Dynamically Developing Real Estate Agency and Real Estate Agency of the Year in Bulgaria.

The traditional “Annual Awards of Imoti.net" distinguishes good practice in the real estate sector not only of the agencies in the industry but also the professionals who have won the trust of their clients.

In the competition for best agencies and experts in the property industry for 2018, the third edition of the contest "Annual Holidays of Imoti.net" included more than 200 companies. This year, the organizers from the leading site Imoti.net reported increased interest in the competition and by the users, with more than 4,000 people voting in the "Agency of the Year" and "Best Agency Website" categories.

The awards were given to a stylish event, organized by Imoti.net, which enjoyed great interest both from the colleagues in the industry and from the media.

Kaarel Paap

Kaarel Paap

Broker of Commercial Real Estate

Mobile +372 5332 2451
Telephone +372 614 4600
View broker objects (104)

A modern workplace in an office is no longer a couple of square meters large floor surface with a desk, desk lamp and an office chair, but something much more, writes the business premises broker at Arco Vara, Kaarel Paap.

It is not a secret that it is very difficult to find tenants to C Class office premises in older houses, where the owner has not taken the care to invest, since many companies cannot offer an old-fashioned working environment for the employees any longer. People have become more aware and salary is no longer the only motivation which makes people leave home in the morning and get to work. A pleasant, comfortable and functional work environment has become increasingly important.

This means that the employer must be able to offer simultaneously the technology needed for working and the spaces as well as the possibility for private space, relaxation and taking it slowly. A work environment that offers good emotions must have a friendly and pleasant work environment and be free of discrimination.

Meanwhile, flexibility must be preserved, since the wider the possibilities for working, the more likely it is to get done more. For this, contemporary technological solutions must be used to enable working also outside of office. In periods of flu, it is important to keep away people infected; however, some tasks cannot wait until the day after tomorrow – a text file sent from home is better than a text submitted later. And if you forgot to send this “one” file before vocation, it is easier to do it during vocation than start to explain to a colleague in the office what exactly needs to be done.

Offer a healthy work environment

Valued employers are those who besides meeting of obligatory health requirements (ventilation, lighting, ergonomic solutions) enable more to their employees. Creation of sporting possibilities, a bike garage or a park and respective washing and dressing possibilities are elementary in many offices. The possibility to have lunch on a roof terrace or balcony in case of nice weather or to just take a short rest is an addition to nice salary.
Companies need to be ready that depending on the nature of the work and the tools used, workplaces might not be located in the rooms exactly like prescribed in the office planning phase. Moreover, the locations of employees can change with time. Thus, the spatial solution of the office must leave flexible solutions for positioning and repositioning of workplaces.

By winter, for example, one such new business building will be completed in Kadriorg, next to the Song Festival Grounds, where all modern requirements on office premises have been already accounted with during design. The net surface of the business building is ca 850 m². A smart house system is being used – underfloor water heating and cooling controlled by mobile, ventilation with heat recovery and high windows that ensure rooms with lots of light. In addition, parking places, storerooms and of course a good location –Pirita promenade, Tallinn Song Festival Grounds and the gorgeous Kadriorg castle and Japanese garden are within a short walk.

Kaarel Paap

Kaarel Paap

Broker of Commercial Real Estate

Mobile +372 5332 2451
Telephone +372 614 4600
View broker objects (104)

Considering the recent trends of business premises, the good location of an office building is more important than parking possibility, writes business premises broker at Arco Vara, Kaarel Paap.

Modern city space means valuing environment, where energy-efficient bureau buildings, environment-friendly transport solutions, green areas and the division of street space for the sake of pedestrians and light vehicles are on the foreground.

Similarly to changes in the urban milieu, people expect also from their workplace much more than simply a place to work. Hence, it is no longer most important to work in a city centre office reminiscent of a glass box, possess a parking place and pay for it hundred or more euros a month. More important appears to be the possibility to get to work comfortably by public transport or for the sake of health, on foot or by bike.

Nowadays, everyone has little time and office premise developers, wishing to offer great solutions for customers, need to pay ever more attention to efficiently joining people’s work and leisure time. Thus, in terms of office buildings, most significant issues concern the location of cycle and pedestrian tracks, green areas, public transport options and possibilities for washing and dressing.

In Tallinn, one of the most important aspects for companies is becoming the location of bureau premise in an area of cultural and environmental value, such as Kadriorg and especially the park, where construction of additional buildings is not a concern.

One such business building is under construction by Narva hwy at the area between Tallinn song festival ground and Kadriorg park. The architectural shape of this Narva hwy 116 building has been designed attractive, valuing the milieu of Kadriorg. Within a short walk from that house, you can find Pirita promenade, Tallinn song festival ground, KUMU art museum and the gorgeous Kadriorg castle with the Japanese garden.

The building’s external look is shaped by its main materials dolomite and glass, which have been designed in a modern minimalistic style. Along the plot border, a metal bordering fence of edged steel will be built on the supportive wall. In order to emphasize the verticality of the building, high windows have been designed.


Kaarel Paap

Kaarel Paap

Broker of Commercial Real Estate

Mobile +372 5332 2451
Telephone +372 614 4600
View broker objects (104)

In January, construction of an extraordinary office building began in Tallinn in Kadriorg, at Narva hwy 116. The building has 5 floors: 4 above ground and 0-level floor.


„The building’s unique location ties in itself Kadriorg park, the beach promenade, Narva highway and Pirita road. High floors and glass windows offer lots of light and spaciousness, providing a dashing environment, where smart house system is used to ensure high quality indoor climate - this ensures a perfect environment in great location,“ commented business premises broker at Arco Vara, Kaarel Paap.


