The compound consists of 765 apartments of which 55% were sold in six years.
The money obtained from housing sales went into paying part of the developer’s EUR70 million debt to its majority lender, Alpha Bank.
In 2008-2010, the average sale price of a home in Asmita Gardens stood at EUR1,600/square meters. After the opening of insolvency procedures in November 2011, the average selling price dropped to EUR1,000/sqm. From the start of construction in 2007, only 55% of the total number of apartments has been sold.
The residential compounds consists of seven high-rise buildings with 60 four-room apartments, 296 three-room apartments, 332 two-room apartments, 70 studio apartments, 7 penthouses, 5,900 square meters of shopping spaces, and 9,000 sqm of gardens, playgrounds, and green areas.