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For Investors
The developers of Herakovo Hills project have purchased 120,000 sq.m. of land ideal for the construction of a gated housing community. The land, located in close proximity to the village of Herakovo in Bojurishte municipality, has been regulated and a design visa has been obtained.
The current investors are now looking for a partner to join them in the development of the first stage of the project, which will be built on 25,000 sq.m. of land and will comprise between 50 and 60 land plots/houses. Ideally the investment partner will bring in the funds needed for building the project infrastructure (roads, electricity, water and sewage) estimated at approximately 350,000 Euros and together with the current developers will market the parcels among people looking to build their own house on a regulated land plot with a built-in infrastructure. The parcels will range from of 330 sq.m. up to 800 sq.m. and will sell at prices starting from 25,000 Euros per land plot.
Recent surveys have indicated that even in today’s market there is relatively high demand for land plots with built-in infrastructure from people looking for a better quality of life not currently achievable inside the city of Sofia. The project location offers phenomenal views towards several mountain chains, great sunshine, crispy air and good access to Sofia city through a newly built highway.
We believe that this is an excellent investment opportunity for someone seeking high returns at a relatively low cost. The investment partner will enter the project based on the acquisition cost of the land plots and will enjoy considerable upside potential upon the success of the first stage of the development. The joint venture can then be extended with the development of the remaining part of the land plots.
The potential partner will benefit from a well thought residential development concept, which has proven its viability in other Eastern European capitals but which is still new to Sofia. The final objective is to build a community of houses, which offers not only a place to stay but a whole new lifestyle. This will be achieved through low-density construction, well landscaped parks and gardens, the presence of many sports facilities and children’s playgrounds, as well as through a well-managed commercial area.
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