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ARC: Detailed plan for the property at Paldiski Street 80 enforced

Spekuliantai.lt | 2010-01-26 | NASDAQ OMX biržų naujienos | perskaitė: 1651
Raktiniai žodžiai: Arco Vara AS, ARC
ARC: Detailed plan for the property at Paldiski Street 80 enforced

Arco Vara Company Announcement 26.01.2010

Detailed plan for the property at Paldiski Street 80 enforced

By the decision No. 239 of 26 November of the Tallinn City Council, the
detailed plan for the surroundings of the property at Paldiski Street 80 was
approved. The property at Paldiski Street 80 belongs to Wilson Kinnisvara OÜ, a
100% subsidiary of Arco Investeeringute AS.

The intended purpose of the property of 8,200 m² is commercial land. The
maximum gross enclosed area allowed by the detailed plan is: on ground - 24,000
m², underground - 6,300 m². The number of planned parking places is 257.

The only difference from the current comprehensive plan is an increase in the
planned height of the building. The maximum height of the building will be 44
meters and up to 12 storeys, however, this will not apply for the whole
building volume.

The detailed plan was approved more than 30 calendar days ago. During this
period, the detailed plan has not been contested. Now the deadline for raising
claims is expired and the detailed plan approved for the surroundings of the
property at Paldiski Street 80 has entered into force.

Arco Vara is a leading real estate developer in the Baltic's, established in
1992. The operations involve real estate development, brokerage, valuation,
construction and property maintenance arm. The company is located in 17 cities
in Estonia, Latvia, Ukraine and Bulgaria and employs ca 170 people.

Arco Vara AS is listed on Tallinn Stock Exchange.

1 EUR = 15.6466 EEK

Lembit Tampere
Member of Management Board
Arco Vara AS
phone: +372 614 4630
info@arcovara.ee
www.arcorealestate.com

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