Winslow Gardens Awarded A First Class Investor Certificate

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The Minister of Economy and Energy Petar Dimitrov will award a First Class Investor Certificate on behalf of the Bulgarian Investment Agency to Ivan Mekushin, executive director of Limex City.
The ceremony will take place Friday, October 5, at 10.00h at the Ministry Of Energetics ( #8 Triadica Str). Limez City receives the prestigious award for the development of its project in eastern Manastirski Livadi area in Sofia - Winslow Gardens.

Winslow Developments outlined the project plan at the end of May. Winslow Gardens will be a modern polyfunctional complex comprising five zones and situated at the foot of Vitosha Mountain near Sofia.

The complex will comprise residential buildings, offices, commercial areas, a SPA center, restaurants, service areas and others. It will be built on a total area of 42 decares, the total built-up area will be 103,000 sqm, and it will take 20,000 sqm underground space.

The total value of the investment stands at 200 mln euros (102.255 mln euros). So far the project has consumed 24 mln leva, and the remaining 180 mln leva will be invested in the following 3 years. The figure includes 80 mln leva for residential construction and 100 mln leva for non-residential costs.

The project is to be completed within 3 years, and the first zone is scheduled to enter exploitation by the end of 2009.

A total of 17.7 mln leva (9.049 mln euros) will be paid as taxes.

When completed, the complex will employ 200 people. An additional 230 job places will be available in its commercial zones, and 2,500 in the office areas. This means that in the long term perspective Winslow Gardens will create some 3,000 jobs. The number of people employed in its construction will reach 300 at peak periods.

Limex City is a subsidiary to Prima Investments, a joint venture between Winslow Developments (controlling 12%) and RREEF, a unit of Deutsche Bank (controlling 88%). Its main activity is the development of the Winslow Gardens project.

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