ALPHA GRISSIN has proceeded to the implementation of significant investments in the markets of Bulgaria, Poland, and Romania, which demonstrate high growth margins and particularly promising profitability prospects.

• Bulgaria
  The activities of the ALPHA GRISSIN Group in the real estate markets of SE Europe started from Bulgaria in 2004 with the establishment of the subsidiary ALPHA GRISSIN IMOTTI AD.
  ALPHA GRISSIN IMOTTI, having been timely and effectively placed on the Sofia market, currently holds 7 plots covering an area of 145,000 m2 in total, whose exploitation corresponds both to residential buildings and the development of commercial areas and logistics installations.
• Poland
  ALPHA GRISSIN operates in Poland via its subsidiary ALPHA KRAKOW DEVELOPMENT, which has already since 2007 proceeded with the development of a residential building in the area of Zamblocie, covering an entire area of 38,011 m2 above ground level on a privately-owned plot of 26,900 m2 in total. The building will comprise 453 apartments, while it will include underground parking spaces, fitness, spa areas and shops, covering an area of 7,000m2. The upgraded style and modern character of the building’s apartments are expected to shape new conditions for the residential market of Krakow, meeting the increasing needs arising for high-specification residential buildings. Project completion is scheduled for the second quarter of 2010, while the pre-sale of apartments has already started from the fourth quarter of 2007.
• Romania
  In 2008, via its subsidiary ZH Real Estate Construction SRL, ALPHA GRISSIN penetrated the Romanian market by acquiring a land plot of 65,600 sqm north of Bucharest, in the Tunari district. ALPHA GRISSIN plans to develop a residential /single-family houses complex which will meet the needs of the Romanian population. Project commencement is expected in the second quarter of 2010.