Property developer Winslow Developments said it will build a residential community in Sofia's Manastirski Livadi district just off the ring road.

The company will break ground for the 5.5 ha Winslow Gardens development in September. It will comprise 6 buildings with a total of 450 apartments measuring in size between 50 and 150 sq m. The home units will sell from 950 euro/sq m.
Winslow Gardens will also feature spa center, gym, swimming pool, restaurant, shops and day-care center. Winslow Developments will manage the property after completion against a fee of 7 euro/sq m.

The project is developed jointly with RREEF, the real estate investment arm of Deutsche Asset Management, the global investment management business of Deutsche Bank. The first of the three stages of the Winslow Gardens project will cost 20 mln euro with Raiffeisenbank providing 80% of the financing, said Winslow Developments manager Ivan Mekushin.
RREEF and Winslow, which formed a joint venture in 2006, have another joint project in Sofia, a residential scheme in the Vitosha borough.

Total investment in the two properties is seen at 65 mln euro.

Winslow Developments has completed 5 vacation home properties in local ski resort Bansko and one in Sofia residential district Dragalevtsi.

A further two Bansko properties will be delivered within 12 months.

In early 2007, AIM-listed property developer Lewis Charles Sofia Property Fund Limited said it has signed a contract with Winslow Developments to regulate and eventually develop a holiday village project near Bania, close to Bansko.(Dnevnik)

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