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Bulgaria's Sofia Starts 'Unfreezing' Its Construction

1 min read Real Estate Source: Novinite

From our news archive: this article was published in April 2011. Figures and rules may have changed since.

Vast construction projects in the Bulgarian capital Sofia, such as malls, office buildings, trade centers and residential buildings have been launched again as the financial crisis is slowly going away.

Mall Bulgaria, Paradise Center, San Stefano Plaza, the Winslow Gardens Residential Complex, the Millennium Center office building are among the ambitious projects which have started unfreezing, the Dnevnik daily reports. The first Bulgarian IKEA is expected to be opened after its construction was on hold for 2 years.

The projects cited are estimated to be worth BGN 700 M in construction investments. The banks have a considerable contribution to the projects' renewal, as they have financed a good deal of them.

Entrepreneurs have given signals that other frozen projects may soon be continued, including Mega Mall and Europe Center. The investors are waiting to see how the economy will look like towards the end of 2011.

Originally published by Novinite.

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