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Tishman International with major project in Bulgaria

Date: 02.11.2005

Tishman International Companies, based in Los Angeles, CA, USA, with their European Headquarters in London, UK, announced a large investment in Bulgaria.

The project, named Sofia Airport Center ( ) will be constructed over the next two years in partnership with the German Contractor Lindner AG.

It is proposed to develop Corporate offices, a logistic centre and other business facilities on the site consisting of approximately 1.4 million sq ft with a projected built up area of about 1.1 million sq ft.

"Sofia Airport Center will be the premiere corporate office, and logistics Centre in Bulgaria. Our company is very proud to be the first major global developer with such a project in Bulgaria. We and our partner firmly believe that Sofia Airport Center will become not only the biggest, but also the most dynamic development of its type in Bulgaria", said Julian Edwards, Tishman`s European Managing Director.

In the past couple of years Bulgaria becomes more and more attractive for large international investment projects. With its fast growing economy and forthcoming EU membership, expected in 2007, the country was logically chosen by Tishman as the most desirable and attractive place for such a large and exciting project.

The new Commercial Park located approximately 1000 ft (300 m.) from the new Airport Terminal, will be developed and managed by Tishman Management Company EOOD, part of Tishman International Companies.

The project has been fully supported by the local authority and the municipality. Municipality sources have said that they have complete trust that Tishman`s investment will enhance the Airport area, make it a vibrant business community and will bring an entirely new face to the Bulgarian capital.

The new Sofia Airport will accommodate up to 2.6 million passengers per year, it initially will accommodate 1.9 million passengers and the old airport buildings will, in the foreseeable future, be used for charter flights from all over Europe. It is currently anticipated that charter flights will increase by 40% this winter.

Tishman International Companies are active in the United States and Europe in the acquisition, development, management, and financing of commercial real estate. Tishman has acted as a consultant and joint venture partner to some of the world's leading institutions and private investors.

Sofia News Agency

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