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Bulgarian property fund buys land for logistics center in Vidin
Category: Property newsLocal real estate investment trust has bought for an undisclosed amount a land plot near the ferry port in Vidin, on the Danube, which will be developed into a logistics center, the Bulgarian stock exchange said Thursday, January 25.
The 86,000 sq m land plot is occupied by 7 buildings with a combined area of 1,900 sq m.
The fund intends to build contemporary warehousing facilities that will be leased out.The fund is still in talks to buy a 1.5 ha land plot near the Sofia International Airport. The site could be developed into a logistics center if the sale price ensures the rate of return targeted by the fund.
The fund is also still in negotiations to acquire between 5 ha and 10 ha in Sofia for residential developments.
One of the fund’s projects in progress is a mixed-use building on 2.0 ha across from office property Business Park Sofia. The development is due for completion in 20-22 months.
The fund has on the drawing board a holiday village near Black Sea resort town Sozopol. It has bought a 3.0 ha land plot for the project. -
2 New Postes Will Open In Chepelare
Category: TourismChepelare is the new hit for the Bulgarian ski lovers. The resort in the Rodope mountain offer the cheapest lift passes, nice pistes, and cosy hotels with a total number of 1500 beds. The season in Chepelare opens tomorrow. The most expensive double room in the resort costs 50 BGN. The average price per bed is 15 BGN. The prices of the food in the restaurants during the high season will be the same as the prices in an average restaurant in Sofia and Smolyan for example.
The prices of the lift passes will be from 20- 25 BGN, announced Madankov, a head of the local association of hoteliers and restaurateurs in the town.
The capacity of the lift is 700 people per hour and the 1200 meters long drug lift has a capacity of 400 people per hour. -
Ski Fans Went Wild Riding in Bansko
Category: TourismThe off-piste snow conditions in Bansko offered excellent "rideable" terrain for this year's Wild Ride 2006 contest.
The event, traditionally held in Basnko, gives the riders a unique opportunity to access the amazing Pirin Mountain Freeride area.
Wild Ride 2006 is supported by BEFSA (Bulgarian Extreme and Freeskiing Association).
The Telemark World Champion and Red Bull rider Robby Brackenhofer from Germany took on the duties of Head Judge on the performances of 60 skiers and snowboarders.
The event has stirred great interest among riders and spectators, as well as among international and local media. "Powder" and "Skiing" magazines have already published big articles about Bulgaria, Bansko and the freeriding scene. "Poachers", an European freeride mag, issued a cover from Bansko.
The National Big Mountain Championship is a part of The Mad Goat Ride 2006 - Free Spirit Week. -
7 million euro - and Zmeyovo becomes a world attraction
Category: General newsThe Zmeyovo project at the amount of 7 million Euro is one of the first eco-tourist attraction applying on the principle of the public and private partnership. The project is a priority principle in the European Union’s regional stimulation strategy. For the support of such a project, a Municipality on the one part, and on the other part - a private investor or a non-governmental organization have to take part in its realization.
“We still do not want to reveal in details the attractions that will be built near Zmeyovo. We shall do this after the project’s approval.” – said Tanya Videva, the Chairperson of the Regional Tourism Association in Stara Zagora. The eco paths will run from the Zmeyovo holes to the very Valley of the Thracian Kings in the region of Yagoda village, and the megalith near Buzovgrad, reaching Miruley peak – the highest one in that part of Sredna Gora. There will be paths for pedestrians, horse riders and bicyclists. The renting of horses or bicycles will be possible.
The initiators of the project do believe that it will foster the initiative in the region. -
Ski instructors in Pamporovo carry snow with blankets
Category: TourismThe ski instructors in Pamporovo are trying to save the season. After working time, they carry snow on blankets and spades to the snowless parts of the working racing tracks. The tow-lifts of the low parts are mounted on the peak, and now three of them can be used on Snejanka, instead of only one. The white sports training shall also be transferred there. Despite the lack of snow, there is 20-cm snow cover on the high parts. Every single moment of appropriate minus temperatures is used for working with the five equipments for artificial snow, which is evenly spread over the route.
