Keywords: Tishman International, Alan Levy"The chairman of U.S.-based Tishman International Companies said Tuesday that its euro 65 million (US$78 million) property development project at Sofia Airport was well-timed to take advantage of Bulgaria's planned entry into the European Union.
The California-based real estate developer is building a logistics center with corporate offices and other business facilities near Sofia's airport.
'With its rapid economic development, its planned accession to the EU and its well-trained labor force, Bulgaria is an increasingly attractive place for international investment projects,' said Tishman CEO and Chairman Alan Levy.
Bulgaria is expected to join the EU in 2007.
The Sofia Airport Center will include about 25 acres (10 hectares) of built-up area and should be completed over the next three years, Levy told reporters in Bulgaria.
The new development will be run by Tishman Management Company EOOD, a Bulgarian unit of Tishman International Companies.
The corporation is planning to sell or rent facilities in the complex to local and international grocery store chains, freight forwarders and other companies that need commercial space close to Sofia Airport.
Construction will be carried out by local companies. The new complex will create between 1,000 and 1,200 jobs."
Source: Forbes
