Advance Properties and ECE present highest building of Bulgaria (BU)

Last week at the Expo Real in Munich, Georgi Domuschiev, Managing Director of Advance Properties, and Alexander Otto, Chairman of the board of ECE, unveiled a model of Europe Tower Sofia. The office tower, with its 40 stories and a height of over 180 meters, will be the highest structure in Bulgaria and thus will become the new landmark of the bustling capital.

Europe Tower is a major part of the Europe Park Sofia which will emerge in the heart of the city on a former industrial site. It will be built together with the Europe Center, which will offer approx. 70,000 m² of retail space and thus be one of the biggest inner city shopping gallery of Sofia.

Europe Park Sofia is being realized by the following partners: ECE Projektmanagement, European market leader in shopping centres, GTM-Angel Balevski EAD, Balkancar Sredez AD and Advance Properties Ltd., one of the biggest real estate players in Bulgaria.

GTM – Angel Balevski EAD acquired through the privatization process in Bulgaria Balkancar Sredez AD in 2006 and attracted as a strategic partner for the realization of the above men-tioned ambitious targets 'Advance Properties' Ltd.

The Investment Group 'Advance Properties' is established with wholly private Bulgarian capital in 2003. The Group owns strategic stakes in several companies in the real estate business, industries as machinery, pharmaceuticals, etc. The market value of the Group in-vestments exceeds €500 mln.

The companies of Advance Properties have a strong commitment to integrity, manufacturing quality and customer satisfaction. Their flagship products are sold in globally competitive markets: this challenges them to extend the reach of their businesses through strategic alli-ances with important industry players.

The Hamburg-based ECE group has been developing, planning, constructing, leasing and managing large shopping centers since 1965. With 90 shopping centers under management at present, ECE is the European market leader in this field. In all centers located in Germany, Poland, Hungary, Turkey, Greece, the Czech Republic, Austria and Qatar, about 9,400 retail partners generate €10.4 bln. in annual sales on an overall sales area of 2.7 mln. m². Another 26 shopping centers are currently under construction or in the planning stage throughout Europe. ECE has been awarded numerous international architecture prizes for its malls.

Source: ECE

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