Africa Israel Investments, an Israeli real estate developer, will finance Business Park Varna in Varna, on the Bulgarian northern coastline, Reuters news agency reported.

Africa Israel Investments, an Israeli real estate developer, will finance Business Park Varna in Varna, on the Bulgarian northern coastline, Reuters news agency reported.

Its subsidiary, AFI Europe, and Investcredit bank AG signed an agreement to this effect. AFI Europe will provide 59 million euro of the funds. The cost of the building and the three existing buildings was worth 76.5 million euro.

Business Park Varna comprises 35 000 sq m of lettable office space. Another 15 000 sq m are under construction.

The portfolio of AFI Europe includes 32 real estate projects in eight European countries.