Sofia's Radisson Hotel Put For Sale - Report 21/03/2008
Interhotel Grand Hotel Sofia, the company controlled by Henry Gwyn-Jones, is negotiating the sale of the 136-room Radisson SAS Grand Hotel, one of the six five-star hotels in Sofia, Dnevnik daily reported on March 6. Both foreign and local prospective buyers were interested in the hotel, the daily claimed. Gwyn-Jones refused to comment. Contacted by Pari Daily, Fernando Gruenberg Stern, general manager of Radisson SAS Grand Hotel, said that such talks are commonplace and could not influence the quality of services, provided by the hotel. One of the possible buyers, local businessman Georgi Gergov, confirmed for Dnevnik that he had been interested in the property at one point, but was not anymore. In 2006, the owners of the hotel announced plans for a 10 million euro... more

European Trade Center To Be Ready In 2010 04/06/2008
European Trade Center, an office complex whose construction is already underway on Tsarigradsko Chaussee in Sofia, would be completed in 2010 and should bring seven per cent return on investment, investors in the project told reporters on June 2, as quoted by Dnevnik daily. The complex would have a total built-up area of 70 000 sq m, making it one of the largest in Bulgaria and comprising a tenth of modern office space currently available on the market, Colliers International, the consultant of the project, said. The floorage of the five buildings in the complex would vary from 7 000 to 23 000 sq m. One of them would fall in the skyscraper category with a height of 65 m, chief architect of the complex Ilian Iliev said. All buildings would be built in line with high energy efficiency... more

Optimism High In Bulgaria 20/03/2008
Accession to the European Union is inevitably going to play a central role in the future of property investment in Bulgaria. Bulgarian property is already proving popular with investors looking for long-term capital growth, but there is no doubt that accession to the EU will encourage many more to purchase properties in the country with a view to capitalising on the extensive house price growth that will presumably ensue. The road to EU membership has certainly been a bumpy one for Bulgaria and reports on its progress have let officials know that there is still some work to do. Despite this, financial experts in the country are seemingly confident that everything is on track to join on January 1st next year. The implications for property investment could be immense. Speaking to the... more