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Uk Investment Fund To Develop Bulgarian Mountain Resort Borovets

UK investment fund Black Sea Property Fund Ltd has bought 124 decares of land in the mountain resort of Borovets worth 10.5 million euro to be invested in a mountain complex.

The fund plans to build a complex to be used throughout the year. It will include a hotel, conference centre and various residential and holiday complexes, reported.

International architecture company Wimberly Allison Tong & Goo will prepare the general construction plan.

At the beginning of 2006, Black Sea Property signed an agreement to acquire 53 decares of land in Borovets. Its initial price was 3.6 million euro.

The fund currently is funding four construction projects and has invested in three other projects. Its portfolio includes projects in the mountain resorts of Borovets and Pamporovo, at the seaside and in Sofia.