Estonian realty group Arco Vara has set up a brokerage unit in Bulgaria. Arco Real Estate Bulgaria will begin operation in September in the capital Sofia, said company manager for Bulgaria Rauni Tillisoo. The company later plans to open offices in other Bulgarian cities. Arco Real Estate Bulgaria will offer agency, consultancy and property appraisal services.
In the rookie year of its operation, the company intends to focus on completed properties in Sofia which will be marketed to Estonian, Latvian, Lithuanian and Finnish buyers. Bulgaria is Arco Vara's 5th footprint abroad after the Ukraine and the 3 Baltic republics. Over the longer term, Arco Vara plans to engage in property construction in Bulgaria.