Property Not Far From Sea - ID 1971

Albena Resort Operator To Build New Gated Community 05/06/2008
Albena, the operator of the eponymous resort, turned the first sod to Rila Estate, a gated residential community in the Byalata Lagouna (White Lagoon) resort, the company’s spokesperson Yovka Strashilova told Dnevnik daily. Byalata Lagouna, a resort adjoining Balchik, on the northern Black Sea, is known for its mineral thermal springs and curative mud. The complex, to be located on the front beach line, would occupy 21 000 sq m. The first phase alone is estimated to cost 15 million leva. Part of the dwellings have already been marketed to Russian and Romanian investors. Albena is currently conducting fortification works at the site. The start of the project represents a reversal of Albena’s 2007 plans. The resort operator intended to sell Byalata Lagouna last summer, however, it... more

Africa Israel Purchases 76.5 Million Euro Real Estate In Bulgarias Varna 11/03/2008
Israeli conglomerate Africa Israel Investments has bought land with office buildings in Bulgaria’s Black Sea coastal city of Varna, a company official said. For 76.5 million euro, Africa Israel bought the existing buildings and the right to construct other buildings in the future. Africa Israel Investments’ business development manager Akiva Azulay told SeeNews that “It is a big plot and part of it is built and the other part we are going to develop.” The company is controlled by billionaire Lev Leviev and operates in the real estate, energy, hotel services and infrastructure sectors. The company also has a commercial project and two residential developments in Sofia. more