News and Events at River Park

We entered September 2022 with brand new streets and alleyways in River Park. The street network connects all 110 houses built in the First Phase of the complex. Once completed, construction crews will move on to shaping the street surrounding the complex, as well as the jogging track next to it.

River Park is one of those residential projects that is distinguished by an innovative concept for a living environment and its subsequent implementation at every stage of its realization. The speed at which the development is progressing is impressive, all houses in Phase One of the development have already been sold, construction is nearing completion, and will be fully completed by the end of this year.

While the finishing touches are being applied to the last houses in Phase 1, the construction crews have now focused their efforts on the construction of the street network and shared areas in River Park. Alley 2 and the entrance paths to the houses on it are now fully completed and provide an increasingly realistic perception of how the completed project will look.

Over 80% of ​​River Park’s area will remain non-built-up and will used for open spaces - a fact that sets the complex apart from all other housing projects in Sofia. The utilization of these open areas is subject to in-depth and precise analysis, which takes into account the latest trends in the sustainable development of urban planning. Particular attention is paid to the playgrounds - here, unlike other gated communities in our country, they are scattered throughout the complex...

All 110 houses from the first phase of River Park are sold out and have new owners. The interest that the housing project has drawn from those looking for a new home once again emphasizes how successful its concept for a home close to nature and to the city is.

The first Sample house in River Park was officially completed this month and welcomed the first visitors, looking for the perfect home for their families. We spoke to Hadar Shamay, Director of Establishment and Construction of River Park project, to learn more about the interior of the sample house and how it is linked to the overall concept of River Park.

Phase 1 of River Park is set to be completed in less than a year. The complex attracts those home seekers who are looking for a healthy living environment close to nature and the amenities of the city, which has led to 80% of the houses being sold.

One and a half years after the River Park groundbreaking ceremony, all 110 houses from Phase 1 have been built, and just a few days ago the final ones also received Act 14 certification. Act 14 certifies that the rough-in construction of the buildings has been approved by the relevant authorities. Receiving it gives the green light to move on to procedures for issuing Act 15 and Act 16.

In November we completed the facades of the first row of Twin houses. You can clearly see the large plant pots and the entrances to the underground garages – both of which are distinctive features for these types of houses. We also began laying the foundation for the first street within the complex.

Take a look at the latest photos here:

The construction process throughout October continued to move along at an impressive pace. In addition to the row houses from the first rows of the complex, the twin houses from the second row now also have finished facades.

Take a look at the latest photos from construction site.

The construction of the 110 houses in Phase 1 is progressing at an impressive pace even during the summer. A number of them are already nearing the advanced stages of completion and will soon have fully finished facades. The rest are also progressing rapidly, as can be seen from the latest photos from the construction site.

One year since the groundbreaking ceremony of the largest housing project in Sofia!
Phase 1 ends at the end of 2022 and 110 families will have their dream home in River Park.

Ori Niv has over 20 years of professional experience in the field of real estate in Bulgaria and is one of the pioneers in the construction of residential complexes in Sofia. His latest project is the River Park complex, located at the foot of Vitosha Mountain, 15 minutes away from the city center. In Bloomberg Businessweek's latest issue, Mr. Ori Niv talks about the progress of construction over the past year.

Less than a year after the groundbreaking ceremony, construction has started on of all houses of the first phase

This project’s main value is the quality of life in it once construction is completed, says the investor

47 of the houses in the River Park have already received Act 14, and 16 more will receive it soon.

Act 14 is a step for control of construction activities, certifying the acceptance of the construction of the building. It allows to start procedures for issuing Act 15 and Act 16.

In our first conversation, Desi and Galya from the River Park Sales Team shared details about the concept of the residential complex and what type of buyers would appreciate it. Today they tell us more about the progress in construction, property maintenance and which types of houses are the most sought-after.

Desislava Lyubenova and Galina Vasileva launched their consulting company ProjectOne in 2018. Their focus is on the housing market, for which they provide comprehensive consulting and brokerage services for residential housing investments. Shortly after founding the company, they met River Park investor Mr. Ori Niv, and the opportunity to participate in the creation of the project appealed to them.
We met with Desi and Galya to find out everything about the project River Park.

The progress of the construction is remarkable, and the construction site is getting closer to the desired vision of the complex. 73 of the houses are finished up to the roof. 13 of the houses have reached the second floor, and 13 are up to the first.

As spring progresses, the construction of River Park continues to reach new milestones. At this point, 62 out of all 110 houses in Phase 1 have been completed up to their roof. 24 others are nearing the completion of their second floors, and 2 of the houses have walls on the first floor.

What sets River Park apart from other residential complexes in terms of Landscape Architecture? How does the complex fit into the initial landscape plan of Sofia? We talked again with landscape arch. Dobromira Lulcheva to find answers of these questions. Together with her team at Landscape Design Studio she has created the distinguished concept of River Park by integrating homes and nature together.

Landscape architect Dobromira Lulcheva is one of the founders of Landscape Design Studio, established in 2016 with a vision to create spaces that bring forth a natural feel. As a landscape architect, she believes that the most important thing is to create with a sense of aesthetics, sustainability and balance in the environment, in which she works. The idea to work in harmony with nature is even woven into the studio’s motto – “sense of nature”.

