June 26 (SeeNews) - Lindner Immobilien Management, a Bulgarian subsidiary of Germany's Lindner Vermoegensverwaltungs, said on Wednesday the construction of its 300 million levs ($174 million/153 million euro) residential compound near Sofia has started.
The construction of the gated compound officially began on Tuesday, as some 90% of the residential units of the project's first phase have been pre-sold, the project company, Lindner Immobilien Management, said in a statement.
The residential compound is located near the village of Lozen, some 12 minutes away from Sofia. The project's first phase envisages the construction of 136 residential units, including row houses, one-family houses and two-family houses.
Lindner's other projects in the country include Business Park Sofia and Residential Park Sofia. Business Park Sofia, the first project of the company in Bulgaria, was completed in 2007, while works on Residential Park Sofia's Phase 3B are still ongoing until the beginning of 2021.
The group also has a project in Ruse, on the Danube, in the pipeline, Helmut Lang, CEO of Lindner Group, was quoted as saying.
The group has invested more than half a billion levs in Bulgaria so far, which makes it one the biggest investors in the country, he added.
Sofia-based Lindner Immobilien Management was founded in 2005 and currently has 20 employees. The company is responsible for the management of the large-scale investment projects of Lindner Group in Bulgaria as well as of other investors.
Lindner Bulgaria, founded in 1998, currently has 51-100 employees. It markets the Lindner Group’s services to the markets in Bulgaria and Albania and offers a complete engineering service in the construction process from design to complete construction.
(1 euro =1.95583 levs)