Bulgaria To Demolish 57 Illegal Buildings On Seaside 10/03/2008
Bulgaria's Directorate for National Construction Supervision (DNCS), which started inspecting the legality of completed and ongoing construction along the Black Sea coastline on February 25, has already issued orders for the demolition of 57 units. Twenty five of them are on the north coastline and 32 are along the southern coast, the institution announced on its website. Аccording to the Spatial Planning of the Bulgarian Black Sea Coastline Act, which entered into force on January 1 2008, all entities erecting illegal constructions on the beaches were obliged to voluntarily demolish them within a month of the law coming into effect. If they failed to do so, DNCS would order the demolition of the buildings. Two inspecting expert panels from the DNCS will be checking... more

127 Million Euros Funds Granted To Bulgaria 19/03/2008
After entering the European Union and now being a full member of the European community, Bulgaria is about to receive 11 Billions Euros for regional development for the period 2007 - 2013. The largest part of the European funds will be allocated by the Bulgarian Ministry of the Regional Development. The allocating of the money, the choosing of appropriate projects and their implementation will be controlled by the Direction for "Programming and Regional Developments". The State Tourism Agency will receive only 15 % of the sum and it will be for national tourism marketing. Nearly 177 million Euros (which equals to 13 % of 1, 4 milliard EUR granted for regional development) are allotted for the Bulgarian tourism development. Together with another 15 % co-financiering by the budget, the... more

Russian Company Builds A Residential Complex At Bulgarian Seaside 27/03/2008
Russian holding Etalon-Len-Spets SMU (ELS), specialising primarily in residential construction, started its international expansion through a 30 million-dollar investment in a housing complex in Bulgaria, Property Xpress reported. The holding’s first project beyond Russia envisages the development of a luxury condominium near the Black Sea resort of Zlatni Pyassutsi (Golden Sands).Finance will be secured through foreign non-Russian banks. The gross actual area of the complex is projected to be 22 000 sq m. Apart from residential buildings, it will also embrace parking grounds and green areas. Construction is scheduled for completion by mid-2009 at the latest. ELS’s executives reckon that investment in housing compounds along Bulgaria’s coast is currently among  the most lucrative of... more

Danube Bridge 2 Construction Delayed By Four Months 15/03/2008
Construction on the second bridge across the Danube river between Bulgaria and Romania would be delayed by four months to September 2008, Bulgarian radio station Darik reported on February 19 2008. The reason for the delay of the project that would link Vidin in Bulgaria to Calafat in Romania, known as Danube Bridge 2, was that Spanish construction firm Fomento de Construcciones y Contratas (FCC) had not filed its technical project with the Ministry of Regional Development and Public Works, from the Ministry claim, Darik quoted the ministry as saying. However, Simeon Evtimov, in charge of project development at the Transport Ministry, argued that since the project has already received a construction permit, that meant that all required technical paperwork had been filed. "FCC... more

Bulgarian Pm Backtracks On Golf Promotion Firm 10/03/2008
Bulgarian Prime Minister Sergei Stanishev has rolled back the plans to set up a state-owned company that would design, build and operate golf courses in the country, Dnevnik daily reported on February 10 2008. The proposal, passed by the Cabinet last week, was tabled by regional development minister Assen Gagaouzov and voted even though the interdepartmental working group had not agreed on it, Dnevnik daily claimed. The Government considers golf tourism important, but it should be part of a wider strategy for the tourism sector, Stanishev was quoted as saying. At its meeting on February 7, the Cabinet approved the proposal to set up the firm, which would be endowed with 12 plots of land near Balchik on the Black Sea coast, valued at 9.1 million leva. The land is now used by the... more