Cleves launches Sofia’s most expensive apartment rentals project

Luxury apartment rentals company Cleves said on February 15 that it opened its most expensive rentals project in Sofia – a 34-apartment building in Iztok borough.

The company spent 10 million euro on the project, Cleves Este, including two million euro on fitting out the apartments, furnishings and equipment. Five of the apartments have already been rented, for as much as 3000 euro a month, value-added tax excluded, the company said.

"There is a shortage of high-quality rentals in Sofia. Despite the economy, underlying demand from international clients in this niche is strong," Cleves partner Vesey Crichton said in the statement.

The secure compound, near the Joliot Curie metro station, had its own shops and restaurants on site, as well as underground parking, landscaped gardens and children’s playgrounds. The company said that swimming pool and health club were scheduled to open in the near future.

The building itself has eight floors, with a ground-floor suite of offices, 34 apartments and 49 parking spaces. This is the company’s fifth rental property, and it now operates 91 apartments in Sofia in the Boyana, Oborishte, Izgrev and Manastirski Livadi boroughs.

Cleves, which focuses on the top-end of the rentals market, said that it was in the process of acquiring a 40 million euro portfolio of up-market residential property in Sofia.

Text and photo source: sofiaecho.com

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