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300M euro gated community to rise near Varna
Bulgarian arm of Israeli investment company Electra Group, Electra Bulgaria, announced it will invest 300 million euro in a residential project near the Black Sea city of Varna, weekly Stroitelstvo Gradut said.
The company said it planned to build a gated residential community called Electra Hills, propertywisebulgaria.com said. It selected a land plot for the project near the Kalimantsi village, 15km northwest of Varna. The company has completed similar projects in Israel and Ukraine.
The project covers a total built-up area of almost 400 000 sq m and will consist of single-family and two-family homes, as well as condominiums, propertywisebulgaria.com said. The total number of homes will amount to five thousand. The company also plans to build a shopping centre, kindergartens, a school, restaurants, an amusement park and even a church.
For the full story, see propertywisebulgaria.com
June 11 2008, source: propertywisebulgaria.com
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