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New Bulgaria Development Announced

Monday, Sep 08, 2008

While other companies are waiting to see what will happen in the Bulgarian property market, Spanish developer Hercesca International recently announced that it will pursue a major new development near the capital city of Sofia. The new project is to cost some ?500 million and be a gated residential development between Sofia and Pernik.
The plan for the new development includes 2,000 apartments as well as a rail station. This will allow residents to commute to Sofia and Pernik for work, school or pleasure. The initial phase of the project is expected to be completed by the end of 2012, with the entire work done by 2016.
The chief executive of the Bulgarian arm of Hercesca said she believed the Bulgarian residential property market still has potential to grow: “We have 33 years of experience on the international property market, and what makes us different from the rest is the quality of our products,” said Nikolina Nikolova. She went on to say that the most important factor for the company was securing a good infrastructure with a feeling of security for customers.
This is certainly good news for investors who are worried about the Bulgarian market, and it is very good news for those who are looking for high-quality property near the capital.

Source: Homesgofast Bulgaria