Asim Real Estate buys land in Bulgaria

Israeli real estate company Asim Real Estate, owned by Avhiahi Stolero and Mishala Shulman, has announced plans to purchase two lots in Bulgaria, where residential and commercial projects will be built.

The total cost of the projects will amount to 4.85 million euros (some $6.52 million).

Asim Real Estate will hold 40 percent of the project, which will be carried out in cooperation with Liberty Properties, which will own 50 percent of the project, and a local Bulgarian partner who will hold 10 percent of the project.

The joint companies purchased a 7.5 dunam lot for 1.65 million euros ($2.22 million) in Sofia, and intend to continue purchasing land until they own a total of 25 dunam in the capital.

The company also purchased an 18.5 dunam piece of land in Stara Zagora in central Bulgaria.