will invest BGN 20,000,000.
- in the construction of the new
residential complex SELECT APARTMENTS.


The residential complex is situated at the foot of Vitosha mountain, in the residential quarter of Knyazhevo - vicinity of Karpuzitsa.

      In the end of March 2007 the construction of nine separate residential buildings was launched, forming SELECT APARTMENTS.
      Eurobull Bulgaria Holding EOOD is a company with established traditions in the construction branch.
      Owner and managing director of the company is Dipl.Eng. Plamen Beninski. He has acquired his experience in the field of construction and development of a large number of sites of national significance like the Atomic Power Plant Kozloduy and Atomic Power Plant Belene. He is a managing director of a large number of projects in Petrol Chemical Plant - town of Bourgas, Petrol Chemical Plant - town of Pleven, etc.
      Dipl.Eng. Plamen Beninski is an ex-chairman of the Bulgarian Construction Chamber and present chairman of the National Association of the Builders of Residential Sites in Bulgaria (NABRS).
      In the end of March the first dig in the construction and development of SELECT APARTMENTS was made and were launched active construction activities.
      The investor has assigned the performance to several subcontractor companies that have proved and established their positions in the branch.

      SELECT APARTMENTS has developed built-up area over 35,000 sq.m and has been developed in a terrain of an area of 8,000 sq.m. It is oriented along Evliya Chelebi Str., and has wonderful view to the south to Vitosha mountain and peak Kopitoto.
      In immediate vicinity to the complex is situated 26th Comprehensive High School and there are two main transport arteries passing by - Nikola Petkov Blvd., and Tsar Boris III.
Around the complex there is anticipated a ring road which provides access of the automobiles to the underground parking lot and the inner yard site.
      The ensemble of nine separate blocks having various number of floors shapes the inner yard, into which may be entered from three parts - south, south-east, and north-east.
      The first two levels of the complex are anticipated to be used for office space and retail shops. There is overall commercial center, servicing the residents of the region.
      The total number of the apartments is 20 (twenty). By project there are anticipated two-roomed apartments of an area from 45 sq.m to 74 sq.m, compact three-roomed residential sites having an area of 79 sq.m, spacious three-roomed apartments with an area from 88 sq.m to 100 sq.m, and luxurious four-roomed residential sites having an area of 130 sq.m. They will be heated by natural gas.
      The inner yard site is developed over underground parking lot, which is situated at two levels and provides 120 parking places and 120 separate garage cells.
      The deadline of completion of the whole complex is April 2009.
has already insured the interest of a large number of residents of Sofia City and residents of Sofia District.
      The people willing to purchase apartments, ateliers, office space, retail shops, garages, and parking places in the new complex may submit their requests with Silistar South Ltd., which will carry out the sales without a commission fee. In the offices of Silistar South Ltd. one may obtain detailed and comprehensive information in terms of dislocation, distribution, the prices and the possible schemes of payment of the real estates of the residential complex.

View of the inner yard site of the residential complex.

    Interview with eng. Plamen Beninski – manager of Evrobul Bulgaria Holding EOOD six months after the beginning the construction, published in BG Stroitelen Pazar newspaper number 42/29.10.2007

