Uk Real Estate Agency Freezes Residential Complex Project In Sofia

The UK Black Sea Property agency announced Monday that it was putting off the realization of its "Ever Green" residential complex project located in the Malinova Dolina ("Raspberry Valley") quarter in Bulgaria's capital Sofia.The news was reported by the Bulgarian financial newspaper Pari Daily, which explains that the management of the real estate agency, which is listed on the London Stock Exchange, had decided to postpone the project in expectation of a better market situation, and was going to keep the plot of 24,6 decares as part of its real estate portfolio.The construction of the closed-type Ever Green complex was supposed to start in September. It is designed to include 27 detached houses, and six small apartment buildings.The manager of the agency John Chapman is quoted as saying that the decision to put off the start of the construction had been motivated by the oversupply in some sectors of the real estate market.