Mid-February marks 7 months since the start of construction of River Park’s Phase 1. Up until now with completed wooden roof structure are 31 of the houses. 23 others are nearing the completion of their second floors, and 18 of the houses have walls on the first floor. The foundations of the remaining houses will be executed following the winter period.
Don't miss the latest photos from construction site here.

River Park is one of the major projects in Ivo Petrov - Architects's portfolio, with a team of over 10 experts working on its creation. Their work started in 2018 with the concept development and preparation of a number of creative proposals by arch. Denitsa Drumeva and Daniela Angelova. Arch. Angel Hristov joined in during the technical and detailed design phase. In this exclusive interview they share interesting facts about the residential complex and its most important benefits.

6 months after the official groundbreaking ceremony, the construction of River Park’s Phase 1 is going at an excellent pace. 14 of the houses in River Park have been completed up to the roof, and 37 others are nearing the completion of their second floors. 12 of the houses have foundations and walls on the first floor. The foundations of the remaining 27 houses will be laid during the upcoming two months.

The construction of River Park is proceeding at a rapid pace. By the end of the year, 87 of the houses will be under construction, 14 of which will have been built up to their roofs. The construction of the complex is planned to continue for about 5 years. The first phase includes 110 houses and is expected to be completed in 2022.

In less than 5 months since the Groundbreaking ceremony in July, the construction of 70 houses has already started. This is more than 60% of all planned for the first stage of River Park. The construction is in different stages for each house - by some of them the foundations have been dug, while in others the second floor has already been reached. The work on the site is progressing at an impressive pace.

The artworks from the exhibition “Window to Childhood”, created by some of the best Bulgarian graffiti artists - Nasimo, Sve, Esteo, Arsek & Erase, were donated by River Park to a number of schools in Sofia. The company’s aim was to contribute in bringing positive emotions to children and teachers during the challenging school year ahead.

The symbolic groundbreaking ceremony marked the start of the implementation of the largest residential project in Sofia - River Park.

Real Estate Developments selected Kalistratov Group for the construction of the largest residential project in Sofia - River Park. Kalistratov Group’s expertise, experience and high-quality team won the trust of the investor for the realization of complex, following the procedure for selection of a contractor.

UniCredit Bulbank is the financial institution, which will support Real Estate Developments for the construction of River Park residential complex. This is one of the most large-scale projects in Sofia and it will offer two-storey houses, each with its own backyard.

In March, the new River Park office opened its doors for the first time. This brand new venue is where our team will welcome everyone who would like to learn more about the project and take the next step with us toward purchasing their new home.

At the foot of the Vitosha mountain, situated on an area of 215,000 sq. m. and in close proximity to the first stop of the lift from Simeonovo to Aleko we find the plot of land on which the River Park complex is scheduled to be built.

The River Park residential complex has become synonymous with high quality and innovation, a notion that has been proven once again through its latest structural addition. River Park Project Manager Hadar Shamay led the initiative to transform a group of disused construction containers into a flexible living environment, containing several work areas, a kitchen, a spacious living room, a children’s corner, garden and relaxation area.

The art director and curator of the creative initiative is one of the most popular graffiti artists - Nasimo. His urban graffiti work is renown not only in Bulgaria, but also in Canada, the United Kingdom, Germany, Austria, Italy, Belgium, Portugal, Poland, the Czech Republic, Romania, Serbia, Greece, Kosovo, Turkey, India, China, and Russia.

Investor Digest: Sofia is still underpriced compared to other big cities

The interview with Ori Niv, Real Estates Development CEO

The idea behind the River Park complex brings together four women from the business. The purpose of the project - to bring nature back into everyday life without depriving the city of its facilities - cuts across their professional paths.

"River Park will distinguish itself by its planning, social environment and maintenance, "revealed the manager of Ivo Petrov Architects

Modern residential complexes offer a whole new way of life to their residents

"Often, residents of urban areas suffer from poor infrastructure, polluted air, etc.," said Ori Niv

Careful research and design is the formula for success in residential construction, the investor believes

Its purpose is to bring nature back into everyday life without depriving it of the amenities of the big city.

"Our goal is to attract Bulgarians and people who will live in the complex as buyers and not just investors who will not use the residences most of the time," Ori Niv said.

Graffiti tours are already being organized for tourists in Sofia, comments one of the most famous graffiti artists in Bulgaria.

The River Park team initiated one of the most massive art demonstrations done in recent years in Bulgaria. The project was inspired by the boundless creativity of a child's imagination.
On the 28th & 29th September 2019, Nasimo, Sve, Esteo, Arsek & Erase demonstrated their immense talent live, for all the visitors of the Amphitheater arena in Ring Mall, Sofia.

"The River Park location is a gift to any real estate developer - a vast green space and a river on its eastern border and thanks to the slope, it offers great views of the city to the north and Vitosha to the south."

10 September 2019 marked the start of our good deed initiative - #TheGoodNeighbour. The River Park team set up a special booth in Business Park Sofia and conducted a survey on the best qualities of a Neighbor.