The equilibrium between prices and quality sells the sites, built by
Eurobull Bulgaria Holding Ltd.
     In the end of March 2007, Eurobull Bulgaria Holding Ltd. launched the construction of nine separate residential buildings, comprising SELECT APARTMENTS situated in the residential quarter of Knyazhevo. The investor has assigned the performance of several subcontractor companies, having proved and being distinguished in this branch. The complex drew up the attention of a large number of residents of Sofia, and the District of Sofia, and also a large number of foreign citizens from Spain, Italy, Poland, U.S.A., England, and Switzerland. The deadline of its completion is April 2009. In order to find out how far the construction works of SELECT APARTMENT has gone, how the sales in the complex are going on, and to which companies has the investor assigned its trust, we met with Dipl. Eng. Plamen Beninski, Managing Director of Eurobull Bulgaria Holding Ltd.
   - Mr. Beninski, how far the construction of SELECT APARTMENTS in the residential district of Knyazhevo has gone. Would you be so kind to tell us what is the situation today, half a year later, after turning the first sod in March 2007?
    - Onto the present day blocks B-1 and B-2 that are attached to one another, are at 6th slab, Block E is at 5th slab, Blocks B-4a and D, and also blocks C and B-3 are at 2nd slab, and in the case of blocks B-4 and B-5 we are completing the excavation works. The whole site is within the time schedule, as you can see completed step-by-step, and blocks B-1 and B-2 will be completed in recent time. It is co-ordinated with the bank that provides the funding and they are also pleased with the fact that we comply with the stipulated terms.
   - The marvellous view to Vitosha mountain, the ensemble of nine separate buildings of various number of floors, which shape the inner yard site with small garden, the underground parking lot, which will have places for all the owners of apartments, and the easy access to the complex already provoked the interest of a large number of residents in the city of Sofia. How far do the sales in SELECT APARTMENTS go?
    - The sales are going on very well, onto the previous week we have already exactly 100 executed contracts for apartments, and taking in consideration that they are exactly 220, this means that we have already reached half the number - an achievement that not all builders and investors may praise, and which shows an enviable tempo. We hope until the New Years Eve to complete the transactions, especially having in mind that November and December are the strongest months, and I am out of any doubt that we will sell the remaining residential apartments of SELECT APARTMENTS as well.
   Very often people ask us how do we achieve this. The secret is in the reasonable balance between price, location, and quality of the construction. The people appreciate the ratio price/location, the facilitated access to the residential quarter, the availability of a school and shopping sites, and the infrastructure in general, the two large boulevards, particularly Tsar Boris III Blvd., which leads directly to the centre of the city, and deem that all these facilities are rather valuable. On the other hand our prices are not so high and they draw out the conclusion that with us the most advantageous is to purchase an apartment, particularly if they insist on living in the prestigious southwest part of Sofia.
   - What are your intentions in the future?
    From now on it is quite natural for our intentions to be the development of new projects, however onto the present moment I could not say where exactly we are going to build, moreover the deadline of the take-over of SELECT APARTMENTS is April 2009. However I can state out for sure that we have oriented towards the performance of more serious sites like this one, which we are currently building up. In terms of both the large sized and the small-sized buildings, for example comprising about 2,000 - 3,000 sq.m or even 5,000 sq.m of developed built up area, the procedure for approval of the projects in the development of the required infrastructure - electric power supply network, water supply and sewerage system, road access, gas pipelines, etc. have almost equal duration, which makes the small-sized buildings unprofitable. To us it is economically more favourable and more profitable to build up large residential complexes. Naturally this is also a question of opportunities, and we have such, and that is why we anticipate dealing with large-scale projects. However still from the present moment I could tell where exactly our new building site will be - we are investigating several potential parcels and when we approve one of them, we will announce that officially.
   - Every complex needs maintenance after being built. Who is going to manage SELECT APARTMENTS after the complex is completed? What will be the strategy for its development, after it is populated?
    - The management of a similar complexes includes as a minimum a number of measures that are common to them all - maintenance of the green area, of the elevators, the hygiene in each separate entrance, and in total within the complex, underground garages and parking lots, which will remain unsold, shall be set in operation and use and the stay in them has to be charged at a tariff in some way, etc. This is not expensive by itself, however the General Assembly of the residents will solve with which company they are going to perform negotiations and to which to assign a contract for performing the said services. We are not the people that are going to impose on them or recommend them to hire this of that company. Anyway we do not supply on the market such type of activities, and our plans for the future also do not anticipate doing this. This is a specific work, which is making its first steps at present in Bulgaria, it requires special qualification, and it is really very good to have separate companies, which will deal exclusively with this and when a person executes a contract with them it will know that they will perform their obligations on a freewill and conscientiously.
   - Eurobull Bulgaria Holding Ltd. invested BGN 20,000,000.- in SELECT APARTMENTS. The construction works are assigned to several companies-subcontractors. Which are these companies, and how does the business partnership is going on with them?
    - At present on the site are performed exclusively excavation works and rough construction. The excavation works are performed by the New Light Company, which manages quite well, and the rough construction is assigned to two companies Industrial Construction & Assembly Works Ltd. and Inst Ltd. We are pleased with them as they manage both with the deadlines and the quality assurance of the building, owing to which most probably we will continue to work jointly with them in the future as well.
    Photo: Dipl.Eng. Plamen Beninski, Managing Director of Eurobull Bulgaria Holding Ltd.