Lewis Charles Sofia Property Fund, an investment company focused on investment in the Bulgarian residential property market, has a pipeline of eight residential schemes in Sofia with a combined price tag of over 45 mln euro, it emerged from a company announcement.
The fund property portfolio has a total build area of 567,590 sq m and currently has a valuation of 83,852,536 euro.
In the Bulgarian capital, the fund is developing gated communities in the Vitosha, Simeonovo and Krastova Vada boroughs. The first project was completed in 2007 while the other five are expected to be completed during 2009. One of these projects is still at foundation level.
The build area for the six projects totals 95,382 sq m. The fund also owns a further 13,170 sq m of land in Sofia boroughs Dragalevtsi and 100,713 sq m in Kambanite.
Lewis Charles has projects in progress in a number of other locations across the country.
In 2006, the fund purchased a total of 121,420 sq m of agricultural land just outside the village of Banya (Razlog municipality) for 2.76 mln euro.
The Banya project is expected to involve the building of a first-class holiday village consisting of chalets and upscale apartments.
The portfolio spread further includes projects in Govedartsi, Bansko, Plovdiv, Veliko Tarnovo and Dolna Banya.