Bulgarian property attracts Israeli developer

Israeli real estate developer Africa-Israel is about to invest in Bulgarian property development in Sofia, said Valeri Leviev from consulting company Elta who will manage the project.
The Bulgarian development will be a gated residential community called Vitosha Gardens complex located in the Krastova Vada area near Manastirski Livadi.  Work on the 18,000 sq m 140-apartment Vitosha Gardens will begin in December and should be completed in 12 months
Africa-Israel Europe is part of Africa-Israel Investments, an international holding company with operations in America, Russia, China and Israel. Africa Israel Investments Ltd. is an international holding and investment company that is active in an extensive range of investments in Israel and abroad. It is one of the largest investment companies in Israel. One of the company’s main focuses of investment in Europe is Prague, where several projects are already in operation including office buildings, and commercial and residential space.
Colliers International found the majority of demand for Bulgarian property investors originated from the UK and Ireland. A market overview by the company found that the interest in Bulgarian property from these investors has supported significant developments in recent years, both in mountain and coastal resort areas.
Nicholas Marr CEO of Homesgofast.com the overseas property web site ‘ Demand for Bulgarian property remains high from overseas property investors. This is despite concern of over supply and the current legal system which can act a brake to investors who are keen to get involved in the Bulgarian property market.
National Real Property Association chairperson Orlin Vladikov said during an international real estate forum in the country’s capital, Sofia. That property to a value of eight billion Euros was sold in Bulgaria in 2005.
The Bulgarian property market is set to continue to attract investors world wide

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