Construction Sector To Grow Steadily Over The Next 45 Years 19/03/2008
Bulgarian construction sector would grow by an annual 12 to 15 per cent over the next four or five years, as long as the Government succeeds in providing an adequate regulatory framework that would benefit everyone - from large investors to end-consumers, deputy regional development minister Savin Kovachev said, as quoted by Stroitelstvo Gradut weekly on March 17. Sofia attracted about half of Bulgaria’s foreign direct investment FDI) and generated 30 per cent of its gross domestic product (GDP), architect Atanass Tossev, who is a member of Bulgaria’s Chamber of Architects (BCA)’ managing board, said. The capital should not try to concentrate all production and human resources, though, he added. Regional governor Todor Modev declared the authorities’ firm resolution to work toward... more

Bulgarian Real Estate Fund Reitsofia Sells Office Premises For 20.9m Euro 10/03/2008
Investment vehicle Bulgarian Real Estate Fund (BREF) REIT-Sofia said on February 5 it sold the open air parking lot and the office premises that are part of the large-scale Kambanite Business Centre project to Navigator Business Centre Ltd The business centre, located along Sofia's ring road, lies opposite of Business Park Sofia is still under construction, but is due to be completed by the end of this year. The office spaces have a gross actual area of 15 809 sq m. The value of the deal is 20.9 million euro, without VAT, BREF said in a statement to the Bulgarian Stock Exchange, where it is listed. BREF has already sold the retail areas of the Kambanite Business Centre, thus completing its exit from the project, which brought it 32.05 million euro in total revenue. Last... more

Bulgaria & Romania To Pay 25 Mln Eur Each For Reconstruction Of Danube Bridge 02/09/2008
Bulgaria and Romania will have to provide 25 mln EUR each for a thorough reconstruction of the Danube bridge between the towns of Rousse and Giurgiu. This is the agreement reached by the Bulgarian minister of transport Peter Mutafchiev and his Romanian colleague Ludovic Orban during their meeting in Rousse, announced BNR.Experts from the two countries will prepare proposals about the terms and the actions, which will approved on the next ministerial meeting in the Romanian town of Calafat in September.Such reconstruction of the bridge has not been made since its establishment in 1954.The two ministers agreed the experts to make proposal on reduction of the taxes for crossing the Danube bridge with the criteria being valid for other bridges which are to be built over the river. more