Hotels In Sofia Deliver Higher Returns Than Malls, Offices Study 14/03/2008
Returns on investments in first-class hotels in Sofia were around 8.5 per cent at the end of 2007, thus outstripping the yields generated by office and retail developments, which ranged between 7.5 and 7.85 per cent, respectively, and equalling returns from logistic space, a recent analysis of CB Richard Ellis consultancy, showed on March 10. In terms of yields, Sofia ranked second after Moscow, where returns on hotel investments averaged 9.25 per cent, and was the best-performer among the capitals of the countries across Central and Eastern Europe (CEE). Despite the low occupancy, Moscow’s hotel segment is still very attractive, registering the highest levels of revenues fetched by an available room, an indicator called RevPAR, for 2007. Four and five star hotel rooms in the... more

British Tourists Pointed Towards Bulgaria 30/05/2008
British holidaymakers have been advised to consider travelling to Bulgaria by a national newspaper. According to the Times, the eastern European country offers a number of attractions which would appeal to the whole family. In addition, Bulgaria was said to be much more affordable than places such as Italy, Portugal, France and Spain. This is because the pound has slumped to a record low against the single European currency - falling by nearly a fifth in the last year. As a result, travelling to a country inside the eurozone may not offer the value for money Britons have enjoyed in the past. The Times commented: "It's been a bad year for the pound. "Last summer, a €20 meal would have set you back Ј14. Now it would be Ј16.50." By contrast, Bulgaria was said to offer... more

Bulgarian Land Development Buys 1.7m Euro Plot Near Sofia 14/03/2008
London-listed Bulgarian Land Development (BLD) fund acquired a 38 146 sq m plot near Sofia for 1.7 million euro, company officials said, as reported by investor.bg. BLD’s representatives refused to provide details on the exact location. The company plans to buy several neighbouring plots in the area, looking to expand its holdings to 60 000 sq m, which would then be used to develop a residential complex. BLD executives think that the region is very promising and would attract many Sofia residents, particularly with view to the general trend of relocation from the centre to the suburban areas, which offer better opportunities for improving living standard. BLD will use its own resources for financing the transactions. The purchase is in line with the fund’s strategy of portfolio... more