Bulgarian Property Developments Plc has purchased two land plots in the town of Rousse on the Danube and Sandanski, southeastern Bulgaria, the investment fund announced in a filing with the London Stock Exchange.
The 53 676 sq. m. lot in Rousse is worth 1.396 million euros and is to host a logistics hub with 18 000 sq m of storage and office space. The fund has assigned 9 million euros for investments.
In Sandanski, Bulgarian Property Developments bought out 50 % of the FairPlay Commercial retail centre project in a 560 000 deal. FairPlay will remain in the project with 50 per cent.
At present, the land plot located on a main road connecting Sofia and the Greek border is anticipating re-purposing from agricultural to multi-purpose use.
Plans are that construction set out by the end of next year.
This is the second partnership between Bulgarian Property Developments Plc and FairPlay Commercial. First, they joined efforts in building a logistics park in Varna, Bulgaria's northern coastline.