Q1 2007 Construction Permits Number Down 24/05/2008
Bulgarian authorities have issued 3505 construction permits in the first quarter of 2008, a decrease of nearly 25 per cent over the previous three months, data from the National Statistical Institute data showed on May 21. Residential developments continued to account for the largest share of the total, with 2267 permits granted for total area of area of 1.6 million sq m, compared with 2884 permits for 2.4 million sq m in the previous quarter. The number of permits for administrative buildings went down to 78 from 145. Bourgas region received the largest number of permits for a third quarter running, although the figure nearly halved at 465, compared with 875 in October-January 2007. Varna saw the number of permits drop from 516 to 364, in Sofia the decrease was 406 to 342 and in... more

Invasion Of The Trade Snatchers 14/03/2008
After an avalanche of investment in shopping centres in Sofia, Varna and Plovdiv, another trend has emerged. Entrepreneurs targeted smaller regional urban centres where markets have not yet reached the maturity of the "big three". Realtors have one simple rule for malls: one large shopping centre is viable for every 100 000 residents in an urban area, including cities, nearby towns and villages. Subsequently, "Location, location, location", real estate's all-important maxim, becomes paramount. Most experts agree that projects in the three big cities have reached saturation point. If all planned shopping centres in Varna materialise, then the market will be unable to absorb all the retail space, according to Foros' real estate agency analysis.  Foros' managing director,... more

First Tourists For Summer 2008 Season Land In Bourgas 01/04/2008
The first group of 74 foreign tourists for the new summer season arrived at Bourgas airport aboard a low-cost Sterling airlines plane from Copenhagen on March 30, Bourgas city hall said in a statement. After receiving a hearty welcome at the airport, they continued to their destination, the Slunchev Bryag (Sunny Beach) resort. The airports in Bulgaria's Black Sea cities of Varna and Bourgas processed more than 3.4 million passengers last year, according to data provided by Germany's Fraport, which owns the majority stake in the company that holds a 35-year concession on the two airports. Bourgas airport processed a record-high 1.95 million passengers in 2007, a 7.3 per cent increase year-on-year, whereas Varna's 1.5 million passengers showed a 2.6 per cent drop from the... more