Property developer Winslow Development has said that it would build two more gated residential communities in Sofia, but made no investment estimate. The company is already building one residential compound in Sofia, Winslow Gardens.
The developer has already secured the relevant design permit for one of the two new projects, located in the capital's Vitosha residential borough, Georgi Konstantinov, the head of the new projects department at Winslow Development, said.
Talks are underway with the utility companies and the competition to select a building contractor will start in autumn. Construction of the 30 000 sq m property is expected to start before the end of 2008.
The other new project, in Sofia's Bankya district, will be implemented in two phases. It will have a footprint of 12.5ha.
Winslow's lead-off development, Winslow Gardens, launched in early 2007. The first of the three phases should be completed by 2010, delivering 70 000 sq m in build area.
The market impact of the slew of gated compounds under construction in Sofia should start to become evident over the next couple of years as projects reach completion. Sofia Gardens will be among the first ones to be completed. Residential Park and Vitosha Tulip are at an advanced stage. Dozens of other residential communities are at various stage of construction or design.
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