City Properties REIT To Build a Five-Star Hotel

City Properties REIT To Build a Five-Star Hotel

City Properties REIT is starting the preliminary stages of its first project in the village of Madjare near Samokov.

The project envisages the design and construction of a five-star hotel (with a total built-up area of 5,000 sq.m). The plan also includes a restaurant, conference halls, a swimming pool, a bowling alley, an ice rink, a gym and other sports and recreation facilities.

The company is also planning to acquire a plot of some 3,000 sq.m south of Sofia, where it intends to build a gated apartment complex.

Another project includes the acquisition of a regulated plot in Sofia, Mladost area, near Sofia Business Park on a total area of 1,500 sq.m at a price of 150 euros/sq.m, where City Properties will build a luxury office building with a total built-up area of 5,000 sq.m., its prospectus reveals.

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