Advance Properties Ltd. and ECE Projektmanagement, together with Balkancar Sredez AD and GTM-Angel Balevski EAD, are building Europe Park, a new urban quarter in the Bulgarian capital Sofia. Europe Park will comprise a shopping center, Bulgaria's highest office tower, apartments, hotels, and entertainment. The investment for the first construction phase amounts to over €250 million.
The project Europe Park Sofia will emerge on a former factory site in the heart of the city: a multi-use urban quarter comprising shopping facilities, offices, apartments, hotels, a cinema and other entertainment facilities.
During the initial phase, for which joint venture structures between the two groups are set up, a shopping center with around 70,000 m² of retail space and an office tower with around 40,000 m² of rental space will be developed. The office tower, with its 40 stories and a height of over 150 meters, will be the highest structure in the country and thus will become the new landmark of the bustling capital. The project also includes the creation of approx. 3,000 parking spaces.
The start of construction for the first phase is scheduled for the fall of 2007 and will be completed by 2010.