plot in Sunny beach - ID 4076

Consultancy Firm Hints At Litigation With Lewis Charles Sofia Property Fund 31/03/2008
On March 27, UK-based real estate consultancy Emerging Markets Understood Ltd (EMU) has hinted it would take Lewis Charles Sofia Property Fund (LCSPF) to court over missed payments and loss of profits after the relationship between the two parties broke down over a Bulgarian project. In April 2007, EMU was assigned to sell approximately 450 apartments in the Vitosha and Krustova Vada districts of Sofia by LCSPF chairman, Lord Philip Howard of Penrith, EMU said in a statement on its website. EMU were required to deal directly with BuySell, the building company charged with the construction and delivery of the project, which turned out very poor and with over-stated building costs, EMU managing director Simon Feek claimed. BuySell also provided EMU with no building specifications and... more

Equest Divests Of Former Serdika Hotel 18/05/2008
Days after real estate investment trust Equest Balkan Properties announced that it would sell some of its assets in Bulgaria and other neighbouring countries, it announced that it had sold the former Hotel Serdika to Uniqa Real Estate, the real estate subsidiary of Austrian insurer Uniqa, Dnevnik daily reported on May 15. Equest managing partner Georgi Kroumov confirmed the news but declined to specify the value of the transaction until the deal was finalised. This is Equest's second asset divestiture after City Center Sofia, a key shopping and entertainment complex in Bulgaria’s capital.   Although Uniqa Real Estate made an advance payment, the transaction was to be finalised only once the project for Serdika’s revamp acquired all necessary building permits, Kroumov said. The... more