The building has high windows (2,6 m) and ceilings (3 m), gas-heated underfloor heating, ventilation system with heat recovery and cooling system – controllable via smart house technology. Due to it’s unique location, the building’s attractive architecture has been designed by valuing the milieu of Kadriorg – the building’s external look is shaped by dolomite and glass.


Access to all floors by lift or via staircase hall. The staircase part of the façade is fully covered with glass, ensuring transparency and lots of light at the main entrance.


The building has thirteen parking lots on the ground and 0-level floor. Construction works will be completed by the end of 2017. The sales procedure is managed by Arco Vara.


More information about N116: www.arcovara.ee/en/n116


Arco Vara
Minutes of annual general meeting

Decisions of Annual General Meeting of Shareholders of Arco Vara AS

The annual general meeting of shareholders of Arco Vara AS held on 30 May 2017 adopted the following decisions:

  1. To approve the annual report of Arco Vara AS for 2016;

  1. To cover the net loss for the year ended on 31 December 2016 in the amount of 832 thousand euros from retained earnings;

    to pay dividends to the shareholders 0.01 euros per share, in the total amount of 65 070.12 euros. The list of shareholders entitled to dividends shall be fixed as at 14 June 2017, 23:59 PM. Dividends shall be paid to the shareholders by transfer to the bank account of the shareholders on 16 June 2017.

  1. To increase the share capital of Arco Vara AS conditionally by issuing up to 12 convertible bonds with the nominal value of 500 euros each in accordance with the conditions of the convertible bonds which are included in the materials of the AGM made available to the shareholders;

    provided that the net profit of Arco Vara group for the years 2017-2019 is at least 5.5 million euros, the convertible bonds will give the owners the right to subscribe for the total of up to 200,000 shares of Arco Vara AS for 0.7 euro per share starting from 10 May 2020 until 31 December 2020;

    in case of subscription the Management Board of Arco Vara may increase the share capital by up to 140,000 euros, i.e by 200,000 shares;

    the existing shareholders will waive their pre-emptive rights for the subscription of the convertible bonds as well as the pre-emtive rights for the shares issued after the conversion of the convertible bonds.

  1. To appoint an auditor for one year (until the next annual general meeting of shareholders) and appoint PricewaterhouseCoopers AS as the auditor. To pay the auditor for auditing the 2017 annual report according to the agreement concluded between Arco Vara AS and PricewaterhouseCoopers AS.


         Evelin Kanter
         Head of Legal Department
         Arco Vara AS
         Tel: +372 614 4594
         This email address is being protected from spambots. You need JavaScript enabled to view it.

Arco Real Estate Bulgaria was financed by the Operational Programme "Human Resources Development", financed by the European Union through the European Social Fund. The project is worth 216 259.24 lv.

The overall aim of the project is to provide preconditions for creation of sustainable jobs in Arco Real Estate Bulgaria for the unemployed and inactive persons with priority to integrate in the labor market of vulnerable groups and unemployed young people under 29 years of age, long-term unemployed and unemployed over 54 years. This will satisfy the need of company to create new positions.

The project provides the hiring of Arco Real Estate Bulgaria of 15 unemployed and inactive persons and aims to provide them with employment and integration into the labor market. Envisaged to implement project activities aim to create preconditions and terms to hire new employees, training on key competence 4 "Digital competence" to acquire knowledge and skills in software program for working with spreadsheets and to secure workflow by purchasing the necessary equipment, furniture and software for 15 jobs for the 15 representatives of the target group.



"АРКО ИМОТИ" ЕООД“, беше финансиран от Оперативна програма „Развитие на човешките ресурси“, съфинансирана от Европейския съюз чрез Европейския социален фонд . Проектът е на стойност 216 259,24 лв.

Общата цел на проекта е да се осигурят предпоставки за създаване на устойчиви работни места в „АРКО ИМОТИ“ ЕООД за безработни и неактивни лица, с приоритет към интегриране на пазара на труда на уязвимите групи на безработните младежи до 29 годишна възраст, продължително безработните и безработните над 54 г. По този начин ще се удовлетвори необходимостта на предприятието от разкриване на нови работни места.

Той предвижда наемането от „АРКО ИМОТИ“ ЕООД на 15 безработни и неактивни лица и цели да им осигури заетост и интегриране на пазара на труда. Предвидените за изпълнение дейности по проекта целят създаване на предпоставки и условия и наемане на нови служители, провеждане на обучение по ключова компетентност 4 „Дигитална компетентност“ за придобиване на знания и умения по софтуерна програма за работа с електронни таблици и обезпечаването на работния процес чрез закупуване на необходимото оборудване и обзавеждане и софтуер за 15 работни места за 15те представители от целевата група.




Tallinn, Rävala pst 5, 10143+372 614 4600 info@arcovara.ee

Tartu esindus

Tartu, Soola 8, 51013+372 744 2218 tartu@arcovara.ee

Pärnu esindus

Pärnu, Rüütli 47, 80010+372 447 1430 parnu@arcovara.ee

Viljandi esindus

Viljandi, Lossi 18, 71003+372 435 9969 viljandi@arcovara.ee

Rakvere esindus

Rakvere, Laada 14, 44310+372 324 0888 rakvere@arcovara.ee

Põlva esindaja(d)

Jõhvi esindus

Jõhvi, Rakvere 16, 41532+372 337 0400 johvi@arcovara.ee

Narva esindus

Narva, Aleksander Puškini 28-202, 20307+372 35 77 227 narva@arcovara.ee

Haapsalu esindaja (d)

Kuressaare esindus

Otepää esindaja(d)

Paide esindaja (d)

+372 512 4236 paide@arcovara.ee

Võru esindaja(d)

Hiiumaa esindaja (d)

Põltsamaa esindaja (d)

Valga esindaja (d)

Jõgeva esindaja (d)

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