{"id":5912,"date":"2026-02-26T07:13:10","date_gmt":"2026-02-26T07:13:10","guid":{"rendered":"https:\/\/arcovara.com\/?p=5912"},"modified":"2026-02-26T07:34:12","modified_gmt":"2026-02-26T07:34:12","slug":"arco-vara-significantly-increased-its-development-volume-and-announced-a-new-ceo","status":"publish","type":"post","link":"https:\/\/arcovara.com\/en\/arco-vara-significantly-increased-its-development-volume-and-announced-a-new-ceo\/","title":{"rendered":"Arco Vara significantly increased its development volume and announced a new CEO"},"content":{"rendered":"<div class=\"block block-paragraph gutters\"><section class=\"content-block content-text\"> <div class=\"container\">\n<p><strong>The unaudited financial results of real estate developer Arco Vara for 2025 reflect the company\u2019s focus on expanding its development portfolio and advancing key projects into their next stages. According to the company\u2019s CEO, the investments made create a foundation for sales volumes in the coming periods.  <\/strong><\/p>\n<\/div><\/section><\/div><div class=\"block block-paragraph gutters\"><section class=\"content-block content-text\"> <div class=\"container\">\n<p>\u201cFor Arco Vara, the fourth quarter was an active period, during which we focused both on launching new projects and on the consistent advancement of existing developments,\u201d said Kristina Mustonen, CEO of Arco Vara.<\/p>\n<\/div><\/section><\/div><div class=\"block block-paragraph gutters\"><section class=\"content-block content-text\"> <div class=\"container\">\n<p>2025. During 2025, the company\u2019s total assets more than doubled, reaching \u20ac86.2 million by the end of the year. Annual revenue amounted to \u20ac7.7 million, increasing by \u20ac208,000 compared to the previous year. Net loss for the 12-month period was \u20ac479,000, representing an improvement of \u20ac145,000 compared to the previous year.  <\/p>\n<\/div><\/section><\/div><div class=\"block block-paragraph gutters\"><section class=\"content-block content-text\"> <div class=\"container\">\n<p>According to Mustonen, the first three quarters of the year ended with a modest profit, while lower-than-expected sales volumes in the fourth quarter impacted the full-year result; sales activity was also limited by a low number of available units at the end of the year. \u201cReal estate development is a cyclical business, and revenue depends largely on project completion and the handover of homes,\u201d Mustonen explained. \u201cLast year, we focused on increasing development volumes and launching new projects, and therefore expect the revenue from these developments to materialise in the coming periods.\u201d  <\/p>\n<\/div><\/section><\/div><div class=\"block block-paragraph gutters\"><section class=\"content-block content-text\"> <div class=\"container\">\n<p>During the year, Arco Vara significantly expanded its development portfolio by acquiring new development projects in central Tallinn at the Luther Quarter and on Spordi street in Kristiine. Construction works commenced at the Spordi development, while construction also began simultaneously at the Soodi project in the Kodulahe quarter. By the end of the year, 16 out of 56 homes had been sold under preliminary sale agreements in the Spordi development, and 22 apartments and commercial units out of 66 in the Soodi 6 development. Both projects are scheduled for completion by the end of the current year.   <\/p>\n<\/div><\/section><\/div><div class=\"block block-paragraph gutters\"><section class=\"content-block content-text\"> <div class=\"container\">\n<p>Over the course of the year, 18 homes were sold in the Kodulahe Rannakalda development, and the sale of the remaining eight units will continue in 2026. In December, the penultimate home was sold in the Kuldlehe development in Pirita, with one apartment still available. In mid-October, the detailed plan for the Arcoj\u00e4rve development near Lake Harku was adopted, and the process has reached its final stage before approval. In the final month of the year, pre-sales of the first phase of the Luther Quarter also commenced.    <\/p>\n<\/div><\/section><\/div><div class=\"block block-paragraph gutters\"><section class=\"content-block content-text\"> <div class=\"container\">\n<p>Arco Vara also announced to the stock exchange that the Supervisory Board has appointed Rait Riim as the company\u2019s new CEO, with his mandate beginning on 1 April 2026. Riim has 20 years of experience in the real estate sector, including serving as a member of the Supervisory Board of Arco Vara AS from 2020 to 2021. \u201cThe Supervisory Board is very pleased that Rait Riim is joining the Arco Vara team and will help deliver the company\u2019s long-term objectives, which are to ensure the company\u2019s growth and stable profitability,\u201d commented Kert Keskpaik, Chairman of the Supervisory Board of Arco Vara.   <\/p>\n<\/div><\/section><\/div><div class=\"block block-paragraph gutters\"><section class=\"content-block content-text\"> <div class=\"container\">\n<p>In the current year, Arco Vara will focus on advancing its major projects into the next stage \u2013 including preparing for construction in the Luther Quarter and finalising the detailed plan for Arcoj\u00e4rve. At the same time, construction will continue at the Soodi 6 and Spordi developments, alongside active sales of completed apartments. <\/p>\n<\/div><\/section><\/div>","protected":false},"excerpt":{"rendered":"<p>The unaudited financial results of real estate developer Arco Vara for 2025 reflect the company\u2019s focus on expanding its development portfolio and advancing key projects into their next stages. According to the company\u2019s CEO, the investments made create a foundation for sales volumes in the coming periods. \u201cFor Arco Vara, the fourth quarter was an [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":5895,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-5912","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Arco Vara significantly increased its development volume and announced a new CEO - Arco Vara<\/title>\n<meta name=\"description\" content=\"The unaudited financial results of real estate developer Arco Vara for 2025 reflect the company\u2019s focus on expanding its development portfolio and advancing key projects into their next stages. 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According to the company\u2019s CEO, the investments made create a foundation for sales volumes in the coming periods.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/arcovara.com\/en\/arco-vara-significantly-increased-its-development-volume-and-announced-a-new-ceo\/\" \/>\n<meta property=\"og:site_name\" content=\"Arco Vara\" \/>\n<meta property=\"article:published_time\" content=\"2026-02-26T07:13:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-02-26T07:34:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/arcovara.com\/wp-content\/uploads\/2025\/04\/arcovara14072024-188-1024x633.jpg\" \/>\n<meta name=\"author\" content=\"henrika\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"henrika\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/arcovara.com\\\/en\\\/arco-vara-significantly-increased-its-development-volume-and-announced-a-new-ceo\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/arcovara.com\\\/en\\\/arco-vara-significantly-increased-its-development-volume-and-announced-a-new-ceo\\\/\"},\"author\":{\"name\":\"henrika\",\"@id\":\"https:\\\/\\\/arcovara.com\\\/#\\\/schema\\\/person\\\/bdb7b0df8422e30400c274ac52427650\"},\"headline\":\"Arco Vara significantly increased its development volume and announced a new CEO\",\"datePublished\":\"2026-02-26T07:13:10+00:00\",\"dateModified\":\"2026-02-26T07:34:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/arcovara.com\\\/en\\\/arco-vara-significantly-increased-its-development-volume-and-announced-a-new-ceo\\\/\"},\"wordCount\":560,\"publisher\":{\"@id\":\"https:\\\/\\\/arcovara.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/arcovara.com\\\/en\\\/arco-vara-significantly-increased-its-development-volume-and-announced-a-new-ceo\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/arcovara.com\\\/wp-content\\\/uploads\\\/2026\\\/02\\\/251118_courtyard-scaled.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/arcovara.com\\\/en\\\/arco-vara-significantly-increased-its-development-volume-and-announced-a-new-ceo\\\/\",\"url\":\"https:\\\/\\\/arcovara.com\\\/en\\\/arco-vara-significantly-increased-its-development-volume-and-announced-a-new-ceo\\\/\",\"name\":\"Arco Vara significantly increased its development volume and announced a new CEO - Arco Vara\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/arcovara.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/arcovara.com\\\/en\\\/arco-vara-significantly-increased-its-development-volume-and-announced-a-new-ceo\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/arcovara.com\\\/en\\\/arco-vara-significantly-increased-its-development-volume-and-announced-a-new-ceo\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/arcovara.com\\\/wp-content\\\/uploads\\\/2026\\\/02\\\/251118_courtyard-scaled.jpg\",\"datePublished\":\"2026-02-26T07:13:10+00:00\",\"dateModified\":\"2026-02-26T07:34:12+00:00\",\"description\":\"The unaudited financial results of real estate developer Arco Vara for 2025 reflect the company\u2019s focus on expanding its development portfolio and advancing key projects into their next stages. 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