Sun, Nov 22 2009

UK FUND INVESTS IN HOLIDAY VILLAGE NEAR BULGARIA'S BANSKO

Tue, Apr 03 2007 10:09 CET 518 Views

UK investment fund Lewis Charles Sofia Property Fund will provide finance for the construction of a holiday village near the village of Banya, not far from the Bulgarian ski resort of Bansko.

The fund already signed a contract with Bulgarian Winslow Developments to regulate and develop the project, Bulgarian National Radio (BNR) reported.

The project in Banya envisages holiday village including tennis courts, pools, spa centres, a restaurant and bars.

The deal will generate earnings of nearly 113 million euro, Winslow Developments said. The company operates on the real estate market and so far implemented several projects in Bansko.

In July 2006 Winslow developments set up a joint venture with the investment fund of Deutsche Bank, PREEF aiming to develop a project for the construction of 1000 apartments in two residential districts in the capital of Sofia.

The joint venture is 12 per company-owned and 88 per cent PREEF-owned. The planned investment exceeds 100 million euro.

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