Portfolio - EUROPE, MIDDLE EAST, & AFRICA

Chepelare Ski Resort, Chepelare, Bulgaria

Development Type: Luxury Condominium with Retail Space

Chepelare is a small city in south-central Bulgaria, and is the sunniest town in Bulgaria (with an estimated 270 days of sun a year). The winter is mild and warm with an average snow cover of 30-80 cm, which remains between 80 to 100 days a year. Apart from the mass seaside and skiing tourism, Bulgaria has marvellous conditions for cultural and historical tourism, rural tourism, eco tourism, spa tourism, adventure, hunting and all other types of activities.

Our Chepelare development is an upscale condominium complex with 1-2 floors of retail space on the ground level. We acquired it in 2007. The site is located approximately 2 km from the Chepelare ski lift and 10km from Pamporovo ski resort. The lot is located on the main road to Pamporovo on the side of town closest to that resort. It is located adjacent to facilities of the Bulgarian National Academy of Sport. The city of Chepelare and surrounding region are known for skiing and other outdoor recreational activities as well as for fast-growing spa centres in the region. Chepelare is a wonderful resort for the ski sport, where it has the longest ski run in the region (5200 m), with a double seat chair-lift, a ski school and snowboard.

Romania Land, Romania

Development Type: Land Speculation

Bhansali Equities has purchased, in partnership, 2 plots of land in 2006. The first plot is of 10 hectares corner land on the main and only highway in and out of Brasov E60/DN11, at 10km from the city on the main intersection between Brasov, Feldiora, Halciu. The second is 7.6 hectare plot of land and is 2km further down in the same location.

The pictures shown are on the E60 out of Brasov, where you have quite a bit of traffic, 3 gas stations, a few big name stores (i.e. German company Reinert), and a huge cement company that is right across our land on the main highway side.

Sestroretsk, St. Petersburg, Russia

Development Type: Residential Complex

St. Petersburg is considered the most "Western" city in Russia and has been dubbed the Venice of the North for its palace-lined waterways. It has a population nearing 5 million and is located on the Neva River at the head of the Gulf of Finland on the Baltic Sea. In 2003, the government spent more than 1 billion dollars restoring St. Petersburg to its prerevolutionary splendor.

Sestroretsk is a resort town with over 40,300 residents under jurisdiction of Kurortny District of St. Petersburg. It is one of the most picturesque places on the North coast of the Gulf of Finland and Sestra River, approximately 34 km northwest of St. Petersburg. The town is also known as a balneologic and climatic resort, and is one of the most promising districts from the point of view of elite residential property development.

This development project was a great acquisition and development that BE undertook. It is a new residential beachfront development in the Town of Sestroretsk. Being able to acquire this land at a great price the project offers great upside over a 2-year period. The Property will consist of approximately 30 three-story town houses with parking garage and front and rear landscaping for a total of 90,000 buildable square feet, with a land parcel of 80,400 square feet. The Property will be one of the only beachfront residential developments, providing direct access to the beach. Furthermore, the location of this property is prime, as it is located 34 km from the major city of St. Petersburg, where there is a large deficit of single family homes. This forced expansion creates a significant demand to prime property in suburbs, such as the resort town of Sestroretsk.

New Sochi, Alpine Street, Sochi, Russia

Development type: Luxury Condominium Development

Sochi - host to the 2014 Olympic games, is a unique location offering year-round sea or ski vacation flexibility. The luxury condominiums are comparable to the luxury ski resorts in Courcheval-France, Squaw Valley-Tahoe California, and Whistler Blackcomb-Canada.

The New Sochi site is located on Sanatornaya Street in a western Sochi neighborhood in the hills overlooking the Black Sea. The resorts Raduga and Rus are located nearby as is the Presidential summer residence as well as developed neighborhoods with shops, a movie theater and other luxurious entertainment. On the other hand, the Alpine Street Complex is well located within walking distance to the Sochi central Business district. Landscaped recreation area including a large pool, outdoor dining area and above and underground parking facilities are available in both complexes.

The development was acquired in 2007, and is a 26,000 square feet parcel facing mostly unobstructed panoramic views of the Black Sea, where the mountains will have two 11-story structures with 154,000 square feet of marketable condominium area. Each apartment will include balconies and fireplaces, and the landscaped recreation area includes a large pool, a barbecue/outdoor dining area, as well as above and below ground parking facilities. The development is within an hour distance from the Adler-Sochi International Airport.

Stepashka, Sochi, Russia

Development Type: Mixed-Use Retail / Office Complex

The Stepashka property is on a corner location where 3 streets converge. The main road off the sea is only 50 meters away and it's a short walk from everything in downtown, such as Sochi's most expensive restaurant, Club A and one of Sochi's top condo developments (the "Premier"), which are both a block away. Major governmental offices are already established down the street, with the plan that the Border Guard is to soon be installed in a major office/residential complex under construction on the block.

We invested in this development in 2007. The current store is 300 meters squared on a lot that is 50 meter squared. We have received approvals from the City architect for 5-story redevelopment plans, and the property is being marketed as such. The development will be allowed to have 1,551 meters squared of saleable area.