Lewis Charles Fund Invests 45m Euro In Sofia Property Developments 10/03/2008
Lewis Charles Sofia Property Fund, an investment company focused on the Bulgarian residential property market, has a pipeline of eight residential schemes in Sofia with a combined price tag of more than 45 million euro, the company said in a statement. The fund's property portfolio has a total build area of 567 590 sq m and currently has a valuation of 83 852 536 euro. In the Bulgarian capital, the fund is developing gated communities in the Vitosha, Simeonovo and Krastova Vada boroughs. The first project was completed in 2007 while the other five are expected to be completed during 2009. One of these projects is still at the foundation stage. The build area for the six projects totals 95,382 sq m. The fund also owns a further 13 170 sq m of land in the Sofia borough of... more

Foros Sofia Retail Rents Up 24 In 2007 04/04/2008
Retail space rentals in Sofia rose by 24 per cent last year, according to the latest Foros real estate company report, released on April 3. Rent prices in the capital fluctuated between 40 and 130 euro a sq m in 2007 and rents in shopping centres – between 30 and 60 euro, according to the market survey. Average rent prices in Plovdiv varied from 30 to 80 euro a sq m and in Varna – from 20 to 90 euro. Rents in Bourgas ranged from 25 to 55 euro a sq m and in Rousse – between 8 and 30 euro. Commercial sector marked dynamic growth last year, attracting large international investors, as well as local funds. Currently, there is a shortage of retail areas on the market, because the number of completed and working projects in large cities is not big, the authors of the report said. This is... more

Israelis To Buy Land In Bulgaria For 37 Million Euro 12/03/2008
Israeli construction and investment company BSR Europe has reached an agreement for the purchase of close to 80 000 sq m of land in Bulgaria for 37 million euro, the company announced. BSR Europe has partnered for the deal with a European investment fund for real estate. The company refused to name the fund or the exact location of the land, saying these details would be announced separately, investor.bg said. On the land a complex with housing, offices and retail areas with a total floor space of 230 000 sq m would be constructed, the company said. Israeli publication Globes said BSR Europe would own 42.5 per cent of the project, which according to preliminary calculations would be worth 200 million euro. BSR Europe had additionally reached an agreement for the purchase of... more