New Residential Complex In Kranevo Breaks Ground

The first-sod ceremony of a new housing compound in Kranevo, located within the boundaries of Balchik Municipality, took place on March 18, municipality officials told investor.bg.

The gross actual area of the complex would be 30 000 sq m, as announced by Aleksei Tilianov, a representative of the project’s developer, Old Tower, the wholly-owned subsidiary of Gibraltar-registered Old Tower Ltd, according to APIS registry system.

The project’s contractor is Kurortno Stroitelstvo (Resort Construction) Ltd. A total of 27 000 tourists visited Kranevo in 2006, 19 000 of them foreigners, data provided by Balchik Municipality showed.propertywisebulgaria.com