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Nov 09, 2023 12:34 EEST
November 9 (SeeNews) - Bulgarian real estate investment trust Fairplay Properties REIT [BUL:FPI] said that its FPI City Tower in the capital Sofia, currently under construction, is expected to be fully operational and ready for its first tenants by spring 2025.
The company announced the completion of the primary construction phase for the mixed-use asset in a statement on Wednesday. The value of the investment was not disclosed.
The 13-storey FPI City Tower has a lease area of 9,000 square metres. Five floors are allocated for offices, while the upper storeys are designated for residential use. The building has a solar photovoltaic system, which will cover 20% of the offices' daily energy consumption.
Fairplay Properties was listed on the Sofia bourse in 2006. Its portfolio comprises three office buildings in Sofia, St Ivan Rilski Hotel in the southwestern ski resort of Bansko, the Santa Marina resort in the Black Sea town of Sozopol, a project in Panichishte, in the Rila mountain, as well as land in Sandanski, Sapareva Banya, Sofia and Sozopol.
Shares in Fairplay Properties last traded flat at 0.895 levs on the Bulgarian Stock Exchange, resulting in a market capitalisation of 70.3 million levs ($38.4 million/35.9 million euro).
(1 euro = 1.95583 levs)
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