AII Data Processing
24 October 2006
The municipal administration of Sliven, southeastern Bulgaria, will slate for sale through a competitive procedure a 7.8 hectare municipal land plot, it was reported on October 24, 2006.
The deal's parameters have been under discussion since early 2005 when Sliven-based textile company Decotex stated its plans to buy the plot in the northern part of the town and build a luxury residential complex in partnership with a U.S. Company.
The plot includes a disused hospital complex. The buyer will be obliged to change on its own account the land designation and build a residential complex on it. Bidding for the plot will start at 3.9 mln Bulgarian levs ($2.5 mln/1.9 mln euro) with an increment of 40,000 levs ($25,668/20,449 euro).