Over 29 Of Bulgarias Property Deals Involve Foreign Investors 13/03/2008
Over 29 per cent of the property deals concluded in Bulgaria in 2006 involved foreign participation, executive director of real estate company Asta Bridge Anton Pankev said. Nearly 66.87 per cent of all foreigners who bought property in Bulgaria came from UK, he said as quoted by Bulgarian National Radio. The British interest was attributed to regular flights between Bulgaria and the UK. Irish investors concluded nearly 13 per cent of the property deals in 2006. Americans were involved in six per cent of the deals, Germans in four and Italians in three per cent. Data showed that 39.93 per cent of investors were interested in winter resort property, followed by sea resorts with 31.13 per cent. The capital of Sofia attracted 8.11 per cent of property buyers, Pankev said. UK... more

Orchid Convinced That Bulgaria Property Market Will Bloom. 20/03/2008
Losses have increased at Orchid Developments, a property and hotel operator specialising in Bulgaria, but the group says it exceeded expectations in its first set of results since it floated on AIM last July. Orchid (OCH) operates in commercial, residential and retail markets, and since the float has paid ВЂ21 million (ВЈ14.5 million) for three new development plots in Varna totalling around 38,000 square metres. It is continuing to develop its land bank and says land values are increasing rapidly. Five of OrchidВ’s projects are co-financed by the European Bank of Reconstruction and Development which has agreed a ВЂ30 million debt facility. This breaks new ground for the financing of real estate developments in Bulgaria, providing long-term funding that was not previously... more

Five New Natura 2000 Zones Up For Public Debate 14/03/2008
Minister of Environment and Water Affairs Djevdet Chakurov signed the draft ordinances for five protected zones in the Bulgarian part of the European environmental network Natura 2000, the ministry’s press service said. The ordinances concern the protected areas of Lomovete in Rousse municipality, Ribarnitsi Mechka (Fisheries Bear) in Rousse region, Central Balkan, Apriltsi near the cities Lovetch and Gabrovo, and Ostrov Vardim (Vardim Island) near Svishtov and Veliko Turnovo. Before going into force, the ordinances would be put up for public debate for one month, starting with February 21. During this time, anyone can submit their written statements, objections and proposals concerning the bans and restrictions on activities, as outlined in the draft, the ministry said. The full... more

Prime Property Bg To Invests 64m Euro In Plovdiv Business Park 25/03/2008
Local real estate investment trust (REIT) Prime Property BG will pour 64 million euro in the development of a business compound in Plovdiv’s Trakiya district, company officials said, as quoted by investor.bg. The future centre will spread on a 48 682 plot, comprising four- to five-storey buildings with office and retail outlets, underground parking, restaurants and supermarkets. The gross actual area of the complex is estimated at 110 000 sq m. Currently, the design of the business centre is still being developed, but it is expected to have functional built-to-suit edifices, i.e. their construction will comply with the requirements and needs of the future tenants, most of whom would be foreign companies, investor.bg said. The development is scheduled to open for business in 2011 and... more

State Agency For Tourism Initiates An Advertising Campaign Of Bulgarian Tourism In Russia 14/03/2008
Bulgaria's State Agency for Tourism will promote the country as a tourist destination to Russians. It has launched an advertising campaign, including 30-minute videos, to be broadcast on the Rossiya Channel and on Channel One in the Russian cities of Yekaterininburg, Irkutsk, Kazan, Krasnoyarsk, Novosibirsk, Samara, Ufa, Chelyabinsk, Kransnodar, Perm, Rostov-na-Don, Omsk - between February 18 and February 29. A second advertising campaign will take place in the same cities between May 5 and May 25. Three shorter videos will also be shown on the NTV and TVC channels in the Moscow region, St.Petersburg, Yekaterininburg, Novosibirsk, Samara and Rostov-na-Don. The State Agency for Tourism also plans similar advertising campaigns on the global channels of CNN, Euronews, and Eurosport.... more