Sofia's future Simeonovo River Park residential development will cost about 100 million euro to construct, Ivo Koloushev, director of Bulgarian developer Litos, said SeeNews newswire.
The firm controls a 50 % stake in the project and the remainder is in the hands of an unnamed foreign investor.
Simeonovo River Park, whose building began earlier this year, is due for completion in three years’ time. The property will spread over 248 000 sq m and will have 207 houses. Another 97 000 sq m will be occupied by maintenance space. Half the space is intended for parks and greenery consisting pedestrian and bike alleys, tennis and basketball courts.
It will also contain a supermarket and restaurants.
Litos is usually developing two similar complexes in Sofia. Its asset portfolio is completed by a hotel in Bansko.
Litos is in partner relations with Inter Bulgarian Properties, a property investment trust with headquarters in Ireland.