Simid LTD - Sofia - Short Company profile

In the ranking of issued construction permits for residential buildings in the capital in 2022, the first 13 are already above this square footage, with the largest projects reaching 90 - 100 thousand square meters. In total, the top 15 complexes have 0.6 million sq.m (gross area with basement), which makes about a quarter of the entire permitted residential area of 2.6 million sq.m for construction in the city last year. Investors are building ever larger buildings, with the most popular form being the gated complex. Vacant land, it seems, is becoming more and more expensive and scarce, so buildings are also becoming taller, making room for local parks and gardens. The review of the projects from 2022 shows that quite often the owners of land in Sofia prefer not to sell, but to assign the right to build against compensation with ready-made apartments. This is useful information for buyers because it is likely that these people will eventually enter the market as sellers. Ideally, it is expected that the final ownership of the land will pass to the final home buyers. Given the scale of the projects, it is logical that they are implemented in stages. It also seems that it is being built quickly, because there are only a few cases where there is a permit and the work has not yet started. Inflation, including that in construction, has subsided recently, but projects where final prices are announced for green buyers are still rare. Most often this happens when there is an exclusive broker in the sale, and in some cases with large complexes investors prefer to sell like this. Who's who in the top 15 building permits for homes in Sofia in 2022. 1. "Lozenets", "NZ Hladilnika" The largest permit for the construction of housing in Sofia in 2022 is for a complex of multi-family residential buildings with shops, restaurants, an underground garage, etc. with a total gross floor area with a basement of 100,128 sq.m in the Hladilnika Refinery in Lozenets . It was issued to the company "Srebarna Estate", in which equal shares are held by Mitko Karadjov, Georgi Hristov and Kristina Ivanova Chorleva-Aleksieva - all three shareholders in the company "Simid". "Srebarna Estate" is the owner of over 17 decares of land in the area. The investment will be made by the BLD company, part of Hristo Iliev's "AG Capital" holding. The owners of the land do not sell it, but grant the right to build against compensation through ready-made housing. About 500 apartments and 5,000 sq.m of retail space will be built, GPA = 57,660 sq.m, GPA with basement = 100,128 sq.m 2. "Oborishte", "Prof. Milko Bichev" street 2 Teatralna Park Residence is the first gated complex in the Oborishte area. The project envisages 277 two-room, three-room, four-room, multi-room apartments and maisonettes in six entrances with underground garages on a plot of 12 decares. It will have its own indoor park, landscaped interior spaces and communal terraces for relaxation and entertainment. A supermarket, restaurant, cafe, shops and gym are planned on the ground level. Two permits have been issued to "Bitumina Management" for the project, which is being conducted in the "Poduene-center" area. The Bulgarian company is owned by the Austrian "Bitumina GmbH", but is associated with Veliko Zhelev - the owner of "Hidrostroy", one of the largest local infrastructure builders. Teatralna Park Residence is currently at excavation level. GPA = 42,703 sq.m., GPA with basement = 70,724 sq.m 3. "Student", Residential complex "Malinova Dolina" A complex of three multi-family residential buildings with shops and an underground garage in "Studentski Grad". There are also three contracting parties: "Delchev Engineering" is a family-owned market company, which in 2022 alone won 20 public contracts for a total of over BGN 5.9 million, mainly in the municipalities of Velingrad, Kuklen, Rakitovo, Belovo. "Plot-arch" is a company that in 2020 became the property of Gergana Dimova, after Dian Dimov transferred his shares to her. "Infrastroy Sofia", which is now called "Sofia Vision Group", is announced as the third contractor in the register. The company is co-owned by Svetozar Atanasov Hristev and Rumen Spasov Dimitrov. Both of them are involved in numerous companies, being co-owners of "Pazardzhik Invest". The building will be located on the new Zhivko Stalev Blvd. and is currently in the excavation stage. GPA = 25,294 sq.m, GPA with basement = 49,046 sq.m 4. "Krasno Selo", "Zhitnitsa" Street and "Kostenets" Street Nido Residence is a gated complex that includes two residential buildings, commercial facilities and a restaurant with a garden. It is located on a plot of 8.7 decares, of which 4.5 decares is a park. Car traffic and parking are entirely underground. The investor is the company "Nido Residence", in which partners are "AP Capital" of Petar Dudolenski and Angel Angelov and "Smart Property Fund" - the property company of the owners of the software SiteGround Tenko Nikolov and Ivo Tsenov. Construction should start this April and be completed in December 2025. GLA = 30,264 sq.m, GLA with basement = 47,215 sq.m 5. "Youth", "The Bells" - "Youth 4" "Iris Park" is