Arco Invest, a unit of Estonian real estate group Arco Vara, started the construction of a 6.0 mln euro gated complex in Sofia.

The complex, set to be the company’s heftiest investment so far, will pop up in the upscale Manastirski Livadi district. It will comprise three residential buildings with a combined floor space of 35,000 sq m hosting 300 flats and 25 retail outlets.

Arco Invest’s first Bulgarian project, Boulevard Residence, is under construction on the capital’s downtown Madrid boulevard. Its more than 100 apartments sold for a bottom 1,600 euro/sq m last year.

In related news, the Black Sea Property Fund unveiled plans to spend some 15 mln euro in a new gated complex in Sofia. The Evergreen project will have 27 single-family houses and six small blocks of flats.

house for sale Sofia 64 m2 € 32350

house for sale Sofia 80 m2 € 14500

apartment for sale Sofia 35 m2 € 41572

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