Elevate

The Ring Mall Development Project, officially named Elevate, is a transformational mixed-use development that will redefine luxury living, business, and tourism in Sofia, Bulgaria. Strategically located at the base of the Vitosha Mountain ski area, this project brings together world-class hospitality, premium residential offerings, high-end retail, and cutting-edge business spaces to create a vibrant new urban district.
Situated along Okolovrasten Pat, Sofia’s most important commercial and business corridor, Elevate benefits from direct access to Sofia Ring Mall, IKEA, major business parks, and the city's expanding metro network—ensuring seamless connectivity to Sofia’s city center and international airport. The project is being developed in partnership with Danaos, a key player in large-scale real estate investment and development.
At the heart of Elevate is JW Marriott, the anchor hospitality tenant, bringing five-star luxury accommodations, a state-of-the-art conference center, a world-class wellness spa, and a signature rooftop bar and restaurant to the development. With JW Marriott as a flagship brand, Elevate is set to become a premier destination for both international travelers and Sofia’s elite.

A World-Class Urban District
Spanning 300,000 m² of built-up area, Elevate integrates:

A JW Marriott 5-star branded : hotel & serviced residences (50,000 m²) – Featuring 250+ luxury rooms, a conference center, casino, rooftop bar, and spa, catering to both business and leisure travelers drawn to Sofia’s expanding tourism and corporate sectors.
A premium Class A office tower (55,000 m²) : Designed for multinational corporations, IT firms, and financial institutions, offering flexible, high-tech commercial spaces in a rapidly growing business hub.
Luxury Residential Community (100,000 m², 550-600 units)
For-Sale Apartments (55,000 m², 300-350 units): High-end branded residences, appealing to both investors and long-term residents.
Rental Apartments (30,000 m², 150-200 units): Serviced residences managed by an international hospitality brand, ideal for expatriates, corporate professionals, and short-term stays.
Single-Family Townhomes (15,000 m², 50-75 units): Exclusive townhomes offering private terraces, direct access to resort-style amenities, and a low-density residential setting.
A high-end retail and entertainment district (45,000 m²): Expanding on the success of Sofia Ring Mall, featuring luxury flagship brands, fine dining, premium cinemas, and cultural attractions.
A state-of-the-art logistics and business park (50,000 m²): Designed for warehousing, distribution, and e-commerce operations, supporting Sofia’s growing business and trade sector.

With its unmatched location at the base of the Vitosha ski area, Elevate will serve as a gateway to year-round mountain tourism, enhancing its hospitality, retail, and residential appeal. Additionally, the project's direct link to Sofia’s metro expansion will ensure fast and efficient transportation, providing residents, office tenants, and tourists seamless access to the city center and international airport.

Investment Details

• Project Scope: JW Marriott 5-star hotel (250+ rooms), Class A office tower, 550-600 residential units (for sale & rental), high-end retail, logistics & business park
• Total Built-Up Area: 300,000 m²
• Hotel & Serviced Residences: 50,000 m²
• Office Tower: 55,000 m²
• Residential (For-Sale & Rental Apartments + Townhomes): 100,000 m²
• Retail & Entertainment District: 45,000 m²
• Logistics & Business Park: 50,000 m²
• Total Project Cost: €420 million (adjusted for built-up area and use mix)
• Investment Needed (LP Equity): €126 million
• Loan Amount: €294 million (70% LTC)
• Loan Terms: 4.5% interest rate, secured (UniCredit)
• Expected Completion Timeline: Phased over 60 months from invest Bulgaria

The Ring Mall Development Project—now branded as Elevate—represents one of the most ambitious investment opportunities in Sofia’s modern real estate market. With JW Marriott as its flagship hospitality brand, direct access to a major retail hub, world-class business and residential facilities, and unparalleled proximity to both the Vitosha ski area and the Sofia metro network, Elevate is set to become the premier destination for luxury living, commerce, and tourism in Bulgaria.