AIM listed investment fund Lewis Charles Sofia Property Fund ( “the Fund”)(AIM: LCSS) has signed a contract with Winslow Developments to regulate and eventually deveproperty management.
lop a holiday village project near Bania, which is close to the Bulgarian ski resort of Bansko.

Winslow Developments and the Lewis Charles Sofia Property Fund, signed a 4-year contract for the implementation and management of the project. The deal which could generate approximately 113 Million Euros in revenue, subject to planning permission, involves the regulation of the 121,420 square metres area within the next year, the planning and construction of a holiday village, as well as the marketing and sales of the completed buildings. The two Companies are continuing discussions concerning the arrangements for after-sale
The Bania project, subject to the grant of planning permission, will involve the building of a first-class holiday village consisting of chalets and spacious apartments. The village will provide all the necessary facilities to guarantee the maximum comfort of its residents such as tennis courts, swimming pools, spa centre, restaurant and bars. The location which is situated on a hill is outstandingly beautiful and has unique views of the Rila, Pirin and Rhodopi Mountains.

Ivan Mekushin, Managing Director of Winslow Developments commented today “Winslow’s partnership with the Lewis Charles Fund re-confirms our position in managing investment projects. After completing similar projects in Bansko, we have established a solid base to our business in the region. The contract with the British investment fund is a highly appreciated recognition for Winslow Developments potential and skills”

Stav Loizou, Managing Director of Lewis Charles Securities, commented, “We are very pleased to announce the appointment of Winslow Developments to supervise and implement such an important investment as the Bania project. The Fund is now effectively fully invested and our focus is on optimising the potential of our acquisitions by entrusting the management and development of the sites to competent and professional partners. We believe that the quality of Winslow’s management and product is unrivalled in Bulgaria and we look forward to working with them.

Winslow Developments
Winslow Developments is a Bulgarian company, active in the real estate market since 2001. It has completed a range of successful projects in the country’s ski resort Bansko.

In July 2006 Winslow Developments established a joint venture to develop a project and build over 1000 flats in two residential complexes in Sofia with RREEF, the real estate investment arm of Deutsche Bank. Some 12% of the joint venture is owned by the company while the rest, 88%, belongs to RREEF. The planned investment exceeds 100 Million Euros.
http://winslow.bg

The Lewis Charles Sofia Property Fund
The Lewis Charles Sofia Property Fund (ticker: LCSS) is listed on AIM, the junior market of The London Stock Exchange. The Fund has invested in a wide range of land purchase and residential property development projects across Bulgaria since it listed in late 2005. The Fund focuses on building partnerships with companies that have proven professional records in residential property development.
http://sofiapropertyfund.com