The trampled snow on the north ground near “Malina”, at the beginning of the old one-seat lift also satisfies only the beginners. There is no refusal of reservations – said Lyubomir Sankiiski - Director of the ski school. The latest transfer of 2000 tourists, most of them Irishmen and Englishmen arrived during the weekend. The beginners are satisfied with the good professional qualification and the approach of the ski instructors. The usual ski vacation of the foreigners lasts for 6 days. Only few of them would rather go on excursions instead of skiing. They take great interest in traveling to the Trigrad gorge with viewing of the caves and stopping in Shiroka Laka - the village-reserve for old Rhodopes architecture. -
Closed Complexes and Satellites - A Residence Trend
Category: General newsA Lithuanian company starts construction of a “a city within the city” in Sofia, for the amount of 500€ million. It will build a multi-functional center comprising of residences, offices and parking lots on the site of the former factory “Balkancar – 6 September”, on area of 200 decares. The total area of the complex will be 750 thousand square meters. In the trade center, there will be a hypermarket, places for rest and places of entertainment, restaurants, cinemas, bowling and a skating-rink. The offices will be situated in a center with a 30-storey panoramic tower. The residences will be situated in separate buildings. The construction will be executed by stages. The first one will be fulfilled for the period 2007-2009. The company has received a first class investor certificate.
An Estonian company starts the construction of a town of approximately 300 one-family houses, in the Sofia village Kladnitsa, on the south mountainside of Vitosha. The infrastructure is finished and the building works will soon be started. The investment will amount to more than 70€ million Euro. The area where the town is being built is 400 decares big. The project envisages 12 types of houses with area between 180 and 330 square meters together with the garages and verandas. The town will have two public buildings of 2,5 thousand square meters each, with a nursery school, a restaurant with a bar, a supermarket, shops and offices. Besides that complex, the company has the intention to design three more similar housing projects and two techno parks.
A businessman from Silistra announced before the Municipality that he would build a housing complex there, on area of nearly 40 decares, near the Danube River. The complex will comprise of 40 houses and 330 apartments. The investment will amount to more than 15€ million. The transformation of the present “Parvi Mai” mill is also envisaged in the complex. -
Malls and residential complexes spring like mushrooms in 2007
Category: General newsThe construction of an industrial park on a piece of land near the future Danube Bridge 2 will be one of the greatest investments in Vidin, amounting to approximately 70€ million. The plot has already been bought from the Municipality and the construction works, financed by Italian funds, are to begin this year.
The construction of Business Park Varna - the most contemporary high-technology complex in the country - continues during 2007. Fifty million euros will be invested in the complex. It will comprise 9 buildings situated on total area of 67 000 square meters.
A major American company will invest 200€ million near Sofia Airport. The complex will comprise of multi-functional business center with office buildings, logistics base, storehouse areas and a hotel. “Sofia Airport Center” will be constructed on 300 meters’ distance from the Airport’s new terminal, on a lot of 100 decares. The building works will begin during the spring and they are to be completed in a 5 years’ term.
Another development company plans building of an original supplement to “Business Park Sofia”. The new project will be located in immediate proximity of “Business Park Sofia”, as well as near “Residential Park”, which is now being constructed on the ring-road. -
Skyscraper to Be Built on Bourgas Beach
Category: Property newsThe first skyscraper in Bulgaria will be built on the Bourgas beach, Standart learnt.
The 150-meter high building will be built by Bourgas businessman Vaklin Stoinovski.
The project is already finished and the soil tests came out several days ago.
The tests show that the Northern beach of Bourgas, southeastern Bulgaria, is the most suitable for such a high building.
The skyscraper will be built on the place of the popular tavern Vodenitsata - The Mill, which is Stoinovski's property. -
Highway to Link Danube to Greece
Category: General newsOne of Bulgaria's priorities is to build a highway connecting Thessalonica, Sofia and the Danube cities of Vidin and Lom (Bulgaria) before 2013. So reads a chapter in a joint declaration signed by ministers of transport Peter Mutafchiev (Bulgaria) and Mihalis Liapis (Greece). The ministers also agreed to step up the development of Pan-European transport corridors 4 and 10, improve the railway link between Thessaloniki and Sofia, increase personnel at the border checkpoints of the two countries and liberalize regular bus lines connecting Bulgaria and Greece. In a joint declaration the parties committed themselves to launch a direct train Sofia-Athens and schedule more flights connecting two major Balkan capitals.
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Bulgaria's residential complexes trendy
Category: Property newsResidential property prices in Bulgaria might increase by more than 70 per cent in the next five years as a result of the country’s European Union entry, experts from UK real estate agency Simpligroup said.
The agency gives the example of Spain, where residential property prices have grown by 800 per cent since the country joined the EU. A similar development, though on a smaller scale, is expected in Bulgaria.
The number of British entrepreneurs willing to invest in real estate in Bulgaria is growing, Downham said in the Bulgarian-language daily Pari. Investments in the future will be concentrated mainly in infrastructure and agricultural regions, according to Simpligroup.
But this projection contradicts the forecast often given by Bulgarian real estate experts who believe the country’s EU entry has already had its effect on the local real estate market.