The Israeli company Africa Israel Investments (AFI) is going to fund the construction of the Business Park in the Bulgarian Black Sea city of Varna.

AFI’s subsidiary AFI Europe signed Sunday an agreement with Investcreditbank to provide EUR 59 M for the project.

The Varna Business Park, which is located close to the Varna Airport and to the Black Sea coast, and includes 35 000 square meters of office space plus another 15 000 square meters that are currently undergoing reconstruction.

Only the plot where the Business Park is located together with the three existing buildings is worth EUR 76,5 M.

The first building of the Varna Business Park was opened in July, 2006.

AIF is an Israeli holding company owned by the billionaire Lev Levaev, whose wealth is estimated at USD 6,5 B, and who currently lives in London.

AIF Europe has 32 projects in eight European countries.