Major investor in residential complexes leaves Bulgaria

Estonian real estate company Arco Vara, an investor in large residential complexes in Sofia, is leaving the Bulgarian market. The company announced that the sale of its assets in Bulgaria is already underway and that several Bulgarian real estate entrepreneurs have expressed interest in them and will have the opportunity to conduct due diligence and submit offers for acquisition.

This strategic decision, approved by the company's Supervisory Board in July 2025, is the result of a careful assessment of its long-term goals and market opportunities.

This decision was not taken lightly – we have achieved significant results in Bulgaria, built a strong team and delivered high-quality projects that we can be proud of. However, from the perspective of long-term growth and value for Arco Vara's shareholders, it is strategically justified to focus our attention on Estonia, where the potential of our projects is greater than ever today," commented Kert Keskpaik, Chairman of the Supervisory Board of Arco Vara.

Since entering the Bulgarian market in 2006, the company has built numerous residential complexes in Sofia, including Manastirski Livadi in southern Sofia, Iztok Parkside in the city center, the mixed-use Madrid BLVD building, and the Botanica Lozen residential area.

By freeing up resources from Bulgaria, we will be better positioned to realize the growth potential of our Estonian projects and strengthen our position in the domestic market," said Kristina Mustonen, member of the company's Management Board.

Translated with DeepL.