Spanish property developer Fadesa has entered the Bulgarian market with its purchase of land in the centre of the capital Sofia, the company has announced. Fadesa will be investing EUR 23 mln in its first project in Bulgaria. The development, which is aimed at the mid-high target market, will be located in the southern central area of Sofia, on a plot of 13,916 m[sup]2[/sup]. The constructed area of the development will cover 36,800 m2, of which 24,000 m[sup]2[/sup] will be used for homes and 12,800 m[sup]2[/sup] for shops and offices.
Spanish property developer Fadesa has entered the Bulgarian market with its purchase of land in the centre of the capital Sofia, the company has announced. Fadesa will be investing EUR 23 mln in its first project in Bulgaria. The development, which is aimed at the mid-high target market, will be located in the southern central area of Sofia, on a plot of 13,916 m2. The constructed area of the development will cover 36,800 m2, of which 24,000 m2 will be used for homes and 12,800 m2 for shops and offices.
Fadesa said it had 'started its journey in a country which offers great potential for property development' and said it was already studying other projects in the country. Fadesa is one of the Spanish property developers with the greatest presence outside Spain. As well as Bulgaria, it has developments in Morocco, Portugal, France, Hungary, Poland and Mexico.
