Arceland ::

Arceland Development

Together with leading investors from the United States and the GCC countries, Arceland agreed to create Arceland Development at the end of 2006. Since 2007 Arceland Development has successfully deployed ˆ75 million in new investments in Sofia and the company is currently completing entitlement activities on its assemblages to optimize values for resale.

The investments are concentrated to the assemblage of three big residential land plots, at the areas of Liulin (project “Esperia”), Bistritsa (project “Bistritsa Hills”), Pantserevo (project “LakeView”). The total inventory is currently 400,000 square meters of gross area (after giving effect to public dedications) and includes building rights for over 575,000 square meters of residential, office and retail space in prime locations. The company intends to co-develop or sell this inventory upon completion of all its value - enhancing entitlement procedures in mid 2010.