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90 million BGN will be invested at Winslow Gardens project untill the spring of 2011 /2010-05-12/

Construction works at the Winslow Gardens residential complex, located in the Manastirski Livadi district, continue, after being commenced at the beginning of March this year. Raiffeisenbank has granted a loan of over 42 Mill. BGN. A further 48 Mill. BGN has been funded by the investors of the project. The total investment for the first phase of the complex therefore amounts to 90 000 000 BGN.

„We are very satisfied that the construction works at Winslow Gardens are now back on track, thanks to the efforts of all participants. During the international economic and financial crisis, it was not easy to unite the interests of all the parties involved and the compromises for the successful realization of this project, so that the apartments will be handed over to our first clients until the end of summer 2011. With the renewal of the construction works in March this year, clients’ interest in the project regained momentum. That supports the news of the current the market revival”, tells Yanik Mekushin, Executive Director of Winslow Group.

Because of the crisis, only in Sofia construction project valued at over one billion and two hundred thousand are frozen, according to data of the Bulgarian Construction Chamber. These projects have building permit and funds, but investors rethink their decisions. Many developers around the world stop work and wait for better times. The good thing with Winslow Gardens is that it is funded and the construction works continue.

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