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Over 4 million BGN to be invested in the infrastructure of Sofia’s “Monastery Meadows” residential district /2008-08-06/

Sofia, August 06, 2008. Over two million euro will be invested by Winslow Developments in the infrastructure of the east part of capital city’s “Monastery Meadows” residential district. 640 000 leva will be invested in the special planning of the Winslow Gardens project: landscaping, constructing alleyways between the buildings, planting anti-allergic species, embedding water mirrors, etc.. 852 000 leva is the amount envisaged for the provision of the electric power supply for the district, including the external connectivity and two power substations. The investment for the construction of the sewerage system of Winslow Gardens will amount to 940 000 leva. Just the water supply amounts to 656 000 leva, and the gas supply – an additional 440 000 leva. The investor undertakes to construct over 1500 meters of road estimated at 861 000 leva (1000 meters around the complex and the approach from the “Bulgaria” boulevard, and, in addition, 500 meters connecting the complex with the “Todor Kableshkov” street).

„Right now we are developing a project ensuring the construction of the street infrastructure, the water supply and sewerage system and the electric power supply system. In the future we intend to consolidate our efforts with those of the other investors in the “Monastery Meadows” district, and collaborate for the construction of a truly outstanding infrastructure”, Laska Nenova, Business and Marketing Director of Winslow Gardens, revealed.

According to Colliers, the average offer price (per square meter) of properties in “Monastery Meadows” has marked a 25% growth within the last 6 months. The newly constructed properties that were offered, until recently, for 1000 euro per square meter, are now being offered for 1200 euro per square meter. It is not unusual to come across offers for 2300 euro per square meter for the pre-construction (“green”) purchase of a two-roomed apartment at “Monastery Meadows”.

The Winslow Gardens project received a First-Class Investment Certificate by the Ministry of Economy and Energy. The two investors in the Winslow Gardens project are Winslow Developments and RREEF, a part of Deutsche Bank AG. This is a three-stage project. The first stage involves the construction of a gated residential complex. The second one involves the construction of two more closed-type residential complexes, and the third stage – a mixed-type complex consisting of residential and office buildings. The total value of the investment amounts to 200 million leva. Approximately 9 million BGN will be contributed to the national budget as taxes and fees. Over 60% of the properties from the first stage of the Winslow Gardens project have already been sold at pre-construction value (“green sale”).

The first of the residential complexes within the Winslow Gardens project will be constructed in the eastern part of Sofia’s “Monastery Meadows” district, on a 22 000 sq. m. area, and will consist of 6 low-rise buildings with 444 apartments, 12 000 sq. m. of park area, a pharmacy, a restaurant, shops, a hairdresser’s, a dry-cleaning shop, a bakery, a kids’ study and entertainment hall, a 2000 plus sq. m. SPA Center (a fitness gym, a 25-meter swimming pool), a basketball and mini-football court. This is the only ecologically designed complex in the country and the first one that will have an individual central heating system. 24-hour security, controlled access, two levels of underground parking lots, generous spacing between the buildings and green alleyways are some of the additional advantages of the complex.

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