The mayor of the Vitosha district eng. Teodor Petkov, representatives of the architectural studio Ivo Petrov - Architects, partners and homeowners attended the groundbreaking ceremony of the River Park residential complex, owned by Real Estate Developments.

The symbolic groundbreaking ceremony marked the start of the implementation of the largest residential project in Sofia - River Park. Its implementation is planned to last about 5 years in three separate stages. The first phase is expected to be completed in 2022 with the completion of the first 110 houses. In its entirety, River Park includes the construction of 352 houses, infrastructure and a park environment on an area of 215,000 sq.m. The investment in the project will exceed BGN 160 million, and cooperation with Unicredit Bulbank has already been agreed, which will finance its construction.

The aim in the overall design of the open spaces in River Park is for them to resemble the natural environment and landscape. The design of the spaces is inspired by both the smooth shapes of the mountain and the river, as well as the fast pace of the city. The landscape is designed so that the complex provides a home for both people and nature. To be a place for living, rest and entertainment in a clean, healthy and natural environment. This is achieved by providing large and efficient green spaces, which in addition to the aesthetic qualities have various functions - social, health, environmental, etc. At the groundbreaking ceremony the first of a total of 3,000 trees was planted.

The sale of over 40% of the 110 houses in the first stage has already been agreed.

Real Estate Developments recently announced it had selected the Kalistratov Group company to build the complex. The Kalistratov Group’s expertise, experience and highly qualified team was the key factor in the investor’s choice for the completion of the complex, following a contractor selection procedure for. Kalistratov Group is a company with an excellent reputation and great expertise in the construction of iconic public, administrative, industrial, residential buildings and infrastructure projects. It is managed by a team of professionals with many years of experience in the construction industry.

It has over 40 highly qualified engineering and technical staff for project management and implementation and has its own resources, working groups and construction machinery, which ensures the shortest possible time, high quality and precision of work performed.

“As soon as I set foot here, I felt the energy of the area with my heart. I heard the river, I gazed at the mountain, and the sun shone everywhere. I was convinced that this is the place from my vision of the project, through which I would be able to share all this splendor with many families looking for a harmonious way of life close to nature. During the last year, we have all seen the importance of home. As a place to grow, play, rest, study, work and have fun. A place for real life. The challenge for me and my team is immense in these times, but the faith in the project and the enthusiasm to create it will help us along every step of the way”, stated the CEO of Real Estate Developments Ori Niv.

About the investor – The company behind the River Park project is Dynamic Group, a company with over 40 years of international experience in real estate and Billion-euro investments in large-scale projects around the world. It has been operating in Bulgaria for 20 years, investing mainly in industrial properties and retail space. The construction of River Park is carried out through its subsidiary - Real Estate Developments.