In December, inflation was still rapid, but on a downward trend, in Estonia. Inflation decelerated to 17.6%, over the year, and declined by 0.1%, over the month. Price growth is slowing due to a decline in energy prices brought by…
The owner of Europa Shopping Centre in Vilnius, BH Europa UAB, an SPV of Baltic Horizon real estate fund, signed and closed a real estate sale and purchase agreement with UAB “Prime Location Property Fund” on Friday, 30 December 2022,…
Kuigi ajad on keerulised, on huvi luksusliku ja eksklusiivse kinnisvara vastu endiselt kõrge. See on varaklass, mille väärtus kasvab stabiilselt ning mis elab paremini üle ka majanduse mõõnaperioodid. Hea arhitektuuri austaja ning kinnisvaraturul tegutsejana on mul rõõm tõdeda, et Eesti…
Inflation in the Baltics has been two times faster than the EU average. There are many supply- and demand-side factors at play. Pandemic-related supply-side bottlenecks were exacerbated by the war in Ukraine, which cut trade ties with Russia that were…
In Estonia, GDP fell more than expected in the third quarter. GDP declined by 1.8% over the previous quarter and 2.3% over the year. In nominal terms, GDP increased notably, by 13.9% in a year, marking very high price increases.…
MANAGEMENT REPORT CEO summary The third quarter of 2022 continued the trend we have seen in Q2, with a strong demand for real estate assets in the Baltic countries (particularly Estonia and Lithuania). The market still seems resilient, despite the…
Arco Invest EOOD, subsidiary of Arco Vara AS, has concluded a preliminary contract for sale of the commercial building Madrid BLVD in the capital of Bulgaria. The transaction costs 9.1 million euros and the final sales document will be signed…
Management Board of Northern Horizon Capital AS has approved the unaudited consolidated interim financial statements of Baltic Horizon Fund (the Fund) for the first nine months of 2022. Net result and net rental income The Group recorded a net profit…
Despite the difficult economic environment, the group’s 9-month result is characterized by an increase in sales revenue and operating profit. Results for the Buildings and Infrastructure segments differ significantly. Although the profitability of the Buildings segment decreased in the 3rd…
COMMENTARY FROM MANAGEMENT Merko Ehitus revenue was EUR 110 million in Q3 2022 and the revenue for the first nine months of the year amounted to EUR 266 million, while the respective figures for net profit were EUR 9.8 million…
rThe consolidated sales revenue of Hepsor for the first nine months of 2022 amounted to 5.6 million euros (including 1.7 million euros in Q3 2022) and the net loss was 0.1 million euros (including a net profit of 0.1 million…
The EfTEN United Property Fund earned 1,34 million euros in revenue and 1,16 million euros in net profit in the nine months of 2022. In the 3rd quarter of 2022 revenues amounted to 361k euros and net profit to 308k euros.…
Botanica Lozen EOOD, a subsidiary of Arco Vara AS, has signed a construction contract with Strabag EAD for the development of the first stage of its residential project – Botanica Lozen Residences. Construction works are expected to begin in November.…
GROUP CEO’S REVIEW The cooling of the real estate market in the third quarter did not cause panic in Arco Vara’s developments. The planned final sales of the Kodulahe quarter were held as expected and there was no visible concern…
Annual inflation decelerated slightly in September as electricity prices declined. In September, prices rose by 23.7%, over the year, and 0.3%, over the month. Around half of the annual change in prices came directly from higher energy prices, especially electricity…