a closed residential complex that will offer 284 apartments - two-room, three-room and four-room, distributed in six residential entrances. The buildings are 10 stories tall, each with three levels of underground parking. There are a total of 329 garages and 231 basements. The green areas are 5.6 decares. The building will be LEED certified. It is expected that in the middle of April the building will reach the height 0 and the construction of the floors will also begin. Half of the investor company is owned by Asen Lisev through his company "Bravo Hold A". Lisev is a construction entrepreneur, until recently working primarily in the office segment and owner of the consulting company MBL. The other half is divided between the owners of the Plovdiv company "Hus Invest" - the brothers Alexander Asenov and Ivan Asenov, through separate companies. "Hus" has been actively entering the Sofia housing market in recent years. GPA = 29,287 sq.m, GPA with basement = 46,699 sq.m 6. "Ovcha Kupel", Gusla Street #7 Teritoria is a complex of five buildings of different sizes, reaching up to 18 floors on a plot of 11 decares, of which the built-up area is 20%. Work is currently underway on the first phase, which includes three buildings with a total of 165 apartments, 96 of which have already been sold according to exclusive seller Home2You. The prices are between 1400 and 1800 euros per sq.m. It has currently reached the 4th floor, with plans to have rough construction completed by the end of the year. When completed, the complex should have 307 apartments and 311 parking spaces. The building permit was issued to AK Properties and VI Real Estate, who are also the owners of the land. The companies belong to Anton Angelov, his father Konstantin and his sister Viktoria, who cede the right to build against compensation. The investor in the project is "Home to You Engineering" through "Territory Invest". Both companies are owned by Dimitar Dimitrov, Dimitar Gospodinov and Martin Srebrov. Home2You is also their agency. It is planned to have a restaurant, garages, underground garages, playgrounds, a multipurpose field, an outdoor gym. GPA = 32,525 sq.m, GPA with basement = 40,684 sq.m 7. "Serdika", "Banishora", "Skopje" 3 Central Park is a closed complex, which in its finished form will include seven buildings on a 30 decares area, of which 12 decares will be a park. The announced prices are between 1316 and 1942 euros per sq.m. The buildings have 18 floors, and the total gross floor area is nearly 90,000 square meters. So far, building permits have been issued for the first three. It has been under construction since July last year and the most advanced of them are already above the fifth or sixth plate. In its entirety, the complex will include 872 homes - from one-room to multi-room, and nearly 30 commercial establishments, one thousand parking spaces and over three hundred bicycle parking spaces. The investor is the joint-stock company with a special investment purpose "Arco Towers". The company and Peyo Nikolov, who until 2017 was a major shareholder in the CarpetMax chain, actually had a permit for a mall and office buildings on the site since 2009, but are now unfreezing the project as residential. Apart from Nikolov, the board of directors of "Arko Towers" REIT also includes Stanislav Ananiev and Alexander Dimitrov. The largest share is owned by the former executive director of the Privatization Agency Iliya Vassilev. GPA = 14,942 sq.m, GPA with basement = 36,054 sq.m 8. "Youth", "Youth 2" In August last year, the joint-stock company "Renaissance" received a building permit for two buildings with public services, apartments, studios, an apartment hotel, underground garages and parking spaces in "Mladost 2", on a total of 9.7 decares. The ultimate owner of the company is "Overgaz Holding" with main shareholder Sasho Donchev, and it is represented by Atanas Angelov Atanasov. So far, construction has not started. GLA = n.a., GLA with basement = 34,497 sq.m 9. "Studentski", "Malinova dolina-east" Building permission for three multi-family residential buildings with an underground garage in the "Studentski" district was also obtained by the company "Bulcat Invest", which has Spanish owners. The main share in it is held by the Spanish "Balkanes Inversiones", and the minority shareholder is Casimir Sala Trullols. Trullols is the manager along with Aniceto L?pez Rodr?guez and Jos? Domingo Fern?ndez Terr?n. "Bulkat Invest" was registered back in 2008, and its current management dates from 2013. This building permit is its first activity since 2007, when it received permits for six houses of 400 sq.m each in the area of " Cinema Center" - Boyana. In those days, "Bulkat Invest" worked together with a man named Nikola Nedyalkov. Construction in "Studentski" has not yet started. GPA = 18,473 sq.m, GPA with basement = 32,418 sq.m 10. "Triaditsa", "Monastery meadows-east" "Mona 3" is the next building under this name of the BLD in "Manastirski livadi-istok". It provides for 172 apartments, shops and two levels of underground garages. The construction has already reached the fourth slab and according to information from the company, 60% of the homes have