Property developer Winslow Developments is starting work on a residential community in Sofia's Manastirski Livadi district after its local subsidiary Limex City secured the necessary building permit.
Limex City is a unit of Prima Investments. This is a joint venture between Winslow Developments and RREEF, the real estate investment arm of Deutsche Asset Management - the global investment management business of Deutsche Bank.
The 200 million leva Winslow Gardens project comprises six buildings and a total of 450 apartments occupying an area between 50 and 150 sq m. The complex should be completed within three years, according to the developer.
The residential complex will offer a spa center, gym, swimming pool, restaurant, medical offices, day care center and dry cleaners.
Earlier this month, Winslow Developments announced its plans to invest, jointly with RREEF, up to 252 million leva in a gated residential compound in Bankya, one of Sofia's prime suburban neighbourhoods. The complex will have a 15 ha footprint, accommodating 1 200 homes.
Winslow is also the sole owner of seven holiday complexes in the local ski resort Bansko. Four of them have been completed, said the investor.
The property developer estimates its investment total in the country to be around 900 million leva. The value of the company's joint projects with financial institutions is 620 million leva.
(Dnevnik)
