Arco Invest UAB, a 100% subsidiary of Arco Investeeringute AS, signed a land acquisition deal in Vilnius, Lithuania. Two land plots in total size of 4 000 m2 situates in the district of Santariske and has a construction right of 6 500 m2. „Current market situation provides to Arco Vara favorable options in the Baltic's, that are necessary for the success of our long-term strategy“, says the CFO, Mr. Aare Tammemäe. In three years the company plans to construct there residential spaces. The acquisition is funded 100% by equity. Total expected capex of the project including the land acquisition is around 8,5 million eur. 1 EUR=15,6466 EEK Additional information: Heigo Metsoja Head of Investor Relations +372 6144 654 heigo.metsoja@arcovara.ee www.arcorealestate.com
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