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21.05.2007 LULIN AND SOFIA`S NORTHERN RESIDENTIAL DISTRICTS TURN INTO PROPERTY HOTSPOT

Property Wise Magazine, 18th May 2007

The residential district of Lyulin, as well as the northern parts of Bulgarias capital are turning into increasingly attractive areas for property investors.

A number of foreign companies have announced their plans to carry out real estate projects there, Sofias chief architect Petar Dikov said.

Lyulin has long been considered one of the least prestigious parts of the capital. The district has 300 000 inhabitants, a figure that provokes investor interest, investor.bg reported.

American entrepreneurs plan to build a massive retail complex worth more than 300 million euro there, Dikov said.

Sofias northern parts have always been neglected but are to be developed in the near future, Dikov said.

The southeastern part of the capital has the potential to develop further, as well. The region is located on the road from Sofia to Plovdiv and in direct proximity to the airport.

Another tendency that the capital will see soon is investment in entertainment centres and theme parks, projects that are currently missing, Dikov said.

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