Rousse Holiday Property Market Losing Appeal 10/03/2008
Foreign interest in holiday properties in Rousse region has stalled because prices have soared immensely and available properties have lost their attractiveness, with the market is suffering a lack of retail space in Rousse’s downtown, investor.bg reported on March 4 2008.   Plots designated for construction of holiday houses command similar values in neighbouring municipalities: in Byala they score 21 euro a sq m, in Ivanovo – 24.5 euro a sq m, in Vetovo – 20 euro, in Dve mogili – 23 euro and in the villages around Rousse they fluctuate between 20 and 25 euro a sq m. At the same time, there is a shortage of commercial developments in the city centre, where most available properties were small and located in old buildings. Prices hover in the 1 800-2 000 euro a sq m range. Retail... more

Spanish Developer With Project In Sofia Files For Bankruptcy Protection 17/07/2008
Martinsa-Fadesa SA, the largest Spanish developer with a residential project in Sofia, has sought bankruptcy protection, Bloomberg agency reported as quoted by website investor.bg.With the 10-year real estate boom in Spain beginning to die down, more companies fail to secure a loan for refinancing old debts. What makes it harder for developers to pay their debts is the sharp decrease in home sales in addition to rising borrowing costs, the agency said.Martinsa has a total of 5.2 billion euro in debt, which accounts to investments in houses, holiday resorts, golf courses and shopping malls. At the end of June, the company's assets were valued at 10.8 billion euro, down from 13 billion a year ago, Bloomberg reported.The Spanish developer failed to obtain 150 million euro loan with which... more

New Logistics Centre To Be Built Near Varna 28/08/2008
The construction of a new logistics centre has begun near Slunchevo village, in Aksakovo municipality near Varna, Stroitelstvo Gradut weekly has reported.The facility will be within a strategic proximity to Hemus Highway and Varna airport, and will have both industrial and storage functions, occupying a land plot of 6500 sq m.Investor is Izgrev Ltd, a company specialising in the building of industrial and storage complex, while the design is done by architect Kalina Pavlova. The centre will be built by the Varna-based company Sgradostroene Ltd and Strimona Ltd from Petrich.In July, the first construction stage began with the building of Izgrev I, an industrial-depository base, which will consist of six halls, occupying a total of 4100 sq m. The project also envisions the construction... more