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GEK TERNA Group to Invest EUR 500 M in Bulgaria Real Estate, Energy

Date: 08.04.2010

The Greek group of companies GEK TERNA intends to invest about EUR 500 M in real estate development and energy production in Bulgaria over next 1-2 years.

This has been announced by Konstantinos Lamprou, Group Communication and Marketing Director, GEK TERNA Group of Companies, in an exclusive interview for the Greek Survey of (Sofia News Agency).

Lamprou has also told that 80 % of the major real estate project of GEK TERNA’s Bulgarian subsidiary ICON, named “3TOPS” and located on the Bulgaria Blvd has been sold out.

The downtown skyscraper-type business center City Tower currently constructed by GEK TERNA is expected to be completed in 2-3 years, the Greek manager said.

Lamprou has made clear his company’s optimism for the recovery of the Bulgarian economy.

“In contrast to commercial properties, we believe that the housing sector in Bulgaria suffers a considerable lack of quality options and when the offerings by primarily developers with serious economic problems are absorbed, then good housing complexes in good areas will prove a very attractive and successful investment,“ he told

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