Russian consortium Mian has entered the Bulgarian commercial property sector through the purchase of a 5,000 m[sup]2[/sup] plot of land in Sofia for EUR 10 mln. The group, with assets valued at EUR 670 mln, said it will develop an office complex with a 24,000 m[sup]2[/sup] build-on area on the site. Completion is expected for 2008, Bulgarian news agency BTA said.

Russian consortium Mian has entered the Bulgarian commercial property sector through the purchase of a 5,000 m2 plot of land in Sofia for EUR 10 mln. The group, with assets valued at EUR 670 mln, said it will develop an office complex with a 24,000 m2 build-on area on the site. Completion is expected for 2008, Bulgarian news agency BTA said.

Mian's general manager Sergei Ozerov told Bulgarian daily Sofia Echo that the group is planning to continue investing in office property in Bulgaria and to enter the residential property market.