Sparkasse Immobilien to invest up to EUR 300 million in Bulgaria
11 June 2008
Sparkasse Immobilien AG, the real estate division of Erste Bank Group, has earmarked around EUR 200-300 million for investment in Bulgaria over the next 2-3 years. Bulgarian market has untapped potential, said the company.
Sparkasse Immobilien AG has already created a joint venture with Germany's ECE Projektmanagement and leased financing company Immorent Bulgaria to build the Serdika Center shopping mall in Sofia.
Sparkasse Immobilien AG is also developing two office schemes and a residential community in Sofia.