Investment company Winslow Developments has sold about 60 per cent of the apartments in its residential complex Winslow Gardens in Sofia’s Manastirski livadi borough even before starting construction on the first phase of the gated community, the company said in a statement on March 31.
Some 80 per cent of the purchases fall to Bulgarians, most of them young families with children. Unlike other real estate projects, built for investment purposes, around 80 per cent of the units were acquired to serve as first home.
As previously reported, Winslow Development recently closed the tender for choosing a chief contractor for the first stage of the project. Glavbolgarstroy won despite competition from six of Bulgaria's largest construction companies.
The first phase of Winslow Gardens residential complex, which was awarded a first-class investment certificate by Bulgarian Investment Agency, will start in April. It will be carried out in partnership with RREEF – Deutsche Bank’s property investment arm.
The investment in the gated community totals 200 million leva, with 105 million allocated to the first stage of the complex.
