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DUBAI PUTS FOOT IN BULGARIA


 3 billion euro for Inmobiliaria Colonial was offered by Investment Corporation of Dubai,also the panish developer that owns of Riofisa, which is developing two designs in Bulgaria worth more than 450 million euro.1.85 euro for each part of Colonial was overpaid by , which lost half its market cost in six the past months.This was on 27 of February and  the offer is 8.8 per cent higher than the last price of the preceding day.Investment Corporation, which now has more than 55 billion euro of credits, would get 12 billion euro of credits inclusive malls and offices in Paris and Madrid. Colonial also owns a 15 percent stake in Fomento de Construcciones y Contratas, Spain's 3th-largest building agency The market value is 839 million euro, which will construct Danube Bridge 2, connect Vidin and Bulgaria, and the adjoining infrastructure. The two designs are accounted at 162 million euro.Colonial is the owner of the sail developer Riofisa SA, which it gained in 2007 for 2 billion euro. The last who  has two big plans in Bulgaria – the mixed-use Civis centre near Sofia’s central railroad station, only the first step of which will cost more than 270 million euro, and a 175 million euro shopping centre locate in  Plovdiv.Investment Corporation is the 3th firm to get near Colonial this year as a slump in the Spanish estate market is gaining momentum. The other two were the Paris-based developer company Gecina SA and General Electric."The propose is object to a big number of conditions, which throw a uncertainty over if it will really go onward," announce Juan Jose Figares, chief analyst at Link Securities in Madrid.
 



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