Greek industrial group FIA Corporation plans to carry out two projects on the Bulgarian real estate market, both worth between 22 and 27 million euro.

Greek newspaper Naftemporiki quoted FIA executive director Petros Piloridis as saying that FIA’s daughter company FIA Bulgaria would construct an office building in Sofia worth seven million euro and a mixed residential and retail complex in Hajidimovo municipality, near Blagoevgrad.

The complex would cost 15 to 20 million euro and would be built by FIA Bulgaria and United Constructions & Development LTD.

In October 2007, FIA Bulgaria decided to raise its capital from 700 000 to 1.225 million leva. In spring 2007 the company announced the construction of an office building in Sofia’s Mladost-1 residential district, investor.bg said.

Initially the company planned to invest 11.75 million euro in Bulgaria.

FIA is the only company in Northern Greece, which has a daughter company listed in Bulgarian Stock Exchange, investor.bg said.