200 M BGN will be invested in the building of a new residential complex in Sofi (the Bulgarian capital, called Winslow Gardens.

Winslow Developments, a Sofia-based company with Bulgarian and UK shareholders will be the investor, and its partner RREEF, a subsidiary of Deutsche Asset Management owned by Deutsche Bank.

The complex will be situated in the Manastriski Livadi ("Monastery Meadows") Quarter in the southern part of Sofia, close to the Vitosha Mountain. It will include 437 apartments, a park, spa, swimming pool, and other sports facilities. Over 60% of the apartments have already been sold.

The first phase of the project, which must be completed by the middle of 2010, will be funded with a BGN 72 M from the Austrian-owned Reiffeisen Bank granted for a period of 42 months.

The construction works will be performed by the Glavbolgarstroi company.