Construction of the first gondola lift above the town of Samokov will begin in October 2007. The construction is part of the Super Borovets project and will continue 12 months, Monitor daily reported. The capacity of the new facility will be 2500 people an hour and its speed will be six metres a second. Borovetss new lift will reach the Markudjitsi ski runs and its route will be 9.2km long.
Immofinance, part of the UK investment fund Equest, has launched the construction of a resort village two km to the south of the coastal town of Sozopol. The company will invest 40 million euro in the project, called Sozopolis, 24 Chassa daily reported. Sozopolis will span nearly 90 000 sq m, but the gross build up area will be only 34 000 sq m. Low buildings, green areas and a 1500 sq m spa centre with mineral water
The Bulgarian commercial property market is expected to face oversaturation in an averageterm period, according to prognosis made by Absolute Capital Management ACM investment fund manager Robert Provine. The fund raised 100 million euro a year ago. It planned to invest in Central and Eastern Europe with a focus on Bulgaria and Romania. Despite its intentions, it has no project in Bulgaria yet,
A total of 201 000 sq m of mall retail space is under construction in Bulgaria. The increase in the amount of shopping mall area was of 138 500 sq m in the first six months of 2007, Colliers International research showed.The increase could be attributed to the launching of the construction of several new big shopping projects. The construction of three major shopping centres began in 2007. Carrefour Mall and Serdika
After the overdevelopment in Sofias northern areas in the past years, the municipality is expected to fund construction projects at the foot of Stara Planina, or Balkan, mountains.Investors in industrial property and warehouses increasingly focus their interest in the north, Capital weekly reported.Although the region has been traditionally thought of as unattractive for residents, architects have been considering
Demand for holiday property at the north part of Bulgarias Black Sea increased substantially in 2007. The towns of Kavarna and Balchik, together with the regions near the Golden Sands and St. St. Konstantin and Elena resorts have attracted investors interest, imot.bg research showed, as quoted by Pari daily. Demand for holiday property in these regions has increased by 40 to 50 per cent in the summer of 2007,
The rental market in Bulgaria is expected to experience substantial growth in the second half of August and the beginning of September 2007. Outside the central parts of Sofia and the other big towns in Bulgaria, which usually have high demand for rental apartments, the interest in apartments for rent near universities has been also increasing, 24 Chasa daily reported. Sofias top ten most preferred
Almost all the dams in Bulgaria became target for rapacious investors over the past years. In most cases, the banks of dam lakes are being built up without zoning plans, Pari daily reported. Not a single construction project in the vicinity of Bulgarian dams has a water purification system. Bulgarian legislation bans construction near dams. Kamchia and Yasna Polyana are among the dams affected by over
The volume of the property investment market is expected to grow to 3.7 billion by 2011, as compared with the current 1.7 billion. Deutsche Bank property subdivision PREEF said in a recent report that the investment market of business property in Eastern Europe would grow by 100 per cent by 2011, investor.bg reported. PREEF defined the investment market of business property as such properties that are
One quarter of adults in Bulgaria own farmland, but about one third do not use it, a BBSS Gallup International found in a nationally representative opinion poll conducted among 1 010 adults in 115 Bulgarian settlements in July 2007. The results of the poll were disclosed in quot;24 Chassa quot; daily on August 8. The average amount of land owned is 1 hectare.