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Explanation by Arco Vara to the information published this morning on entering the passive house market

Teade

Arco Vara gives explanations to the misinformation published this morning under
the headline „Arco Vara entered the passive house market“. 
Arco Vara did not enter a new market, instead, Arco Vara Kinnisvarabüroo AS, a
100% subsidiary of Arco Vara, concluded a cooperation agreement with OÜ Thermo
Module Group. Under the agreement, the employees of Arco Vara Kinnisvarabüroo
receive free training on the technology and energy saving features of passive
houses. The employees of Arco Vara Kinnisvarabüroo are entitled to a brokerage
fee when selling a passive house. 

The Arco Vara group will not enter into any financial commitments under the
agreement. The aim of OÜ Thermo Module Group under the cooperation is an
expansion outside Tallinn by using the Arco Vara Kinnisvarabüroo office
network. Arco Vara Kinnisvarabüroo has offices or representatives in 11
Estonian regions. 

A corrected release was:
Arco Vara Kinnisvarabüroo enters into cooperation with passive house
manufacturer 
Today, Arco Vara Kinnisvarabüroo AS concluded a cooperation agreement with OÜ
Thermo Module Group, a manufacturer of a leading German passive house. Passive
houses are energy efficient houses marked with energy class A. According to the
cooperation agreement, the Arco Vara group will start introducing the
possibilities of passive houses to its customers. 

As a starting point of cooperation, the first Estonian sample passive house in
Jõelähtme can be considered as its construction and technology were of interest
for the Arco Vara group. 

Today, the partners signed the letter of intent which sets out a wider use and
introduction of the new energy-saving construction technology in Estonia. Based
on this technology, the German company will manufacture at least 580 low-energy
buildings, both public and private buildings. 

According to Lembit Tampere, Chair of the Management Board of Arco Vara AS, the
passive house market is growing fast. „Based on the newest information,
approximately 25% per year,“ Tampere added. 
The growth in passive house market is also supported by the EU directive
setting out that by 2021, all new buildings have to have a very low energy
consumption. „We believe that now is the right time to start dealing with the
subject of energy efficient buildings in Estonia. Our aim is that in the near
future, people are able to get from any Arco Vara office basic information on
passive houses and their construction, “ Tampere said. 

According to Renee Padar, Chair of the Management Board of OÜ Thermo Module
Group, this year has clearly shown that the awareness in Estonia in the field
of energy saving is increasing day bay day. "The construction site of the
Jõelähtme passive house is visited by very many people. As the annual heating
energy consumption of this house will be 3500 kW, i.e. 4,500 kroons (267,60
EUR) per year, we have received orders for building similar houses. The
construction of the house can be monitored in real time on the web page of the
Climate and Energy Agency (Kliima- ja Energiaagentuur. This shows people that a
low-energy house can be built very quickly and easily,“ Padar said. 

OÜ Thermo Module Group is a company based on Estonian capital and having four
owners. Last week, a holding in Thermo Module Group OÜ was obtained by OÜ HM
Investeeringud. The OÜ HM Investeeringud holds 21.8% of the shares of Arco Vara
AS. 

Founded in 1992 Arco Vara is one of the leading property developers in the
Baltic States. The main business of the company is property development, which
is supported by the group's own property brokerage, valuation, construction and
property management units. The company has representative offices in 17 towns
across Estonia, Latvia, Ukraine and Bulgaria. The Group employees ca 160
people. 

Lembit Tampere 
Member of the Management Board 
Arco Vara AS 
Tel: +372 614 4630 
[email protected]
http://www.arcorealestate.com/