If you last came to Bulgaria on a school ski trip under Communism and are thinking of returning,you will be pleasantly surprised at the improved service-but perhaps taken aback by the rate of construction at the hotspots, such as Banskoin the Pirin mountains or at certain sites along the Black Sea.The development wave is now [...]
Initial plans announced by the Transport Ministry to sell railway stations Pioner and Serdika are yet again to fall through, Dnevnik daily reported. The paper quoted Minister Petar Moutafchiev as saying that a possible obstruction to the sale was problem with the citys land register. It would take up to a month for the regional administration to prepare a new ground plan for the Pioner station. Last year,
Greek company Alpha Grissin plans to build a logistic park in Sofias Vruzhdebna district, in the vicinity of Sofia international airport, company representatives have said. The project will emerge on a 28 000 sq m plot owned by the firms Bulgarian unit, Alpha Grissin Imoti, and will have a builtup area of some 29 000 sq m. Construction is due to begin next year. No further financial details were immediately
Bulgarian property funds do not plan to raise fresh cash for investments and have no trouble selling their finished projects, major market players have said. The bulk of the companies have already secured resources and agreed bank loans, but owned up to slower sales and pickier housing and holiday property customers. Offices in good locations and with developed infrastructure are still in demand.
The size of bad loans for individuals and households came close to equalling underperforming corporate loans at the end of July 2008, although the total size of the retail segment was about 11 billion leva smaller, central bank data has showed. Bad consumer, mortgage and other types of retail added up to 468.5 million leva, compared to the 493.6 million leva in bad corporate loans. Corporate loans as a total
Israeli investors Tidhar Group and Asim Real Estate Ltd., in partnership with Bulgarian Investment Group announced plans to collaborate on a mutual eco project called Razlog Village All Seasons Nature Resort. The investment was worth 250 million euro and envisions eight hotels spread over 150 000 sq m. All facilities will have the capacity of 1500 rooms, which could house up to eight thousand people a day, the
Bulgarian real estate investment trust REIT Bulland Investments has broken ground on a Nissan showroom and service centre in the northern town of Veliko Turnovo, executive director Valentin Karabashev has said. The REIT has signed a tenyear lease preliminary contract with the car maker. The project will cost about four million leva and will open in seven months on a 0.7ha area. The centre will
Arco Invest, a unit of Estonian real estate group Arco Vara, started construction on a six million euro gated complex in Sofia. The complex, set to be the companys biggest investment so far, will rise in the upscale Manastirski Livadi district. It will have three residential buildings with a combined floor space of 35 000 sq m, hosting 300 flats and 25 retail outlets. Arco Invests first Bulgarian project, Boulevard
This may sound like a freakish selling technique, and most likely, many developers would find that it really is.Irish investor PJ Doherty recently began to offer his clients a free apartment in Bulgaria, if they would purchase property in his development in Milford, a resort area in the northwest of Ireland, BBC reported.
The mortgage portfolio of Bulgarian banks reached 130 870 loans at the end of June 2008, an increase of 32 228 over the same month of the previous year, data of the central bank showed. The average size of a mortgage loan surged to 51 692 leva, compared to 44 750 levs in June 2007. Even though interest rates have risen over the past 12 months, mortgage lending to individuals and households has increased by 50 per