Sun, Nov 22 2009
Spanish developer Martinsa Fadesa started the construction of its first project in Bulgaria, Stroitelstvo Gradut (Construction and the City) weekly reported. The first-sod ceremony of the Modera Residence residential complex took place on March 18.
The complex is located in Sofia's Vitosha neighbourhood, at about 200 m from the ring road and Simeonovsko Chaussee Blvd, and will have a gross actual area of about 54 000 sq m. Architectural project was prepared by Stroyconsult 999 Ltd, with leading designer Yuri Angelov; general contractors are Livel and Hydrostroy-P; the consultant is Nevon Consult Ltd.
The neighbourhood has been one of the most actively constructed areas in recent years. Another two new gated communities, Preslav and Buena Vista, are located in the vicinity.
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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?