Sofia, 18 September 2006, Stroitelstvo i Gradat Newspaper

The Bulgarian Construction Contractor Winslow Developments acquired nearly 16 decares in Vitosha RD in Sofia for the purposes of building flats for sale. This will be the company’s second project within the joint venture company formed with RREEF, the real estate and infrastructure investment management arm of Deutsche Asset Management, the global investment management business of Deutsche Bank. The other one refers to the construction of a residential complex on 22 decares in Manastirski Livadi RD, for which Winslow received 14 proposals submitted by the 12 teams participating in the architectural competition. The proposals will be evaluated and rated. The complex in Manastirski Livadi will comprise 330 flats, a park, walking alleys, rock-gardens, barbecue, spa and fitness centre, nursery school, mini market, pharmacy and medical consulting rooms. There will be approximately the same number of flats in the complex in Vitosha RD and Winslow has planned to invest about € 65 million. Winslow Developments is known for its projects for holiday villages known as Mountain Residence in Bansko winter resort. Winslow holds a minority interest in the joint venture company. The Company was established by the bothers Ivan and Yanik Mekoushin, who are also tradesmen. The company intends to build administrative buildings in collaboration with RREEF. Its Management Body also sees excellent potential in commercial and logistics properties.