House for sale near Varna - ID 3781

Benchmark Fund Imoti Reit Secures 26.5m Euro In Bank Loans - Sophia Echo 14/07/2008
Bulgarian real estate investment trust (REIT) BenchMark Fund Imoti has agreed credit lines worth a total 26.5 million euro with the National Bank of Greece and United Bulgarian Bank, part of the NBG Group. The loans should be used within the next two years. The 25 million euro loan from NBG has an eight-year maturity, while the 1.5 million euro loan from UBB matures in 2011. The loans were secured with real estate mortgages and a special pledge on company assets. The REIT said it would use the borrowed funds to finance four investment projects - two office buildings in Sofia, vacation and residential developments in the ski resort of Borovets and a sports facility in Kyustendil. Three of the projects have a combined price tag of 40 mln euro, which means that the remainder will come... more

Property Companies To Appeal Construction Ban In Bulgarias Irakli 14/03/2008
Swiss Properties would appeal the decision of the Environment and Water Affairs Ministry to ban construction in Irakli coastal region for one year, company managing director Stoyan Zahariev said. The company already purchased plots and finalised a project, mediapool.bg reported. Environment and Water Affairs Minister Djevdet Chakurov approved the ban since Irakli was one of the last remaining wild beach areas in Bulgaria. The ban was tabled in Parliament under pressure from NGOs and ecological organisations. Swiss Properties planned to construct vacation houses and apartments in Irakli, mediapool.bg reported. Nessebar mayor Nikolai Trifonov said he had not seen the ban yet though it was going to affect municipal decisions. The municipal architect is the person to issue... more