Arco Vara appoints general manager for Bulgaria

Yordanov will oversee the company's Bulgarian subsidiaries Arco Vara Bulgaria, Botanica Lozen, Arco Invest, Arco Manastirski, Arco Riverside and Iztok Parkside, Arco Vara said in a press release.

In his new role, Yordanov will also manage the ongoing development of the Botanica Lozen residential project, identify new developments, strengthen the company's team and enhance overall profitability, the company said.

Yordanov, who has a proven track record in real estate advisory, investment and development, assumes the position under a three-year contract.

In July, Arco Vara said it expects to begin next year the construction of 24 family houses at its ongoing Botanica Lozen residential project near the Bulgarian capital Sofia.