Construction Work In Albena To Stop For Indefinite Time 15/06/2008
Resort operator Albena AD would stop construction work in the Black Sea resort with the same name in the upcoming several years, Dnevnik daily reported, quoting CEO Krassimir Stanev. The decision, made during a shareholders meeting held on June 14, was provoked by the fact that many of the hotels in the resort needed to be torn down as being outdated and architecturally unattractive, Stanev was quoted as saying. Moreover, even the hotels built in recent years did not fit the already established architectural pattern, Stanev said. Even one of the newest additions, the five-star Flamingo Hotel with luxury suites and studios, appeared as an out-of-place patch, he said. Construction work will resume only when a general development plan for the resort is approved, as the company intends... more

Investments In Bulgaria Direct Towards Energetics In 2008 21/04/2008
According to yearly inquiry of National Statistic Institute (NSI), researching the investment plans of industry in 2008, a common nominal increasing of 1.4 % is expected during this year, compared to 2007. The inquiry is representative for the country as the observed enterprises form 90% of the industry yearly turnover. The share of private sector reaches 78.7% of the common capacity for 2008. The industry investments dynamics for 2008 points big differences between private and public sector. The private sector's managers preview 3.5% less investments than the made in 2007, as the public sector expects rise with 24.6%. The biggest relative share (38.8%) of the expected investments for 2008 goes to the energetic and water plants branches, second in previewed amount of investments... more

Spanish Experts To Help With Infrastructural Projects In Rousse 14/03/2008
Rousse mayor Bozhidar Yotov met with Spanish ambassador Fernando Arias to discuss the projects eligible for European Union financing on March 11. This was Ares' second visit to Rousse in two months. The priority infrastructure projects for the city hall are the modernisation of the roads network in Rousse region, as well as construction of sewerage and water-purification plants. Spanish experts will help Rousse Municipality with drafting projects for EU funding. Three specific projects were discussed, starting with the construction of a road by-pass south of the city, which would be part of the Bucharest-Sofia route and European transport corridor IX. The road to Bucharest now passes through the city downtown and building a by-pass would cost about 250 million euro. The two... more

Interest In Bulgarias Larger Property Decreases 12/03/2008
The interest in the purchase of three-bedroom apartments in Bulgaria was decreasing, property market analysis for the past several months showed. Two main reasons led to the trend, 24 Chassa newspaper reported. Prices of such apartments remained high and at the same time market supply has not increased. In the end of past year the interest in the purchase of three-bedroom apartments went up. Property agents said that Bulgarians were still lacking the income needed for the maintenance of larger apartments, though. Agents said that most people looked for two-bedroom apartments. Interest in the purchase of three-bedroom apartments in the bigger Sofia districts decreased on the average between six and 15 per cent, 24 Chassa reported. Demand in the central part of Sofia decreased... more

Dounav Mall Breaks Ground March 20 19/03/2008
Dounav (Danube) mall project, the first shopping centre in Rousse, designed in line with International Council of Shopping Centres (ICSC) standards, will break ground on March 20, its developer Marmeg said. Marmeg, owned by businessmen Ventsislav Rachev and Dimitur Dimitrov, will invest 15 million euro in the project. The company was set up expressly to build the mall. Foros real estate is the exclusive agent of the commercial complex, which was designed by Georgi Stefanov. Financing has been secured from the Austrian Hypo-Alpe-Adria Leasing through a 12-year leasing contract. Currently, this is the company’s largest project in Bulgaria. The firm, which sees Rousse as a town with a good potential for growth and a favourable business environment, is negotiating with the municipality... more