Sparkassen Immobilien will focus in projects in Sofia and big cities

The Austrian investment fund "Shparkasen imobilien" (Sparkassen Immobilien) plans to invest between 200 and 300 million euro in the construction of new buildings in Bulgaria in the next 2 to 3 years, said Friedrich Vahering, managing director of the company, which is part of a group of Erste Bank (Erste Bank).
Currently nearly one third of the portfolio of Sparkassen properties are in Central and Eastern Europe and about two-thirds - assets in Austria and Germany. The company's plans are for 2010 the total value of its assets to reach 2.5 billion euro, 50% of its portfolio will be formed by investment in Central and Eastern Europe.
"The Fund will focus in Bulgaria, Romania and Ukraine, as will mainly be directed to offices and commercial projects," said Vahering. "The potential for growth in the real estate market in the country is not exhausted and still have good opportunities," he explained.

It is to be carried out comprehensive repairs Blvd. "Brussels", which is the only direct link to the airport to the centre of Sofia. Sofia municipality announced contract for a complete engineering (design and construction) of the site by crossing with Blvd. "Tsarigradsko Shosse at Sofia airport, including mostovoto facility. The deadline for execution of the contract is 14 months.
Applicants must submit a guarantee for participation amounting to 135 thousand euro.
At this stage Sofia municipality will provide funds only for the design of the facility.
The total cost of reconstruction is around 14 million euro. The execution of the works will start after securing financing. It is Sofia municipality to apply for funding the construction of the road in operational programme Regional Development. Initially in the capital administration discussed the idea is to seek funds from the state budget.

THE bloodbath in the Sydney property market means heartbreak for battling homeowners, but it's also throwing up bargains for savvy househunters.
Bernadette Langford fell in love with her modern two-bedroom townhouse tucked away in a quiet Guildford street before she laid eyes on the price tag.
But owning her dream home was made a reality when she won it at an auction for $351,000 - $80,000 less than the previous owners paid for it.
Ms Langford, a sales representative, still cannot believe she managed to outbid everyone else and grab such a bargain.
"It's a steal these days," she said.
"I saw it and fell in love with it. Every other house in this complex was bought for more than $400,000."
She sold her Penrith house and closed the deal on the Guildford property in November last year.
"If I hadn't got into the real estate market early there is no way I would have been able to get this one," she said.
"It was a bargain, but I am glad that I fixed my interest rate at 8 per cent, so I know how much my repayments are for the next five years. Not knowing how much you have to pay is no way to live."
The 28-year-old said her bank had recently valued the home at over $400,000.