The Bulgarian Council of Ministers has now approved a project-memorandum of collaboration between the government and investor Garanti Koza Bulgaria.
The document was regarding the project named Grand Kanyon – Sofia.
A large-scale tourism and recreational complex is to be built in the Sofia neighborhood Mladost on territories owned by the Turkish company.
The total cost of the investment will be BGN 120 M, which will involve the construction of a shopping mall, a 765-suite living complex, hotel, a park, amphiteater, children’s playground and a skate park. Approximately 240 new employment opportunities will be created through the project.
The names chosen for the three buildings are ”Rila”, ”Vitosha” and ”Pirin”, named after three of Bulgaria’s mountains.
It is expected that construction works for the project will be completed by January 2018.