What is happening to Arras Group

I am Enrico Arras, Chairman and CEO of Arras Group, a tech-driven real estate development company specializing in the creation of luxury second homes with sea views, primarily in Sardinia.

In this space, created specifically on the Arras Group website, I intend to clarify and share some insights about the situation the company is facing at this particular stage of its journey and development.

A preface: in August 2023, when the company entered the capital market on the professional segment of EGM, we were confident that the stock exchange would accelerate the growth path we had just embarked on, supported by new investors and increasingly ambitious projects, thanks to a business model that is both highly effective and competitive.

A year and a half later, our ultimate goal remains unchanged; however, we have realized that the path involves more obstacles than we had anticipated. The news that Arras Group’s stock is suspended from trading is well-known, as communicated officially by Borsa Italiana on September 26, 2024. This issue, which we are working diligently to resolve quickly, arose due to difficulties the company encountered in managing the large volume of activities we had to coordinate.

This situation, I am convinced, was caused by Arras Group’s limited experience and knowledge of the capital market and its dynamics. Despite the management’s significant know-how in the Real Estate sector, gained over more than ten years, it is worth noting that the company itself is a start-up founded only in 2020. The first real estate project was completed in June 2022; since then, we have initiated twelve other real estate projects, acquired eight plots of land, and signed over one hundred contracts.

In this regard, I believe it is important to highlight that Arras Group currently operates three offices in Italy and one abroad, employing more than thirty people, including staff and collaborators. The company operates 7 days a week, with customer service available 24/7. Daily operations such as scouting for land, property development, and sales have never been interrupted, nor has our ongoing dialogue with Borsa Italiana, investors, and our advisors.

In the upcoming “episodes”, I will analyze and explain the issues that have arisen in recent months, while also highlighting our professionalism and ongoing efforts to resolve these challenges.

Thank you for your attention to Arras Group.

See you soon,

Enrico Arras