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Equest To Invest 40 M Euro In Ancient Town Construction In Bulgarias Sozopol

Immofinance, part of the UK investment fund Equest, has launched the construction of a resort village two km to the south of the coastal town of Sozopol.

The company will invest 40 million euro in the project, called Sozopolis, 24 Chassa daily reported.

Sozopolis will span nearly 90 000 sq m, but the gross build up area will be only 34 000 sq m. Low buildings, green areas and a 1500 sq m spa centre with mineral water pools will feature in the complex.

The village would be replica of the old Sozopol, with 80 houses, 52 apartments, cobblestone roads, bazaar with cafй, shops and two restaurants, 24 Chassa said. A church and wind mill will also be constructed.

Some of the houses will have swimming pools and jacuzzis.

The detached houses will each be 365 sq m, with 800 sq m of garden and will cost 800 000 euro. All houses will have two storeys, with one to three bed-rooms and panorama view on the sea. The apartments will be of 175 sq m.

The average price of the properties in the village will be 1800 to 1900 euro per sq m.

Two 3000-year-old Thracian hills were found in the plot, which will be conserved and excavated.

The complex is to be opened in May 2009.