Turks Build The Biggest Mall In Sofia 26/04/2008
The Turkish construction company “Kaya” will be the implementor of the construction of the “Serdika Center” Mall in Sofia, informed citybuild.bg. The digging of the terrain has finished and the actual building is ready to start. “Serdika Center” will open in 2010. 70% of the trade areas are already taken and will be rented. The mall is being constructed in association with the Austrian investor "Sparkassen Immobilien AG" and the European market leader in the field of trade centers "ECE Projektmanagement". The total value of the investment in the modern trade complex is 210 M EUR. The mall will be situated on an area of 51 thousand sq. m, will have 3 levels, around 200 luxury shops and 35 thousand sq. m of offices. “Serdika Center” will be one of the biggest trade and business... more

Avoid Investing In Bulgaria Uk Consultants 10/03/2008
UK consultancy company TRI Investments warned potential real estate investors to avoid investing in European resorts such as those in Bulgaria, France and Italy. The warning came after companies’ shares fell on the real estate stock exchange in Madrid, citywire.co.uk said, as quoted investor.bg. TRI Investments managing director Chris Finch said that his company was initially enthusiastic about opportunities for investment in Bulgaria but afterwards found out that there was excessive construction along the Bulgarian Black sea coast. The same had happened in Spain, Finch said. Property tax valuation in Spanish resorts had been too high for years. TRI said that other European destinations could also face drops in their property markets because of a combination of high inflation,... more

Holiday Property Prices At Bulgarian Black Sea Coast Decrease 12/03/2008
The trend of the past four years of a steady increase in prices of holiday property at the Black Sea coast has started to drop off. Prices in the past three to four years initially increased by to 20 to 30 per cent and even 50 per cent in a year, but this had not been the case in 2007, investor.bg reported. The average price of bachelor flats and two-bedroom summer apartments in Sunny Beach dropped by four per cent between July 2006 and July 2007, according to a survey commissioned by investor.bg. A trend of falling holiday property prices has been evident in other southern Black Sea resorts in Bulgaria, including Ahtopol where prices of bachelor flats went down by five per cent and that of three-bedroom apartments by eight per cent. Other resorts where prices decreased were... more

New Budget Bulgarian Service 20/03/2008
Travellers looking for cheap flights to Eastern Europe are to get a boost with the launch of two new services from London to Bulgaria. Wizz Air will begin operating flights from Luton Airport to the Bulgarian capital Sofia four times weekly, as well as flights from Luton to Bourgas three times a week, from May 1. The new flights, which will cost as little as Ј42.46 including taxes and fees, were announced at a press conference at the Radisson Hotel Sofia last week, bulgaria-property.com reports. Bulgaria is proving a popular choice amongst Britons looking for a second home, and UK-based property companies have also moved quickly to develop in the country. James Knight, director of property firm Knight International, congratulated Wizz Air’s decision saying the ‘UK and Bulgaria have... more

Rapacious Investors Grab Bulgarias Dams 12/03/2008
Almost all the dams in Bulgaria became target for rapacious investors over the past years. In most cases, the banks of dam lakes are being built up without zoning plans, Pari daily reported. Not a single construction project in the vicinity of Bulgarian dams has a water purification system. Bulgarian legislation bans construction near dams. Kamchia and Yasna Polyana are among the dams affected by over-construction. These are the main water suppliers for a large area of the Black Sea region. Dospat dam has proven to be exceptionally attractive to investors. Plots in the area have been purchased and turned into holiday villages. According to predictions, the number of beds in the region will soon reach 5000. The situation is similar in Tsigov Chark. Most of region... more