Skip to main content

Revival of the real estate market in Bulgaria

Nearly five years after the crash occurs a new mega project. The Government sees it as a project with a significant economic impact, as the parallel would be a factor for the improvement of the Bulgarian's profile as an international tourist destination.

The eventual implementation will be a positive incentive for the development of the tourist industry, which is one of the priorities of the Government.

Investors are the French company “Accor”, which became known at home with its first investment – “Novotel” hotel at "Tzarigradsko shosse", the Bulgarian construction company "Markan" and the world ski operator PGI Management. It is expected the "Destination RILA” to be situated on a terrain of 55,000 acres between Separeva Banya and Govedartsi (about 70 km from Sofia).

According to preliminary estimates the value of the investment will be 550 million EUR.

Plans are the construction to continue for six years as the first phase should be completed in four years.

In the resort will be built 155 km of ski slopes, golf course, Aqua Centre and about 80 more recreational facilities. "Destination RILA" will have hotels from two to five stars.

In all the places that will be accommodated tourists will be separated as separate settlements. Investors are taken care of and the ecology as cars will not be allowed. The plans for it are to be visited annually by over 200,000 people. In the mega complex is expected to be open 8,000 job places.