Marma Starts Work On 40m Euro In Varna Gated Community

Bulgarian firm Marma has launched construction work on its 40-million euro gated residential complex in Varna, Dnevnik daily reported on March 11.

The New Varna community, located in the Galata district of the coastal city, will have a footprint of 73 975 sq m. The project funding is provided by the Bulgarian American Credit Bank.

In the first first phase of the project, 17 luxury family houses with an area of 6 200 sq m each would be built as part of the Varna Mirror area within the complex. Varna Mirror 2, also part of the first phase, should receive a construction permit by end-March Marma owner Metodi Metodiev said, as quoted by Dnevnik daily.

Varna Mirror 2 will feature four apartment buildings with a total of 135 units and a gross actual area of 38 785 sq m. The whole first phase should be completed by 2010.

The second phase, Anenko City, should be delivered in 2011. It will consist of eight apartment buildings with a total of 275 units. No pricing information is currently available, Dnevnik reported.

The New Varna community will have a shopping center, restaurant, coffee bar, spa and gym.