The Russian holding “Etalon-LenSpecSMU” announced the start of its first project out of Russia.
The company will invest 30 M EUR in an apartment complex on an area of 22 thousand sq. m in close proximity to the Bulgaria Golden Sands resort, informed sgrada.com.
The funding will be implemented through credits from foreign banks. The project is expected to be finished by the first quarter of 2009.
“Etalon-LenSpecSMU” plans the realization of two more residential projects in Bulgaria and an expansion to Serbia in a short term.