Market announcement
Arco Vara AS
LEI code
097900BHCB0000066171
Size of the entity
Small group
Economic activities
Professional, Scientific and Technical Activities
Country of registered office
Estonia
General information
Categories
Other corporate action
Unique data record identifier
7659
Submission date and time
19.12.2019 12:49:08
Content of announcement in Estonian
Title
Arco Vara alustab lähiajal Iztok Parkside projekti korterite lõppmüüki
Message
18.12.2019 kiitis Bulgaaria valitsus heaks teatud Iztok Parkside arendusprojekti alla jäävate maatükkide üleandmise Sofia linnale. Varasemalt oli Sofia Linnavalitsus juba heaks kiitnud nende maatükkide ülevõtmise riigilt. Nende otsuste tulemusena saab Arco Vara AS-i tütarfirma Iztok Parkside EOOD lõpetada tänavate aluse infrastruktuuri väljaehitamise ning taotleda kasutusluba projekti kolmele hoonele. Ettevõte hakkab kortereid klientidele üle andma juba 2020 jaanuaris ning plaanib kõigi korterite müüki ja üleandmist 1. poolaasta lõpuks. Arco Vara juhi Tarmo Sild'i kommentaar: ?Valitsuse otsus on Iztoki projektis suur samm edasi. Lõpuks on arvukad insenertehnilised, administratiivsed, juriidilised ja poliitilised protsessid saanud selliselt ühele joonele, et projekt hakkab lähenema edukale lõpule. Seni oleme olnud oma 2016. aasta äriplaanist ajaliselt maas. Seniste eelmüükide info annab aga julgust oodata üle 9 mln suurust müügikäivet ja korralikku kasumit 2020. aasta esimeses poolaastas. Avaldame oma aktsionäride ees kahetsust, et me ei saavutanud käibe- ja kasumieesmärke õigeaegselt, kuid pärast umbes 150 allkirja kogumist, mida see projekt seni on vajanud, tunneme praegu siiski heameelt. Toit meie köögis on valmis saamas." Kristel Tumm Finantsjuht Arco Vara AS Tel: +372 614 4662 [email protected]
Content of announcement in English
Title
Arco Vara will commence the final sale of Iztok Parkside apartments in near future
Message
On December 18 2019, Bulgarian Government approved the transfer of certain individual land plots that remain underneath the public streets in Iztok Parkside project, to Sofia City. Previously the Sofia City Council had already approved accepting these land plots from the state. As a result of those decisions, Arco Vara's subsidiary Iztok Parkside EOOD is legally able to proceed with completion of public utilities infrastructure underneath the access streets and obtaining occupancy permits for the project's three buildings. The company will start delivering apartments to clients already in January and forecasts 100% delivery and sale by end of H1 2020. Arco Vara's CEO Tarmo Sild comments: "The decision of the Government is a major milestone in the Iztok Parkside project. It aligns finally the dynamics of multiple engineering, administrative, legal and political processes to the effect, that we finally see the project coming to a successful end. As of now, we are behind the timeline set in our own 2016 business plan. But the existing presale data is very encouraging indicator to the possibility that we will achieve more than 9 million EUR sale revenue and considerable net profit during H1 2020. We regret before our shareholders, that we did not meet the set sale and profit targets in time, but we are nevertheless happy after more than 150 decision-making signatures, that this project has so far required. Our kitchen starts to deliver." Kristel Tumm CFO Arco Vara AS Tel: +372 614 4662 [email protected]