The property on Slatinska Str in Sofia will be completed by September 2008. The project will cost 2.25 mln euros according to estimations made at the end of 2007.
The building is erected on an 840 sq m a plot owned by the company and will comprise apartments, shops and a parking with a total built-up area of 2.450 sq m. Many of the premises are already sold, the ground floor has been bought by a Greek bank.
The renovation of a five-storey office building in Plovdiv is expected to be completed by the end of the year. The property, which is owned by Euroterra Bulgaria has a total area of 2.005 sq m and is situated in downtown Plovdiv on Patriarch Evtimiy Str.
The property is valued at 10 mln euros, based on 2007 estimations.
The luxury residential complex Luxor Glava will be completed by summer 2009 in the southern part of Sofia.
The complex is situated next to the Diplomatic Club in Boyana and comprises three separate luxury buildings covering a total area of 4.140 sq m. Construction activity started at the end of April 2008.
The company held a general meeting of shareholders yesterday (June 25), which adopted a decision to raise capital from 7 million (3.57 mln euros) to 91 million leva (46.5 mln euros) via issue of 84 mln shares, which will be allocated among shareholders for free.
Shareholders registered as such no later than 14 days after the GM date are entitled to new shares.