The Mayor of the Bulgarian city of Varna, Mr. Kiril Yordanov and the investors of Logistics Park Varna broke ground on the construction of the first project in the region designed to meet tenants’ requirements for storage facilities, effective cargo handling, and working environment.

"Logistics Park Varna is an ambitious project and its success will be part of the city’s successful business development in the first year of our EU membership," emphasized Philip Pashov, Managing Partner of Bulgarian Property Developments.

Located in the Western Industrial Zone in Varna on the Black Sea coast, Logistics Park Varna has a total build-up area of more than 80,000 m², including high-quality warehouse space, administrative offices, and retail areas. The project enjoys easy access to the city ring road and Vladislav Varnenchik Blvd., part of the road corridor connecting the seaside with Sofia and major European Transport Corridors. Varna International airport as well as the sea ports and the railroad station are within 10 minutes drive from Logistics Park Varna.

‘Apart from its modern concept, what makes this project exceptionally interesting is the unique combination of sea, land and air transport accessibility the city of Varna provides, said Atanas Garov, Managing Director of Colliers International.

Logistics Park Varna provides ready-to-use warehousing space for rent. All buildings are professionally planned for maximum flexibility and facilitated expansion. In addition to standard warehouse space, Logistics Park Varna will provide specialized premises, including temperature-controlled storage and optional cross-docking facilities.

The project will be delivered in three stages, with the first phase, comprising 24,000 m2 of total build-up area, scheduled for completion by the end of 2007.

The investors of the project are the leading development and investment company FairPlay International and Bulgarian Property Developments (listed on the London Stock Exchange). Colliers International, the market leader in providing comprehensive real estate services, is the exclusive real estate consultant for Logistics Park Varna.

"The project will support the dynamic economic development of the region, providing contemporary logistics environment for the business," said Mario Zahariev, Managing Director of FairPlay International.