The 100 million euro Azur del Mar holiday project on Cape Kaliakra is unlikely to come into fruition, citybuild.bg reported.The developer Kaliakra Invest Ltd suspended continuation due to the expiry of its legally prescribed period, the companys commercial director Mariela Nikolova said.As a tangible object, the project did not exist, though it was being offered by more than 700 companies worldwide, she said.
About four million leva is needed for the development of a fishermans village in Balchik, municipality officials said upon emerging from a meeting with local fishermen, representatives of the sea club, municipal councillors and the mayors team on discussing the project.The future development will be financed through the Phare programme and will be realised with the joint efforts of a consultancy company and the municipality.
King Sturge, the international real estate advisory, is surveying opportunities for entering the Bulgarian market, company officials told investor.bg. Preparations are still at a very early stage, with set plans and a detailed strategy yet to be clarified, company representatives said, adding that they had not decided whether to step directly onto the market or to penetrate through a local partner. The decision is to
Russian holding EtalonLenSpets SMU ELS, specialising primarily in residential construction, started its international expansion through a 30 milliondollar investment in a housing complex in Bulgaria, Property Xpress reported. The holdings first project beyond Russia envisages the development of a luxury condominium near the Black Sea resort of Zlatni Pyassutsi Golden Sands.Finance will be secured through foreign
This years edition of the Balkan Property Exhibition Balpex, to be held from between April 18 and April 20 in Sofia at the Inter Expo Centre, 147 Tzarigradsko Chaussee Blvd, will highlight a number of retail and office projects, including eight large mall projects, the events organisers announced, as quoted by investor.bg.The exhibition is a part of the Balkan Property Week, which will take place from April 14 to April 20 in Sofia. Balpex, in partnership with Colliers International consultants and Pricewaterhouse Coopers, will also organise the second regional conference Balkan Real Estate Conference Balrec on April 1516 at Kempinski Hotel Zografski, which will focus on business opportunities offered by the property markets in Bulgaria, Romania and Serbia.
Germanys ECE Projektmanagement, one of Europes leading firms in developing and managing shopping centres, has launched its third project in Bulgaria, the Cherno More Park mall in Varna, to be located in close proximity to Hemus Highway in the western part of the city, Dnevnik daily reported.The 150 million euro development will spread on a 50 000 sq m plot on the site of the former Vamo diesel engine plant, ECE Projektmanagements managing director Plamen Ilchev said, as quoted by Dnevnik. Completion is due by the end of 2010.
The 30th edition of Stroiko 2000 exhibition will open on March 26 at the National Palace of Culture NDK in Sofia and will run until April 1. Stroiko 2000 is the biggest trading fare for architecture, construction and furnishing in Bulgaria.It takes place twice a year in spring and autumn, at the end of March and October. The exhibition area covers 5 000 square meters at NDK. Every year there are around 700 companies, presenting amp;1072; wide spectrum of products and services from research and development to the miniature interior design elements, both Bulgarian and imported ones.
Karlovo mayor Naiden Naidenov and a number of municipal councillors are trying to delay businessman Hristo Kovachkis project for the development of the town of Banya as a tourist destination, by insisting on his clarifying the origin and the volume of the investment, Dnevnik daily reported on March 24.The municipality and Banya Golf amp;Spa Resort company, controlled by Kovachki, set up the joint stock company Sporten Complex, with Karlovo town hall contributing 12ha of municipal land and the private enterprise pouring 15 million leva in the firms capital and committing to invest another 60 million euro in the construction of a multipurpose sports, golf and villa compound in Banya.
Local real estate investment trust REIT Prime Property BG will pour 64 million euro in the development of a business compound in Plovdivs Trakiya district, company officials said, as quoted by investor.bg.The future centre will spread on a 48 682 plot, comprising four to fivestorey buildings with office and retail outlets, underground parking, restaurants and supermarkets. The gross actual area of the complex is estimated at 110 000 sq m.
Spanish developer Martinsa Fadesa started the construction of its first project in Bulgaria, Stroitelstvo Gradut Construction and the City weekly reported. The firstsod ceremony of the Modera Residence residential complex took place on March 18. The complex is located in Sofias Vitosha neighbourhood, at about 200 m from the ring road and Simeonovsko Chaussee Blvd, and will have a gross actual area of about 54 000 sq m. Architectural project was prepared by Stroyconsult 999 Ltd, with leading designer Yuri Angelov; general contractors are Livel and HydrostroyP; the consultant is Nevon Consult Ltd.