already been sold. The apartments in entrance B are sold turnkey, and in the other entrances - with putty and screed. The contractors are "BLD Mona" and "BLD Triaditsa 3". BLD, part of the AG Capital holding, is the owner of more plots in the area. A permit has already been issued for the "Mona 4" building. GPA = 20138 sq.m, GPA with basement = 29,201 sq.m 11. "Mladost", Refinery "Iztok", Kuro area When completed, Harmony Residence will offer to the market 240 apartments in a residential building with a transition in floors and underground garages, on a plot of 5.3 decares in the housing complex "Polygona". The investors from "Harmony Group" received permission for the construction in October last year. The company is owned by Tihomir Monev Kolev and Nedelcho Monev Kolev and is registered in Stara Zagora. The two also have a Sofia company - "Harmony Group Investments". The group presents itself as the successor to Harmony Suites, founded in 2004, which they define as a leader in the construction of residential complexes along the Black Sea. It has built 72,500 square meters of built-up area, has 1,300 sold apartments and 14,000 reservations in 2019. In Sofia, the company has another Harmony One building - next to the metro line at "Avtogara Yug". In addition, according to the Commercial Register, Nedelcho Kolev is a partner with Miroslav Shalev in the Simeonovo Gardens project. GPA = 18,360 sq.m, GPA with basement = 27,371 sq.m 12. "Mladost", Refinery "Iztok", Kuro area A group of Israeli citizens has received permission to complete the construction of an administrative-residential complex with offices, shops and underground garages, which is located on 7 acres in the "Polygona" district. The main actor is Rami Maimon, apparently based in Bulgaria, who participates through his own company Fortune Investment. He is also the manager of "Property 2019", in which he is a partner with Yitzkah and Zafrir Alon and Ezra Monis. They joined the company in 2021 after other nationals from Belgium and Romania transferred their shares to them. GPA = 20,436 sq.m, GPA with basement = 27,179 sq.m 13. "Lozenets", "Vitosha-VEC-Simeonovo", 1-5 "Mogilata" St. Reina Sofia Residence is the new building of the investor "MD Property" at 1-5 "Mogilata" street in the area of "Hladilnika" Refinery. The residential part consists of two buildings in a connected development with five entrances. The project is for 158 apartments and 195 parking spaces for cars. MD is part of a group of companies created by entrepreneurs Miroslav Toshkin and Delyan Doychev, whose main business is in the field of renewable energy. The Reina Sofia Residence project is also advertised as energy efficient. Among the contractors whose name is the building permit are the company "Mound 1" of Zaki Majid and Zubeida Asad, Elena Radulova-Petrovich, Radoslav Mondashki, Valentina Mondashka, Gitsa Shahugyan, Stoyan Stoyanov, Todorka Krasteva. They are actually the owners of the land who will be compensated for the granted right to build through apartments. 62 apartments have already been sold. The building, according to investors' information, is built up to the sixth floor. It is expected to be completed in 2024. GLA = 19,997 sq.m, GLA with basement = 26,668 sq.m 14. Studentski, residential complex "Malinova Dolina" In January 2022, Tsvetan Tsvetanov, Veselin Vuchkov, Yordan Hristov, Snezhanka Antonova, Marin and Krasimir Krastevi received a building permit for the construction of a group of residential buildings with shops, public services, garages and underground parking in "Student City". In 2020, by order of the mayor, ownership of a plot of land totaling 7.8 decares was restored to these citizens. They probably provided it for compensation to the construction company "Slav-stroy" of Slavyan and Kalina Juvanovi, from where they explained that the project is currently in the rough construction stage. "Slav-stroy" was registered in 2004 and has a number of residential projects in Sofia, some of which are under the brand Casa Solare, "Narcis", "Arena Garden". GPA = 19,397 sq.m, GPA with basement = 25,621 sq.m 15. "Ovcha Kupel", 9 Gusla St "Gusla" is a closed residential complex, which includes three independent residential buildings, located on a plot of 7.8 decares in the old part of "Ovcha Kupel", near Tsar Boris III Blvd. The first and second buildings are currently under construction, and only apartments in Building 2, as well as above-ground and underground parking spaces, are for sale. Rough construction is expected to be completed in April this year, with deed 16 in August 2024. In addition, the complex will have a fourth building that will house a spa, gym and restaurant. The contracting authorities are "Center Stroi" and "PAV Invest" (PAV) - both related to Angel Pavlov and his family. PAV is a construction and investment company that, according to its website, has 27 years of experience in the construction of residential and office buildings. Since 1994, there have been over 60 projects in Sofia, two hotels in the capital and one in Bansko. It has its own production base and has sold over 2,500 apartments in Sofia so far. GPA = 21,213 sq.m, GPA with basement = 23,947 sq.m