Purchase of plot of land, Bulgaria

In accordance to its strategy for further development in Central Eastern Europe, LAMDA Development, through its 100% subsidiary LAMDA Development Sofia EOOD, has signed a pre sale agreement for the purchase of a plot of land of 11.000 sq in Sofia, Bulgaria. The plot is situated in one of the suburbs of Sofia where most of the high quality residential developments take place. The price of the plot is €2,4 million and the company will develop luxurious residencies. The total cost of the investment is expected to reach €10 million.