Property developments worth over 2B euro put on hold
The effects of the mortgage meltdown in the US and the subsequent global financial fallout are slowly being felt in Bulgaria, with property developers putting projects worth over two billion euro put on hold.The crisis is hitting hard across the board, business climate is changing and no sector will escape unscathed, Rossen Plevneliev, manager of property developer Lindner Immobilien Management, has said. Next year will be a tough time for businesses, but 2010 may see the light at the end of the tunnel, he said.