Arco Vara expands its activities in Romania

Arco Vara opens its new branch in Romania, Cluj, which is 30th office for the
company operating over 6 countries in Eastern Europe. 

“Cluj has one of the most dynamic economical developments in Romania, with
total inhabitants of approx. 310 000 people,” says the Member of Management
Board and Head of Services Division of the group, Avo Rõõmussaar. “Within the
last few years the local real estate sector has also been in active development
with overall annual price increase approx. 30%.” 

Arco Vara expanded to Romania in the beginning of 2007 and is today operating
in 4 regions of the country - besides the new Cluj office also in Bucharest,
Timisoara and Arad. The activities in Romania are operated by Arco Real Estate
Consulting SRL, a subsidiary of Arco Vara group. 

In 2007 Arco Vara group opened 6 new offices on its domestic markets.
 
Arco Vara started in 1992 as a real estate agency in Estonia and has become a
leading real estate group in the Baltic States undergoing a CEE expansion with
presence in Bulgaria, Romania and Ukraine. The company is operating in
brokerage, development and construction sectors, and has offices in 29 cities
across the Baltic's as well as Ukraine, Bulgaria and Romania. The group
employees over 600 people. The consolidated turnover of Arco Vara AS in 9
months of 2007 was 43,9mln EUR and net profit 16,9mln EUR. AS Arco Vara is a
public company, listed on Tallinn Stock Exchange. 

For further information about the company please visit
http://www.arcorealestate.com/. 


Additional information: 
Kadri Mätik
marketing/PR manager
Arco Vara group
+372 6144 590
+372 505 1239
Kadri.Matik@arcovara.ee
www.arcorealestate.com