Tue, Feb 09 2010

AFRICA ISRAEL PURCHASES 76.5 MILLION EURO REAL ESTATE IN BULGARIA'S VARNA

Wed, Aug 01 2007 18:40 CET 276 Views

Israeli conglomerate Africa Israel Investments has bought land with office buildings in Bulgaria's Black Sea coastal city of Varna, a company official said.

For 76.5 million euro, Africa Israel bought the existing buildings and the right to construct other buildings in the future.

Africa Israel Investments' business development manager Akiva Azulay told SeeNews that "It is a big plot and part of it is built and the other part we are going to develop."

The company is controlled by billionaire Lev Leviev and operates in the real estate, energy, hotel services and infrastructure sectors. The company also has a commercial project and two residential developments in Sofia.

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