The Seller
Eden Developments JSC is a British-Bulgarian joint venture aimed at developing and managing first-class holiday beach resorts. The owners of the company are highly experienced professionals in the fields of real estate development, construction, hotel and restaurant management, and rental property management.The company was established in 2004 with capital of 250,000 euros. By the end of 2009 the own capital of the company already amounts to 13,456,000 euro, formed from the profit received from the property sales and other company activities.
In national rating for annual financial results Eden Developments is on the place 43 for 2007.
From the date of establishment of the company it has contribute the national budget by paying 1,856,088 euro corporate taxes.
In the second half of 2009 Bulgarian government reconsidered the criteria for identifying of the taxpayers of national importance and from 01 January 2009 Eden Developments was recognized as big taxpayer and social insurer.
The company has already completed and launched in 2007 its first project – the hugely successful “Garden of Eden” in St. Vlas, Bulgaria.
Completed in just over 2.5 years, “Garden of Eden” complex is located at the north part of Sveti Vlas in the picturesque locality Aga Chesme on a south-facing hill that maximizes the number of apartments with sea views. The complex is composed of 13 residential buildings comprising 583 apartments and a hotel part with total spread built area of 72 000 sq.m. and capacity over 2, 500 people.
In 2009 was finished the second phase of Garden of Eden project – Arthouse that added 107 apartments situated in two residential buildings beautifully disposed around an infinity-effect swimming pool.
The total value of the investment for constructing both phases of the project is 41,926,000 euro.
For servicing this small town is created its own infrastructure with roads and streets, green areas with special a irrigation system, swimming pools and water cascades. There was built underground parking with 25o places. It has been constructed an own water conduit with external net. Three local electric generators serve the complex. Garden of Eden has own modern wastewater treatment plant that provides the closed circle of the water supplying with the purified water the irrigation system of the complex.
Eden Developments has invested also in development of the beach area by constructing of a two-level sandy beach and a small pier utilizing the most advanced technologies has radically changed the original stony shore.
In Garden of Eden are disposed seven outdoor swimming pools, three restaurants, a supermarket, three pool bars, art –café, vista bar and night club, business and medical centers, spa and fitness club.
Until end of 2010 Eden Developments has sold 96% of all the apartments of both phases of the project.
