Israeli Company Gets Credit For Business Park Varna Project 07/05/2008
Israeli conglomerate Africa Israel Investments announced on Sunday its subsidiary AFI Europe signed a deal with Investcredit bank for 59 million EUR, Reuters reported. The sum is foreseen to finance the Business Park Varna project in Bulgarian seaside city of Varna. From the company said that acquiring the property and three existing buildings cost 76,5 million EUR. From Reuters explain that Business Park Varna, located near the Varna airport and the Black Sea, includes 35,000 sq m of office space as well as another 15,000 square meters under construction. AFI Europe has 32 real estate projects in eight European countries. Africa Israel Investments has investment projects all around Russia and USA, including projects in the petrol sector. more

New Buildings Replace Older Property In Bulgarias Capital 07/03/2008
Experts predict a construction boom in Sofia's centre. In two years at most new luxurious complexes would replace the old buildings in the capital, real estate companies said. Yavlena real estate company representative Strahil Ivanov said that the process of replacing old constructions with new ones would start by the end of this year. According to Adress Group predictions, the boom would start two years from now, when construction in the capital's suburbs would be completed. Investors prefer plots surrounded by buildings less than four floors high, 24 Chassa reported. The new complexes usually have underground parking lots to deal with the parking problem in the capital. Purchasing an old building may cause troubles like additional destruction expenses and... more

Bulgarias Eu Accession Raises Property Investment Questions 07/03/2008
Bulgaria’s questionable EU future causes concern over the future of the country’s property market, Assetz reported. The property market experienced growth since EU membership talks began in 2000. Since then, the purchase of property in Bulgaria became increasingly popular investment opportunity. Interest toward property both in the capital of Sofia and in seaside and mountain resorts was on the rise. Bansko developed as a leading ski resort, while coastal property is seen as a viable alternative to purchase in countries like Spain, Assetz reported. The interest is not expected to disappear suddenly but some problems might occur, the website reported. According to the latest European Commission report Bulgaria still has to make progress in various areas for on-time membership in... more