Lindner to invest another 100 million levs in Residential Park Lozen and its Tech Park

Lozen Tech Park is a project focused on the construction, management, and development of the first private science and technology park in Bulgaria. These are all initiatives that are transforming and developing the urban environment, noted Rosen Plevneliev, President of Bulgaria from 2012 to 2017 and Chairman of the Advisory Board of Lozen Tech Park.

Office in the Park, Park in the Office

Lozen Tech Park is envisioned as a complex that brings together Bulgarian and international tech companies, R&D centers, startups, universities, and institutions. Its first two buildings are nearly complete and will become fully functional this autumn. They will serve as corporate buildings for Lindner, with space also available for external tenants. A restaurant, a retail store, and a yoga center are planned as part of the facilities. The investment in these buildings so far amounts to 25 million levs. Construction of buildings three and four is about to begin. In total, Lozen Tech Park is planned to include 16 buildings and a conference center.

The first two buildings of "Lozen Tech Park" will come into operation in autumn

Photographer: Georgi Kozhouharov

Source: Dnevnik

"We are carefully monitoring the office market and building step by step. Our company believes Lozen Tech Park will offer a different kind of office product in response to the changing nature of office use. The idea is to create a campus culture with low-rise office buildings," said Georgi Ranchev, Managing Director of Lindner Immobilien Management and Lozen Tech Park.

Seventy new homes

The third phase of the residential component includes 70 new homes, adding to the 220 that were built during phases one and two. Virtually all of those units have been sold, except for five that are currently under reservation status and expected to close soon. At present, around 100 families live in Residential Park Lozen, including startup entrepreneurs, foreign nationals, and diplomats, according to Georgi Ranchev.

Homes in the upcoming phase will also be sold off-plan. However, due to a dynamic market and rising construction costs, prices will be announced individually for each residential unit at different stages, Ranchev explained. He added that once a contract is signed, the company sticks to it, without adjusting pre-sale contract prices during construction to account for increased costs.

The third stage is scheduled to begin this October or November and should be finished by mid-2028. This autumn, the settlement will also see the opening of a school for 650 children, under a signed agreement with Uwekind International School. The facility will include a kindergarten and two classes per grade from first through twelfth grade. It will feature a sports hall, library, and event spaces.

Because of this educational infrastructure, valued at 15 million levs, Lindner has been certified as a Class A investor by the Bulgarian Investment Agency. As part of this designation, funding support for building technical infrastructure is expected to be provided by the Ministry of Innovation and Growth and Sofia Municipality. Specifically, the plan involves the rehabilitation of the existing road connecting the Ring Road to Residential Park Lozen and the school.

20 million levs for public municipal infrastructure

In addition, Lindner is building a direct connection between the complex and the Ring Road via Panorama Lozen Street, which, according to Georgi Ranchev, is expected to be completed within a month. The company has an agreement with Sofia Municipality to build, at their own expense, the street within the complex that will be called Lozen Park. Before moving on to new phases of residential construction, Lindner plans to make further investments to improve infrastructure in the area.

The management is also working with Sofia Water and the mayor of Pancharevo to build a drinking water reservoir, which will partially solve problems in the village of German. They have invested in upgrading the electricity grid and have connected the area to the Kambanite substation.

Their total investments in public municipal infrastructure in the area amount to approximately 20 million levs. "Our projects require significant investment in public infrastructure, and as a result, the area develops and attracts other investors," said Georgi Ranchev.