Romanian stock indices start week in the green, TeraPlast shines
IMS Gear to invest 6 mln euro in new plant in Croatia's Osijek - mayor
Most Bulgarian stock indices rise, AmonRa Energy shines
Albania's gross foreign debt rises 2.4% y/y in Q3
Bulgaria's Puldin Holding acquires TIZ Invest
Nov 15, 2007 18:35 EEST
SOFIA (Bulgaria), November 15 (SeeNews) – Tivon Properties, a subsidiary of Israeli construction company Stern, will invest up to 20 million euro ($29 million) in the construction of a complex featuring apartments and offices in the Bulgarian capital Sofia, an industry official said on Thursday.
"The construction of the City Park Residence complex started two weeks ago and is to be completed in two years," Iordan Todorov, Project Manager for Tivon Properties, told SeeNews He declined to elaborate on the cost of the project
However, a source close to the project said that the investment is estimated at 15 to 20 million euro.
The City Park Residence is the first project of Tivon Properties in Bulgaria. The mixed-use complex will have a built-up area of over 4,000 square metres. The apartments and offices in City Park Residence are intended only for sale.
Stern Constructions (www.stern.co.il) was set up in 1979 in Israel and is active in the construction of public, industrial and commercial buildings as well as in real estate development.
($ = 0.6835 euro)
You have run out of free articles this month.
Sign up in for
and get ten (10) free articles per month or sign up for
and get unlimited access.
Browse our free newsletter options