Simeonovo River Park, whose construction began earlier this year, is due for completion in three years’ time. The project will spread over 248 000 sq m and will have 207 houses. Half the space is intended for parks and greenery comprising pedestrian and bike alleys, tennis and basketball courts.

Sofia's future Simeonovo River Park residential development will cost about 100 million euro to build, Ivo Koloushev, director of Bulgarian developer Litos, told SeeNews newswire.

The company controls a 50 per cent stake in the project and the remainder is in the hands of an unnamed foreign investor.

Simeonovo River Park, whose construction began earlier this year, is due for completion in three years’ time. The project will spread over 248 000 sq m and will have 207 houses. Another 97 000 sq m will be occupied by maintenance space. Half the space is intended for parks and greenery comprising pedestrian and bike alleys, tennis and basketball courts.

It will also contain a supermarket and restaurants.

Litos is currently developing two similar complexes in Sofia. Its asset portfolio is completed by a hotel in Bansko.

Litos is in partner relations with Inter Bulgarian Properties, a real estate investment trust with headquarters in Ireland.