Invego Group OÜ (registry code 16281679, address Telliskivi tn 51a, 10611 Tallinn, Estonia; hereinafter Invego Group) hereby announces a public offering of its unsecured bonds (the Offering). The Offering will be conducted on the basis of the information document published…
MANAGEMENT REPORT Real Estate Development Tallinn During the fourth quarter of 2025 we completed the construction of the white building in our Uus- Kindrali project, located in Kristiine City, Tallinn. Client inspections and the signing of real rights agreements commenced…
With the ECB’s rate-cutting cycle likely over, further changes in affordability will primarily depend on wage-price dynamics Government policy changes in Estonia and Lithuania will provide an additional boost to market activity in 2026 With borrowing costs remaining flat in…
GROUP CEO’S REVIEW The fourth quarter of 2025 in the Estonian real estate market was overall stable, but fell short of the expectations set at the beginning of the year. The market was no longer in a downturn phase; however,…
Volta SKAI OÜ (registry code 16359341, address Maakri tn 19/1, 10145, Tallinn, Estonia; Volta SKAI) established a secured note programme (the Programme) in September 2025 in the total amount of EUR 30 million. The first and second issuances of notes issued under the…
On 17 February 2026, a webinar of EfTEN United Property Fund was held, where Kristjan Tamla, the managing director of EfTEN Capital AS, introduced the unaudited 2025 results of EfTEN United Property Fund and discussed the plans of the fund.…
Bonds Volta SKAI bonds are a secured bond programme of 30 million euros to finance the Volta SKAI development. In the second half of 2025, the first two series of the programme were carried out, with the total volume of…
EfTEN United Property Fund earned a net profit of 223 thousand euros in January (the same period last year: 408 thousand euros). Decrease in profit was primarily related to the investment in EfTEN Real Estate Fund AS shares, which share…
Enlight Research updated the equity research and price target of EfTEN Real Estate Fund AS (EfTEN; EFT1T) shares. According to the analysis, the fair value of the share is 22.69 euros under the base scenario. This is almost 15% higher…
Compared to the optimistic forecasts at the beginning of the year, Estonia’s economy grew modestly by 1%, according to preliminary estimates. The construction market stabilised, with a slight increase in activity in the second half of the year in both…
Alike in previous quarter, the market remained active in the fourth quarter of 2025. A total of 60 sales contracts (contracts under the law of obligations) were signed during the quarter (Q3 2025: 60; Q4 2024: 34). In the 12…
Fund Manager’s Commentary Despite a challenging economic environment, EfTEN Real Estate Fund AS succeeded in 2025 in increasing both total consolidated rental income (+3%) and portfolio EBITDA (+1.3%). During 2025, the Fund’s subsidiaries made new investments amounting to €6.6 million…
On January 15, 2026, UAB Merko Statyba, part of the AS Merko Ehitus group, and the Lithuanian Ministry of Defence signed two separate public-private partnership (PPP) contracts for the design and construction of Parts B and C of the Rūdninkai…
Arco Vara AS announces a change in the structure of shareholders holding a significant shareholding. On 14 January 2026, Peeda OÜ notified Arco Vara AS that it has acquired 1,215,000 shares of Arco Vara AS, corresponding to 7.0% of the…
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