Investment firm Winslow Developments has secured a loan of 72 million leva from Raiffeisenbank Bulgaria to fund the construction of the first stage of its Winslow Gardens residential project in Sofia's Manastirski Livadi borough, investor.bg reported.

The loan has a maturity of 42 months, investor.bg quoted the bank as saying.

The developer plans to start work on the first stage of the gated community, which will cost 105 million leva and is scheduled for completion in mid-2010, later this month. Despite that fact, last week the company said it has sold 60 per cent of the apartments in Winslow Gardens off-plan.

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