Winslow Developments to begin construction of residential complex in Sofia
28 December 2007
Property developer Winslow Developments said it start 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 which itself 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.
Winslow Gardens, comprising 6 buildings with a total of 450 apartments measuring in size between 50 and 150sqm, should be completed in three years at a cost of around 200 million Lev said the developer.
The residential complex will offer spa centre, gym, swimming pool, restaurant, medical offices, day care centre and dry cleaner's.
Winslow owns seven holiday homes complexes in local ski resort Bansko. Four of them have been completed, said the investor.
The property developer estimates its investment total at close to 900 million Lev. The value of the company's joint projects with financial institutions is 620 million Lev.