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Winslow Developments Signs Deal to Manage EUR 113 M Project in Bulgaria

Source: Sofia News Agency (www.novinite.com)
Published Date: 03 Apr 2007

Lewis Charles Sofia Property Fund has signed a contract with Winslow Developments to manage a holiday village project near Banya, close to the Bulgarian ski resort of Bansko.

Lewis Charles Sofia Property Fund, an investment fund listed on the alternative investment market segment of the London Stock Exchange, estimated that the deal could generate EUR 113 M in revenue, the two companies said in a joint statement.

The project, which is still yet to receive a planning permission, involves the regulation of the 121,420 square metres area within the next year, the planning and construction of a holiday village, as well as the marketing and sales of the completed buildings.

The village will provide all the necessary facilities to guarantee the maximum comfort of its residents such as tennis courts, swimming pools, spa centre, restaurant and bars, the investors said.

The hill location offers picturesque views of the Rila, Pirin and Rodopi Mountains.

Winslow Developments is a Bulgarian company developing active business on the real estates market since 2001, which has already managed to develop series of successful projects in the ski resort Bansko.