UniCredit Bulbank Will Fund the Construction of RIVER PARK Residential Complex

UniCredit Bulbank is the financial institution, which will support Real Estate Developments for the construction of River Park residential complex. This is one of the most large-scale projects in Sofia and it will offer two-storey houses, each with its own backyard. The complex is situated at the foot of Vitosha mountain, near the starting point of Simeonovo lift, which leads to the top of the mountain.

The Chief Executive Officer of Real Estate Developments, Mr. Ori Niv, shared that he believes in the success of the project: “In the last few months we saw how important is the place where we live, work and share with our families. Our aim is to build a complex that has a place for all, homes that offer comfortable, calm and pleasant time spent at home”.

“UniCredit Bulbank has established itself as a reliable partner of the business and we continued our support for the good projects, no matter the challenging times due to the pandemic crisis. We are therefore happy to be the financing bank of the large-scale projects in Sofia“ said Ana-Maria Barakova, Head of Real Estate Financing at UniCredit Bulbank. The bank has already proved its stable capital position and its readiness to support the economy, as well as its business clients and individuals with different measures, financing and granting schemes and availability of credit lines.

River Park has all the necessary construction permits. Activities for clearing of the site are currently ongoing and only recently an office of the developer opened doors on the spot, so that anyone interested can get information about River Park in detail and feel the atmosphere of the place.

The architectural design of River Park envisages construction of 352 single-family houses with a backyard and with a view to Vitosha mountain and Sofia, covering an area of 215,000 sq.m. The construction will be carried out in three phases. The first of them is expected to be finalized in the summer of 2022 with the first 110 houses.

What distinguishes River Park is the low density of construction – only 15%, and thus within an area of over 179,000 sq.m. vast green spaces will be created with more than 3,000 trees, where residents can enjoy picnic areas, paths for walks and running, outdoor fitness areas, a park for dogs and service infrastructure.

River Park company has more than 40 years of experience in real estate. The project is financed by Real Estate Developments (RED), which is 100% subsidiary of Dynamic Group – an international developer group with headquarters in Netherlands, established in 1973, and most of its activities are related to real estate development on a global scale.