week Of The Real Estate On The Balkans' Starts In Sofia 15/04/2008
‘Week of the Real Estate on the Balkans' is about to occur in Bulgaria's capital on April 14 - 20. The event starts with 2nd regional conference ‘Balkan Real Estate Conference - Bulgaria, Romania, Serbia' - BalREc, which will take place in Kempinski Hotel Zographski on April 15-16. The week continues with Balkan Property Exhibition - BalPEx - Spring 2008, the largest real estate exhibition on the Balkans that will start on April 18 till April 20 in Inter Expo and Congress Centre in Sofia, Bulgaria. The organizers aim to present platform for discussion between representatives of the participants of the real estates market on the Balkans - investors, consultants, financiers, architectures, urbanism specialists and others. Additional accent on the discussions will be placed... more

Municipal Councilors Delay Start Of Banya Golf Resort Project 25/03/2008
Karlovo mayor Naiden Naidenov and a number of municipal councillors are trying to delay businessman Hristo Kovachki’s project for the development of the town of Banya as a tourist destination, by insisting on his clarifying the origin and the volume of the investment, Dnevnik daily reported on March 24. The municipality and Banya Golf&Spa Resort company, controlled by Kovachki, set up the joint stock company Sporten Complex, with Karlovo town hall contributing 12ha of municipal land and the private enterprise pouring 15 million leva in the firm’s capital and committing to invest another 60 million euro in the construction of a multipurpose sports, golf and villa compound in Banya. In compliance with anti-money laundering regulations, the municipality is obliged to inform the Financial... more

Wrangles Over The Amendments To Bourgas Master Plan 02/04/2008
Bulgaria’s Ministry of Regional Development and Public Works will assign a new procedure for developing a new master plan of Bourgas, regional minister Assen Gagaouzov announced on March 31, quoted by Dnevnik daily. He explained that the new plan for urban development will add new territories to the municipality. Currently, the regional ministry has a public procurement contract with Atika R5, managed by architect Petko Yovchev, which has won the tender to pick a company to carry out the amendments to Bourgas master plan. However, architectural bureau Gevrenov and Stoev, the rival of Atika R5 in the contest, lodged a claim with the Supreme Administrative Court, also alerting the Commission for Protection of Competition. Gevrenov and Stoev insisted on revoking the public procurement,... more

Managing Director Of Emerging Markets Understood Ltd. On Bulgarias Luxury Sector 14/03/2008
Simon Feek, Managing Director of Emerging Markets Understood Ltd., appraises Bulgaria's luxury sector  "For real estate to be considered "luxurious", it must possess the following attributes: -Desirable location -High specification design (high building cost) -Well-planned facilities' management model (to maintain and service property) -Desirable "lifestyle services" (concierge, other hotel services, fitness, etc) -Desirable "options" - placing a personal stamp on the property such as bespoke kitchens, bathrooms or bedrooms. -Desirable price (this is usually above the market average, without being extortionate,  so demonstrating commitment to comfort). Most domestic buyers seem to believe - falsely - that "new" equals luxury. They should exercise care, particularly with... more

Winslow Gardens Turned First Sod On April 23 24/04/2008
The first sod was turned on the Winslow Gardens residential project in Sofia's Manastirski Livadi borough, investor.bg reported. With this, developer investment firm Winslow Developments, starts work on the first stage of the gated community, which will cost 105 million leva and is scheduled for completion in mid-2010. The complex, with an area exceeding 2 000 sq m, will embrace six low-rise buildings, housing 444 apartments, a two-level underground car park, a spa centre with a fitness hall and a 25-metre-long swimming pool, basketball and mini-football grounds and a 12 000 sq m park. Late last month, Winslow Developments announced it had sold 60 per cent of the apartments in Winslow Gardens off-plan. As previously reported, Winslow Development recently closed the tender for... more