Arco Vara AS (TLSE:ARC1T) has established a real estate investment fund in Bulgaria. On July 31, 2015, Bulgarian Commercial Registry registered Arco Real Estate Fund REIT. Arco Real Estate will apply for a management company license and authorization for listing the shares on Bulgarian Stock Exchange - Sofia from Bulgarian Financial Supervision Authority.

After receiving the authorization Arco REIT is planning to make an initial public offer in 2016.