31.05.2007

Winslow Developments and Deutsche Bank's investment arm, RREEF, plan to implement jointly a total of eight projects in Bulgaria, Ivan Mekushin, manager of the Bulgarian company, said. Investments will be mainly in residential properties and will be made by a joint-venture company, PARI wrote. RREEF will hold an 88-percent stake in the company, while Winslow will own the remaining 12%.


The first four projects include the construction of the different stages of the Winslow Gardens gated residential complex in Sofia's Manastirski Livadi district. Construction works on the first stage of the project are scheduled to start in September. Winslow Gardens will boast a total of 450 apartments in six residential buildings.


The remaining projects envisage the setting up of two residential complexes in each Sofia and Bansko. Winslow and RREEF also plan to invest in office buildings, logistic bases and commercial complexes in Bulgaria in the future.