Transport Minister, Vidin Mayor To Monitor Construction Of Danube Bridge 2 25/03/2008
Bulgaria's transport ministry and Vidin town hall would hold monthly panels to monitor the progress of Danube Bridge 2, which will link the Bulgarian town to Calafat in Romania, Transport minister Petar Moutafchiev and Vidin mayor Roumen Vidov agreed on March 24, Focus news agency reported. “It is not time for policy but time for real action,” Moutafchiev said, adding that despite the project being agreed for some time, nothing has been made to start construction before he took office in 2005. The project was too complex for any single institution to deal with on its own and would require co-operation between central and local government to meet the stipulated deadlines, Moutafchiev said. “I hope that building works will complete by 2010,” he added. He pointed out the possible... more

Parkridge Ready To Build 30m Euro Veliko Turnovo Mall 21/04/2008
Commercial property developer Parkridge wants to build the second mall in the town of Veliko Turnovo and has already held talks with mayor Roumen Rashev on the issue, Dnevnik daily reported on April 21. Parkridge is ready to invest 30 million leva in a multi-purpose commercial project, which would spread on a plot of around 1.5ha, Rashev said, as quoted by Dnevnik. In February, Parkridge founder and chief executive John Cutts was quoted saying that the developer would continue expanding in Eastern Europe, most notably in Bulgaria and Ukraine. In Romania and Russia, the firm would develop industrial areas, he said at the time. Parkridge is already firmly entrenched on one Eastern European market, namely Poland, where it has eight retail projects in the works or completed.... more

Property Prices In Bulgaria To Go Down 12/03/2008
The prices of apartments in Bulgaria would probably decrease within three to four months, Yavlena real estate agency representative Anna Katsarova said. Katsarova said as quoted by 24 Chasa daily that the reason for the price decrease was that real estate owners started speculating in 2006 with Bulgaria’s upcoming EU accession. Calculations were based on too high expectations for price increase. Prices went up by 10 to 15 per cent at the end of 2006 and some real estate owners even withdrew their property from the market waiting for the new year. The demand for lodgings in the second half of January 2007 was high and more potential buyers inquired about property as compared to the same period in the past years. Address real estate executive director Katia Tsenova said that most... more