Russian Property Investor enters Bulgaria's Property Market
Russian group of companies MIAN announced that it will construct an office centre in Sofia.
Sergei Ozerov, general manager of MIAN said that the group had paid 10 million euro for a plot of 5000 sq m in Sofia.
MIAN planed to construct an office complex of 24 000 sq m build-up area which should be opened in 2008, Bulgarian news agency BTA quoted Russian media as saying.
The company is in a process of selecting partners and mediators fro the project in Sofia.
Ozerov said that the high profitability of the Bulgarian commercial property sector provoked MIAN’s interest in the country.
The group planed to continue investing in office property in Bulgaria and to enter the residential property market, Ozerov said.
MIAN is a group of companies working in all sectors of the property market in the city of Moscow and in the Moscow region.
The group offers all types of construction and intermediary services, including consultation and investment in residential and commercial property. The company manages assets totaling more than $880 million.
Source: Sofia Echo