Bulgarian Properties in Varna

Sofias Radisson Hotel Put For Sale Report 14/03/2008
Interhotel Grand Hotel Sofia, the company controlled by Henry Gwyn-Jones, is negotiating the sale of the 136-room Radisson SAS Grand Hotel, one of the six five-star hotels in Sofia, Dnevnik daily reported on March 6. Both foreign and local prospective buyers were interested in the hotel, the daily claimed. Gwyn-Jones refused to comment. Contacted by Pari Daily, Fernando Gruenberg Stern, general manager of Radisson SAS Grand Hotel, said that such talks are commonplace and could not influence the quality of services, provided by the hotel. One of the possible buyers, local businessman Georgi Gergov, confirmed for Dnevnik that he had been interested in the property at one point, but was not anymore. In 2006, the owners of the hotel announced plans for a 10 million euro investment in... more

Agricultural Land In Bulgaria Among The Cheapest In Eu 26/04/2008
The price of the agricultural land in Bulgaria remains among the cheapest in the European Union, shows the statistics of the Community. This announced Ognyan Kalev, executive director of “Agro Finance”. However, the trend since 2004 is the land in Bulgaria to get more expensive. The fragmentariness of the agricultural land in Bulgaria is among the main problems for its reduced value, explained Kalev. According to him, the market is however, dynamic and the proof is the 55% growth in the number of sales in 2006 and 36% growth in 2007. The demand is mainly targeting the bigger lots. There is a price difference depending on the land category and size. With Bulgaria's accession to the EU, the land market has become much more attractive, claimed Kalev. He pointed also out that... more

Agriculture Is The Riskiest Sector For A Fourth Consecutive Year 14/03/2008
A total of 240 Bulgarian companies registered for  bankruptcy last year, which is a 31 per cent mark-up on the previous year, according to the regular report of Coface, a world leading company in credit management. The agriculture and forestry sector heads the ranking, accounting for 22.5 per cent of declared insolvencies. Next comes the retail trade – accounting for 15.83 per cent – and then comes the construction industry with 6.25 per cent. The building sector is among the top three most hazardous industries in Bulgaria. Hence, it's expected  that the number of bankruptcies will rise by 50 per cent in 2008, primarily due to ongoing massive unsound investment in holiday properties along the Black Sea coast and in the mountains, said Kamelia Popova, managing director in Coface.... more

Serbias Delta Maxi To Open 10 Stores In Bulgaria 08/05/2008
By the end of the year Serbian Delta Maxi plans to open 10 new supermarkets in Bulgaria, as part of its regional expansion campaign, Serbian broadcaster B92 reported. Delta Maxi bought a majority stake in Bulgarian retail chain Piccadilly last year, at which point its CEO Dragan Filipovic said the company would invest 70 million euro in Bulgaria over the next two years. The group plans to open 10 new commercial sites in Serbia, eight in Montenegro and five in Bosnia and Herzegovina. The company also plans to set foot in Albania, Macedonia and Ukraine. In Serbia, Delta Maxi dominates the market with more than 360 supermarkets and stores countrywide, reporting revenues of 900 million euro last year, B92 said. Its majority shareholder, Delta Holding is the country's largest private... more

Fairplay Properties Reit Distributes 8m Leva As Dividend 28/03/2008
At their annual meeting on 25 March, the shareholders of FairPlay Properties Real Estate Investment Trust (REIT) decided to distribute eight million leva of the company’s profit for 2007 as dividend, the company said in a statement. The general meeting also elected a new board of directors with members Manyu Moravenov, Ivailo Panov and Svetoslav Soltariev. The REIT has invested 96 million leva (excluding value-added tax) by December 31 2007 and has concluded sales contracts to the value of 34.5 million leva in 2007, according to the company’s annual report. The fund reported a profit of 11.13 million leva in 2007 and its sales revenues stood at 43.3 million leva (VAT excluded). FairPlay Properties’ executives forecast that the company’s revenue in 2008 will total 42.46 million leva,... more