Construction Work In Albena To Stop For Indefinite Time 15/06/2008
Resort operator Albena AD would stop construction work in the Black Sea resort with the same name in the upcoming several years, Dnevnik daily reported, quoting CEO Krassimir Stanev. The decision, made during a shareholders meeting held on June 14, was provoked by the fact that many of the hotels in the resort needed to be torn down as being outdated and architecturally unattractive, Stanev was quoted as saying. Moreover, even the hotels built in recent years did not fit the already established architectural pattern, Stanev said. Even one of the newest additions, the five-star Flamingo Hotel with luxury suites and studios, appeared as an out-of-place patch, he said. Construction work will resume only when a general development plan for the resort is approved, as the company intends... more

Eu Cash To Upgrade Bulgaria's Transport Infrastructure 20/03/2008
Almost two billion euro is expected to come to Bulgaria from EU funds for the period 2007-13. The money will be used for repair works of all first-class roads and railway lines between Sofia and the Black Sea coast. The money will also be used for granting on concession the Trakia, Maritsa, Struma and Cherno More highways as well as all Bulgarian airports except the one in Sofia. According to an action plan presented by Gagauzov, one billion euro is expected to come from the EU Cohesion Fund. The fund aims at helping countries reach EU standards. The money will be used for reparation works of nine roads and the ring roads of Montana, Vratsa and Gabrovo cities. With 1.5 billion euro for the fund, the Government expects to modernise the railway lines between Sofia-Pernik-Radomir;... more

Simeonovo River Park To Cost 100m Euro 29/05/2008
Sofia's future Simeonovo River Park residential development will cost about 100 million euro to build, Ivo Koloushev, director of Bulgarian developer Litos, told SeeNews newswire. The company controls a 50 per cent stake in the project and the remainder is in the hands of an unnamed foreign investor. Simeonovo River Park, whose construction began earlier this year, is due for completion in three years’ time. The project will spread over 248 000 sq m and will have 207 houses. Another 97 000 sq m will be occupied by maintenance space. Half the space is intended for parks and greenery comprising pedestrian and bike alleys, tennis and basketball courts. It will also contain a supermarket and restaurants. Litos is currently developing two similar complexes in Sofia. Its asset... more