Sofia City Hall To Ban Construction In Studentski Grad 01/07/2008
Construction in Studentski Grad (Students' town) borough will come to a complete halt in a matter of several weeks, Monitor daily reported, based on Sofia mayor Boiko Borissov and chief architect Petar Dikov's intentions to issue an ordinance to ban further construction of the area. It is quite possible that this will be a temporary solution, and, as of now, it not clear when the ordinance would be implemented or how long it would be in effect, Monitor daily said. A random check in Studentski grad done by the newspaper in March revealed that there were close to 60 projects in the works and just as many planned to begin in the near future. In May, Education Minister Daniel Vulchev called for a complete ban of all construction going in the area, because when the initial idea of... more

Bulgarians Shift Preferences To Spa Resorts 02/04/2008
Middle-aged Bulgarians have embraced the philosophy of healthy living and recreation, increasingly opting for spa-resort vacations, according to the monthly survey of the tourist website travel.bg. The quality and variety of offered spa services, not prices, are the key decision-making factors for Bulgarians choosing a hotel, according to the research. The price of 100 leva a day, charged for an overnight stay in a four-star hotel with spa procedures included, is considered a reasonable tourist package offer. Sandanski was March’s most popular destination among Bulgarian vacationers, according to the website’s statistics. A five-day holiday in Sandanski, including two meals a day and spa procedures, can be booked for 500 leva. Offers for Hissarya rank second in terms of tourist... more

Engel Fund Sells Sofia Development For 7.5m Euro 14/03/2008
Investment fund Engel East Europe NV is close to finalising the sale of Panorama residential complex in Sofia's Vitosha borough, investor.bg web site reported on March 12, quoting company sources. The buyer, which is expected to sign the deal soon, has remained unnamed. Engel representatives told investor.bg negotiations for the transaction has started in 2007 and a preliminary contract has been signed in November. The value of the deal is 7.5 million euro. So far Engel has received 75 000 euro. The deal provides for Engel to get 8 per cent from the complex' rental revenues. Engel's projects in Bulgaria are evaluated at 66 million euro. The fund manages a total of 694 residential units in several projects, 264 of them set for completion by the end of 2008. The... more

Promoting Bulgaria 19/03/2008
There are many ways - some traditional, some alternative - to promote Bulgaria as a tourist destination, with various original undertakings being demonstrated since the beginning of the month. The first to embark on a different approach was the national flag carrier Bulgaria Air, which on March 1 launched a series of initiatives to present Bulgaria to the world. The company management and Transport Minister Petar Mutafchiev announced the start of a project entitled The Spirit of Bulgaria on Board Bulgaria Air. On March 1, the Bulgaria Air planes were decorated with “martenitsi” - red and white tassels believed to bring health and good luck - that Bulgarians traditionally exchange on the date. All passengers were acquainted with the tradition and each given a martenitsa. However,... more

Sofia's European Trade Center To Become Bulgaria Largest Office 06/06/2008
The largest office center in Bulgaria, with a built-up area of 70 000 square meters worth EUR 70 M is going to open its doors in 2010 on the "Tzarigradsko Shosse" boulevard in Sofia, in the area known as the 7th Kilometer. The center called "European Trade Center" (ETC) currently represents almost 10% of all office projects in Sofia still in construction stage. ETC includes five office buildings with the highest one standing 65 meters toll and is part of the mega complex "Hermes Park". In addition to the office buildings, "Hermes Park" will also have a shopping mall with "Carefour Tzarigradsko", the biggest hypermarket of the French chain "Carrefour" in Bulgaria. The mall is to open by the fall of 2009. According to several media sources, including the daily newspaper "24 hours" the... more