Erste Bank Group's real estate division Sparkassen Immobilien, and Germany's ECE Projektmanagement are developing a EUR 180 mln commercial and business center in Sofia, newspaper Dvevnik reported. Erste bank is also planning to invest up to EUR 500 mln in Bulgarian retail, office and residential developments through 2010.
Erste Bank Group's real estate division Sparkassen Immobilien, and Germany's ECE Projektmanagement are developing a EUR 180 mln commercial and business center in Sofia, newspaper Dvevnik reported. Erste bank is also planning to invest up to EUR 500 mln in Bulgarian retail, office and residential developments through 2010.
Sparkassen Immobilien's Ernst Vejdovszky said that the Serdika complex is due to open in late 2009. It comprises about 50,000 m2 of retail and 35,000 m2 of office floor area. Erste Bank's Immorent Bulgaria unit will also build a 6,200 m2 office scheme and a hotel in the center of Sofia.