Brand new house in old traditional Bulgarian style - ID 2741

Illegal Constructions Taken Down In Bulgaria 14/03/2008
For the first six months of 2006, 195 illegal constructions in Bulgaria have been taken down, the Directorate for National Construction Control said. The directorate ordered the taking down of 605 illegal construction and the halting of construction work on 235 more. Bulgarian news agency BTA reported that the directorate performed 4722 construction inspections in the first half of 2006. The inspections aimed at confirming the legality of construction works. Violations were registered in 1482 cases. For the same period, the directorate collected 1.69 million leva in the form of fines enforced previously, BTA reported. more

Arco Invest Seals 8.1m Euro Deal For Apartments In Madrid Project 14/03/2008
Arco Invest Ltd, a subsidiary of Tallinn Stock Exchange-listed Arco Vara group, has closed a deal worth 8.1 million euro with Cleves Ltd for the sale of 45 unfinished apartments and 60 parking spaces in its Madrid project, the company said on its website on March 10. Arco will receive a 30 per cent down payment within 10 days and the remaining 70 per cent are due on receiving the habitation certificate. The buyer, English company Cleves Ltd, deals in luxury rentals and has announced plans to acquire a portfolio of about 200 high-profile apartments in prime locations in Sofia, earmarking 40 million euro to that end. The company has so far invested 33 million euro in more than 150 residential units, including in the Embassy Suites on Bulgaria boulevard, as well as the Este Home and... more