Sat, Feb 11 2012

PROPERTY FOCUS: Mount View breaks ground in Bulgaria

Mon, Feb 05 2007 09:00 CET

byDesislava Leshtarska, PropertyWise Bulgaria

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On Wednesday January 31, London Sofia Property - the developers of the forthcoming Bulgaria Mall - broke ground on their latest project, called Mount View. The complex is a luxurious, high-end residential development in the Vitosha foothills, near the road Simeonovsko Chausse.

At a news conference Hugh Fraser, London Sofia Property's executive director, gave details about the 20 million euro development.

"We are an international company and so are our standards," Fraser said. "We are not rushing for the construction to finish as soon as possible with no regards to the quality of realisation. Our mission is to create a next-generation development."

Mount View Sofia is constructed over six floors and consists of 128 one-, two- and three-bedroom apartments. The built-up area is 15 000 sq m. It will combine up-to-date construction technologies with a multitude of services and equipment.

The complex will be built by the award-winning company Planex Holding. A 100 sq m one-bedroom apartment with a garage is set at 125 000 euro. Mount View is to be completed by the autumn of 2008.

London Sofia Property has made a decisive entry into the Bulgarian real estate market with several projects encompassing retail, commercial and residential developments.

To date, the company has completed six deals - three in Sofia, including Mount View and Bulgaria Mall, and three residential and commercial developments in Bansko, which are in the project phase. The company has representation in Croatia and in Macedonia and plans to invest in commercial properties in these countries.

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"We are hoping that with the beginning of this big project, this will send a positive signal to other investors that the business climate in Bulgaria is improving, especially for investors who are in it for the long term, as is the case with BSR Sofia."

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