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UK fund plans second logistic project in Bulgaria

Tuesday, Jan 27, 2009

Real estate investment firm Bulgarian Property Developments, which is listed on the alternative segment of the London Stock Exchange, unveiled plans to build a second logistic park in Bulgaria.

The company has been granted construction permit for the scheme planned for the Danube town of Rousse.

The project has so far cost EUR 2 million, and the total investment is seen at EUR 12.5 million, the company said in a statement.

The logistic park will rise close to a car parts factory of French auto maker Montupet and a plant of Spanish manufacturer of wall and floor tiles Keros Ceramica, which should open in the spring.

Construction works on the park will begin the April, with the first stage scheduled for completion by the year’s end.

International company King Sturge is exlcusive advisor on the project, which was designed by Fletcher Architects and Bulgarian company ProConsult.

Source: Dnevnik a.m.