House For Sale - ID 97

Simeonovo River Park To Cost 100m Euro 29/05/2008
Sofia's future Simeonovo River Park residential development will cost about 100 million euro to build, Ivo Koloushev, director of Bulgarian developer Litos, told SeeNews newswire. The company controls a 50 per cent stake in the project and the remainder is in the hands of an unnamed foreign investor. Simeonovo River Park, whose construction began earlier this year, is due for completion in three years’ time. The project will spread over 248 000 sq m and will have 207 houses. Another 97 000 sq m will be occupied by maintenance space. Half the space is intended for parks and greenery comprising pedestrian and bike alleys, tennis and basketball courts. It will also contain a supermarket and restaurants. Litos is currently developing two similar complexes in Sofia. Its asset... more

Fdi In Real Estate Drying Out 21/06/2008
Foreign direct investments into real estate has been losing momentum in the first quarter of 2008, the Bulgarian National Bank (BNB) said in a report covering the January-March period. Investments worth 333.4 million euro in January-March is the lowest quarterly figure reported for the past two years, the BNB report noted. Experts ascribed flagging interest to the global financial crisis and the restricted and more expensive financial resource. The first signs of the slowdown appeared late last year when a score of investors started backing out from medium and large-scale projects. According to realtors in Bulgaria, the summer season will be sluggish because of the ongoing European Championship and the forthcoming Olympics. Yet forecasts are that the market invigorates and exits the... more