Uk Fund Invests In Holiday Village Near Bulgarias Bansko 13/03/2008
UK investment fund Lewis Charles Sofia Property Fund will provide finance for the construction of a holiday village near the village of Banya, not far from the Bulgarian ski resort of Bansko. The fund already signed a contract with Bulgarian Winslow Developments to regulate and develop the project, Bulgarian National Radio (BNR) reported. The project in Banya envisages holiday village including tennis courts, pools, spa centres, a restaurant and bars. The deal will generate earnings of nearly 113 million euro, Winslow Developments said. The company operates on the real estate market and so far implemented several projects in Bansko. In July 2006 Winslow developments set up a joint venture with the investment fund of Deutsche Bank, PREEF aiming to develop a project for the... more

Loan History Matters In Bulgaria 19/03/2008
Entry to the EuropeanUnion has reverberated across a number of sectors. However, it has hada limited impact on a phenomenon that has persisted throughout the pastfew years. Fast expansion in the loans market has seen Bulgaria’s loanexposure reach the levels of the rest of Europe, a recent report said.Yet it also said that Bulgarians have half the income other Europeansdo, which immediately casts doubt on the ability of Bulgarians to repaytheir loans. In addition, banks’ portfolios have become too dependenton loans, the average percentage in commercial banks’ assets being, atabout 70 per cent, past the tentative ceiling of 50 per cent. Thesituation prompted Bulgarian National Bank (BNB) to raise the share ofmandatory reserves commercial banks hold with the central bank fromeight to 12... more

Kozloduy Nuclear Power Plant To Build Villa Community 11/04/2008
Kozloduy nuclear power plant will build a villa community in the Black Sea village of Kranevo, Dnevnik daily reported on April 9. The company already called a public procurement to design and build the community. The new development, to be built next to an existing vacation complex owned by the nuclear power plant, will be carried out in three phases. Eligible candidates can be both Bulgarian and foreign companies, which are members of Bulgaria's engineers and architects chamber. The companies must prove that they are financially sound and have the necessary staff to perform the tender, Dnevnik said. The participation guarantee is 20 000 leva or five per cent of the project's value. The deadline to submit bids is May 7, with offers to be opened on May 9. The villa community... more