Estonian real estate developer Arco Vara plans to begin next year the construction of 24 family houses at its ongoing Botanica Lozen residential project near the Bulgarian capital Sofia. The company is in the process of designing the next phase of the project, with sales contracts already agreed for two out of the initial 16 houses whose construction is underway.
Botanica Lozen will comprise 54 single-family homes, with the project estimated to last at least two years. In October, Arco Vara contracted the local unit of Austria’s Strabag to build the first stage of the project.
The development was relaunched in 2021 after being frozen due to the coronavirus pandemic. The company decided to modify its form to family houses from the initially planned apartment complex.
