Closed Complexes and Satellites - A Residence Trend

A Lithuanian company starts construction of a “a city within the city” in Sofia, for the amount of 500€ million. It will build a multi-functional center comprising of residences, offices and parking lots on the site of the former factory “Balkancar – 6 September”, on area of 200 decares. The total area of the complex will be 750 thousand square meters. In the trade center, there will be a hypermarket, places for rest and places of entertainment, restaurants, cinemas, bowling and a skating-rink. The offices will be situated in a center with a 30-storey panoramic tower. The residences will be situated in separate buildings. The construction will be executed by stages. The first one will be fulfilled for the period 2007-2009. The company has received a first class investor certificate.

An Estonian company starts the construction of a town of approximately 300 one-family houses, in the Sofia village Kladnitsa, on the south mountainside of Vitosha. The infrastructure is finished and the building works will soon be started. The investment will amount to more than 70€ million Euro. The area where the town is being built is 400 decares big. The project envisages 12 types of houses with area between 180 and 330 square meters together with the garages and verandas. The town will have two public buildings of 2,5 thousand square meters each, with a nursery school, a restaurant with a bar, a supermarket, shops and offices. Besides that complex, the company has the intention to design three more similar housing projects and two techno parks.

A businessman from Silistra announced before the Municipality that he would build a housing complex there, on area of nearly 40 decares, near the Danube River. The complex will comprise of 40 houses and 330 apartments. The investment will amount to more than 15€ million. The transformation of the present “Parvi Mai” mill is also envisaged in the complex.

The construction of a town of closed type near the Russian cemetery in Veliko Tarnovo is also about to begin shortly. The entrepreneur has already bought areas of nearly 15 decares in the Katchitsa location. The new housing complex will comprise of 300 apartments, a students’ hostel, a fitness hall, restaurants and a park. Two underground garages with a total of 120 parking lots are envisaged. Behind the fence of the guarded town, there will stand the biggest church “Vazkresenie Hristovo”, which is being built in the old capital. The planned investment for the housing complex which will connect “Buzludzha” and “Zona B” complexes amounts to nearly 12€ million for 3 years.

An Israeli company starts the construction of a satellite town in Troshana location near Tarnovo during the spring. The investment for the VIP quarter amounts to 40€ million.

A British fund for real estates has the intention to invest in residences in the old capital. It soon came into possession of a lovely terrain in “The Quarter” quarter. The British have paid BGN 2,5 million for a site of 13,4 decares, on which they will build a residential complex.

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