Sun, Nov 22 2009
On March 15 the construction of a new residential complex will be launched in Bulgaria's capital of Sofia.
Residential Park will be built on 235 000 sq m and upon completion will feature more than 900 residential units, Bulgarian news agency BTA reported.
Sofia mayor Boiko Borissov will attend the March 15 ceremony together with Bavarian minister of economics, transportation and technology Erwin Huber. German Lindner Holding is investor in the project.
The complex will be of closed type and will be located in the southern part of Sofia, in proximity to Vitosha Mountain.
Residential Park is part of the Sofia Park project.
Houses part of Residential Park can accommodate 2000 to 3000 residents. The complex will also have parks, gardens and sports facilities. Other planned facilities include a service centre featuring conference hall, kindergarten, swimming pools, retail area, kindergarten, pharmacy and a supermarket.
The Black Sea town of Pomorie has approved a proposal for the construction of a spacious and modern marina, with a capacity of over 600 yachts and small passenger ships.
Over the course of a year, from one of the leaders in Europe in new construction, Bulgaria became one of the countries currently quagmired at the bottom of the table and was now amongst the three worst hit countries, along with Romania and Slovenia.
The park is posed to act as an economic stimulant in the region, creating a modern infrastructural base for companies. It is set for completion by Q3 of 2010.
Both retailers target at least 50 outlets in Bulgaria by the end of 2010.
When will Bulgaria’s real estate and construction sector recover?