Kroushouna Village To Invest 28 Million Leva In Recreational Facilities 15/03/2008
Local authorities would invest 28 million leva in the construction of a spa centre and three recreational centres in the village of Kroushouna, in Lovech region in northern Bulgaria, the mayor of Letnitsa municipality Krassimir Djonev said, as quoted by expert.bg. The village of Kroushouna has become a popular alternative tourism destination with the Vodopada (Waterfall) cave, which resembles a water labyrinth, just 800m south of the village. The area has an abundance of mineral water springs that have not been really used, Djonev said. Letnitsa municipality, of which the village is a part of, and Lovech-based holding company Litex Commerce, owned by businessman Grisha Ganchev, would set up a joint venture that would carry out the project. The municipality's contribution consisted... more

Bulgaria Import Exceeds The Export Over 50% 18/03/2008
The import of main trade partners to Bulgaria exceeds the export in the first month of 2008w with over 50%, preliminary data of National Statistical Institute shows. Bulgarian economy exported goods for 794 million BGN (397 million EUR), while meanwhile the imported goods are for 1,708 million BGN (850 million EUR). Highest is the export to Syria, followed by the Korean Republic, UAE and Singapore. Among the countries where the export is traditionally high are: Serbia, Russia, Macedonia, China, Georgia, UAE and Turkey. The import data for January show stable superiority over the Russians and Ukrainian than of the Chinese goods. more

The Real Estate Market Remains Major For Investors 07/10/2008
The major market for investors in the Bulgarian economy remains the real estate market and not the stock exchange.This was announced by Georgi Stoev from "Industry Watch" on "Darik Kafe". His forecast is that the segment of vacation properties is the one, which will be most affected by the financial crisis.According to Stoev, the people who save money in Bulgaria depend mostly on their homes as investment number one and investment number two is bank deposits. This raises the question about what will happen to the real estate market and the stability of the bank system in Bulgaria, Stoev said."The vacation properties market has always been and will always be a risky one. In a moment of liquidity crisis the first projects, which will be blocked or suspended will be the market of "second... more

Property Demand Goes Down While Prices Increase In Bulgaria 12/03/2008
Property prices in Bulgaria increased by 10 per cent since the beginning of 2007, CreditCenter consultancy company data showed. Residential property market was calm as a result of the high prices, Focus news agency said. The supply was significant, but prices were too high and failed to meet the standard of the property. Most Bulgarians took bank credits to purchase property, CreditCenter said. Bulgarians covered nearly 80 per cent of the value of the lodgings using a loan. This percentage is expected to reach 90 per cent by the end of 2007. Those who took credits selected them according to the interest rate and the term for receiving credits. more

Firms Compete For Ministerial Buildings Repairs 30/04/2008
Three candidates are vying to execute repair works on ministerial buildings, Investor.bg reported on April 25. The candidates have applied for participation under the Ministry of State Administration and Administrative Reform’s (MSAAR) public order “Repairs, constructions and installations works in buildings, holiday and recreational bases, developments and farms in Bulgaria”. The firms are as follows: Elitstroy 2005 EOOD, EKSA AD and the consortium BKK-Terakom, MSAAR said. In terms of weighing up their offers, the Ministry will consider the following issues: 60 per cent importance is given to the price the candidate offers, 20 per cent is given to the terms of execution of the work and the other remaining 20 per cent considers the experience and the reputation of the applicant... more