Local company Mount View Sofia has broken ground for the construction of a 20 mln euro upscale residential complex in Sofia's Vitosha borough.
The building contract has gone to local construction company Planex Holding. It should finish the development in August 2008.
Mount View will feature 128 apartments ranging from 90 to 250 sq m in size. The complex is designed with a built-up area of 15,000 sq m. The list of amenities includes gym, sauna, otdoor swimming poll and a 150-car underground parking facility.
London Sofia property, which owns 65% of Mount View Sofia, said 34 partments have been sold off-plan and another 12 have been reserved.
According to the developer, apartment buyers are ensured a 20% return on their investment over the next 5 years.
In partnership with Salamanca Capital Investments, a London-based real estate management company based, London Sofia Property is also developing the Bulgaria Mall on Bulgaria boulevard in Sofia. The 100 mln euro development should be ready by the end of 2009. The 80,000 sq m complex will place on the market 25,000 sq m of retail space and 20,000 sq m of office premises.
London Sofia Property has also bought land plots for 3 projects in ski resort Bansko: one hotel development and 2 apartment complexes.