Galaxy Investment Group has acquired one of the largest plots for residential development in Sofia. The plot of the former “Balkancar 6th September” is 193,000 sq.m. The acquired plot is excellent for multifunctional development. The former industrial territory will be transformed into a lively urban area, a catalyst for the balanced development of the western district of Sofia.

The site located between Nikola Mushanov Blvd. and Zhitnitsa Street, on the border of Krasna Polyana and Ovcha Kupel quarters. This is one of capital’s areas with long-term perspectives and communicative location, which has not yet been rebuilt, and has fully built infrastructure. It is well connected via the main street network to the Sofia Ring Road and the main office districts of the city. А new metro station will be open, just 500 meters from the plot, in the beginning of 2020.

 "We are fortunate to have been able to acquire such a strategic location that enables the realization of a large-scale concept. Revitalizing former industrial territories is the future of Sofia, where population growth outstrips available land for development. Galaxy Investment Group has good experience in urbanization of large territories such as the Recreation & Culture Residential quarter project in Plovdiv. Our goal is to create a mix of features that will become a standalone centre in this part of the city. We are going to specify our ideas in a master plan.", said company’s CEO Konstantin Boyadzhiev.

The seller is Akropolis Real Estate BV., a Dutch company owned by Akropolis Group UAB, one of the largest real estate investors in Lithuania. The former “Balkancar 6th September” was privatized in 2005 by Lithuanian investors. There was a plan to create a commercial centre with offices and residential area, which was frozen in 2008. Eleven years later, the site was auctioned and acquired by Galaxy Investment Group.