Orchid launched the construction of 16-storey building in Varna,

which will offer residential, office and retail space. The investment in the project is estimated at EUR 50m and its total built-up area exceeds 42,000 sq m. Located on Osmi Primorski Polk Blvd., the building will include three underground levels providing car parking and shopping space and a retail center on the ground and the first floors. Construction works are expected to be completed in spring 2010. Orchid Developments Group is a real estate developer, which is traded on the London Stock Exchange and is active in all real estate market segments in Bulgaria.