Federal Development, Petrol Holding To Invest 3b Dollars In Real Estate 10/03/2008
Federal Development, an international real estate development and asset management company, and Bulgaria's Petrol Holding, the second largest oil products wholesaler in the country, said on February 19 2008 they agreed to create a joint venture that would focus on developing mixed-use real estate opportunities in Bulgaria. Initial plans focused on converting and redeveloping approximately 50 sites, owned by different entities within the Petrol Holding group of companies, including Petrol AD, Naftex Petrol and Evrocapital Bulgaria, which manages its real estate assets. These sites will be converted from oil servicing facilities to mixed-use developments that will likely include office, retail, and residential components. Financial analysis showed that total investment in the... more

Property Investors Interested In Bulgarias Small Towns 12/03/2008
The number of property investors interested in carrying out projects in Bulgaria's small towns is growing, according to Bulgarian-language daily 24 Chassa. The newspaper said that major property contractors in Bulgaria had accumulated capital in recent years, and most had decided to re-invest it in smaller towns. Still, the main share in the small-town property market was held by local contractors making their first investments. The factors encouraging property investors to invest in residential property and complexes were economic stability and a high return on investment. Investors were also taking into account population migration, the newspaper said. The supply of property under construction increased in Veliko Turnovo, Blagoevgrad, Pazardzhik and Pleven. The price... more

Bulgarian Construction Control Directorate To Stop Work At 7 Construction Sites 23/04/2008
Bulgaria's National Construction Control Directorate started procedures to close down seven construction sites following regular controls performed between January 1 and March 31 2008, the directorate announced on April 22. In addition, the directorate imposed 10 administrative penalties and issued two fines, Investor.bg said. The directorate performed controls at 153 companies in the construction sector throughout Bulgaria. Controls involved 118 housing blocks, 73 public buildings, 24 production buildings, 59 technical infrastructure constructions and six hydro-technical installations. more