Sofia, 15th April 2008 – On Wednesday, 23rd April, Winslow Developments will begin the first stage of the construction of the project “Winslow Gardens ”, which will be situated in the “Manastirski livadi” - East residential district in Sofia. The first whole in the ground will be dug by one of our clients, who was one of the first to have purchased an off-plan apartment in the housing complex. Among the official guests of the event will be Mr. Pierre Cherki, Managing Director of RREEF (the department for development and management of infrastructure and real estate investment projects, owned by Deutsche Asset Management, part of Deutsche Bank) and the chief architect of Sofia – Mr. Petar Dikov.

The project “Winslow Gardens ” will be constructed in three phases. In the second phase there will be build two close type housing complexes, and in the third one – a complex of compound type including residential and office buildings.

The first phase of the project Winslow Gardens is the first ecologically designed complex in Bulgaria with its own individual gas supply. It guarantees high quality of life and extraordinary comfort. The first stage comprises of a total build area of 22,2 acres, 12 000 sq. m of which is a green area. The complex will contain 6 short storey buildings with 444 apartments of different sizes, as well as public spaces such as a SPA center, a fitness center and a pool of 2 000 sq. m area, an underground parking on two levels, a restaurant, shops, a pharmacy, a medical office, a kindergarten, a hairdresser studio and a dry cleaner’s.

“The current world trends in the design of housing complexes with controlled access are directed towards the construction of a highly comfortable and practical residential environment. That is also our goal in creating Winslow Gardens . The design of the complex is directed towards ecofriendliness and preservation of the environment, while the density of construction is less than the legally allowed, so that it can create a feeling of space and coziness. The apartments are designed to be functional and spacious. The availability of underground parking facilities in the first stage of the Winslow Gardens project allows the construction and maintenance of a 12 000 sq. m. park, in which the vegetation species have been specially selected so that they do not cause allergic reactions”, shared Mr. Ivan Mekushin, manager of “Winslow Developments”.

“The growing demand for real estate in closed type housing complexes that offer conditions for high-quality life to its residents, creates a need for projects such as Winslow Gardens – entirely compatible with the needs for security and comfort of the modern European citizen”, Mr. Pierre Cherki expressed his attitude regarding the project.

After a close study of the candidates, who participated in the competition for selection of a chief contractor for the first stage of the project Winslow Gardens , the company Glavbolgarstoy was chosen.

At the beginning of April, 2008, the Winslow Developments investment company officially announced its financial partnership with Raiffaisen Bank (Bulgaria) EAD. The bank has granted a loan of 72 million BGN for the building of the first stage of the project, whose construction should be completed towards the middle of 2010.

Due to its strategic significance and the size of the investment (200 million BGN), Winslow Gardens is one of the few projects in Bulgaria that bears a first class investment certificate.