Bulgaria Cheap Properties

A sports and entertainment hall with a trade and service centre is to be built in the city of Rousse. The project included the construction of a multifunctional hall and mall with shops, offices and a hotel, investor.bg reported. The sports hall alone will cover a builtup area of nearly 24 530 sq m. The mall, the hotel and the underground parking will total 72 300 sq m. The project will be completed within two years.

Big infrastructure projects, including a new underground railway line, are to turn Sofias northern part into an attractive area for business and living. Large parks, sports and entertainment, residential developments, as well as production and logistic facilities would be constructed in the region in the next seven or eight years, Pari daily reported. Investors are already realising the potential of the northern

Golf Club Ibar, an investor in the Golf Club Ibar complex in the Bulgarian town of Dolna Banya, has received a first class investment certificate for its second golf complex in the country. The Ibar 2 project would be worth 106.5 million leva and constitute part of a wider plan for the economic development of Dolna Banya municipality, investor.bg reported. The project envisions an 18hole golf course named Bears

The number of shopping centres outside Sofia is on the rise, Index Imoti reported. Five such projects have already sprung up in Varna, one of which is under construction. Plovdiv, Stara Zagora, Rousse, Vidin and Bansko are also planned for their first shopping malls. In Sofia, retail space in shopping centres rent for 2555 euro per sq m. In Varna they cost 2060 euro per sq m, and 950 euro per sq m is the

The volume of tourists traveling to Bulgaria this year is expected to increase from 2006 figures, but revenue is expected to diminish. The decrease in revenue may cause a crisis in the tourism sector, said chairman of the National Tourism Board NTB, Georgi Gergov. According to him, the decrease can be attributed to chaos in the tourism sector, a lack of control and uneven allocation of funds, according to Pari Daily.The bulk of investments are made in coastal resorts, where supply exceeds demand,

Serious traffic problems in the coastal city of Varna mean that a new zoning plan for the city is urgently needed, municipal council head Borislav Gutsanov said. The plan will be completed and approved within a year. According to Gutsanov, the plan will set out what type of buildings may be constructed in the various zones of the city, so ending construction chaos.The new zoning plan will include the re

Bulgarias coastal city of Varna will see the construction of a shopping mall worth 85million leva. The development will have 12storey towers, 70m high, and will be a mixed trade, entertainment and administrative centre, investor.bg reported. It will cover a 70 000 sq m gross builtup area. Once built, Mall Varna Towers will be the highest building in Varna. The mall will have also cinemas, bowling, restaurants

Increasingly, Bulgarian banks are setting up their own real estate agencies. These agencies will cater directly to mortgage borrowers, according to Dnevnik. Bankowned agencies can offer homebuyers incentives unavailable elsewhere. They also provide legal advice, insurance and leasing options. Raiffeisenbank Bulgaria, Postbank, UniCredit Bulbank, Bulgarian American Credit Bank BACB and Piraeus

Major investors plan to construct residential complexes in the northern suburbs of Sofia. Sofia chief architect the equivalent of a city planner Petar Dikov was to present the idea to the Sofia Municipal Council SMC, 24 Chassa daily reported. Dikov said that his idea was that SMC define the territories for longterm development. Companies that build in the selected areas would have to undertake to construct

Belgian company Bel Elin plans to construct a villa settlement near the town of Tryavna. The initial investment would be worth two million euro, investor.bg said. The villa settlement will cover 20 000 sq m and will include 13 houses, a shop, restaurant, swimming pool and other facilities. Construction had already begun, investor said. Two old houses were being repaired and the restaurant was being built. The