45 Million Euro Invested in Residential Complex near Albena Resort
Eurosilex will invest 45 mln euro in luxe residential vacation site in Aksakovo, near Albena resort, Varna. The complex name will be the Golden Valley. The 8.5 ha complex will consist of 2 gated residential communities and a golf school. Construction is due to kick off in mid-June. The 3.6 ha Golden Valley community will feature 22 detached houses and 4 multi-unit buildings with 81 apartments. A 1.1 ha training golf course will be attached to the 15 mln euro Golden Valley property. Both properties are due for completion by September 2008. Crystal Spa Residence, the second residential component of the complex, will place on the market 370 apartments upon completion in late 2008. Over 20 mln euro will be invested in the development of the 3.9 ha property. A wastewater treatment plant will also be built to service the residential complex. Over 50% of the apartment stock has been sold off-plan to buyers from Britain, Ireland, the U.S., Russia and Scandinavia.
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