BenchMark to Invest EUR 8 Million in Borovets

FOCUS News Agency, 2006-11-23

     BenchMark Fund Estates special purpose vehicle (SPV) plans to invest EUR 8 million in the setting up of a suite hotel in the Borovets mountain resort, the company said, as cited by Pari Daily.
     The new hotel, dubbed Exclusive Ski&Spa Resort, will be built on a 9,000 sq. m plot and will cover a built-up area of 19,500 sq. m. The complex will feature four major sections, each with six residential storeys, a lobby section with commercial areas, an underground parking lot and public areas. Other features include spa centre, conference hall, shops restaurants, restaurants and a bar. The project is scheduled for completion by the end of 2007.
     Unlike BenchMark Fund Estates' previous two projects, which are aimed towards long-term return, Exclusive Ski&Spa Resort is expected to provide high return in 2007. The SPV expects an 80% return from the sale of the apartments in the complex.

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