ZTE to provide IT solutions for luxury property project in Bulgaria

Bulgarian Development Holdings Ltd.(BDHL) has teamed up with Chinese telecom equipment maker ZTE Corp for a 1.5 billion euro ($1.6 billion) entertainment and commercial complex near Sofia, BDHL said on Sunday.

BDHL, controlled by Chinese and Hong Kong investors, plans to launch the St. Sofia project, which will comprise a 2,000-room hotel, office buildings, a large aqua park, an exhibition center and an arena 20 km east of the Bulgarian capital in the second half of 2017.

"Because we shared a similar vision of embracing technology with ZTE, we decided to work together to build a smart entertainment and commercial complex," Albert Hung Chao Hong, Vice-President of BDHL said in a statement.

The partnership, under which ZTE's unit ZTEICT will provide IT solutions for the project, was signed during the Belt and Road initiative summit in Beijing, BDHL said.

(REUTERS)