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Large Players Head For The Northern Black Sea Coastline

In an attempt to attract affluent tourists, local business people have opted for luxury construction at certain destinations along the northern coastline, which have not yet suffered the consequences of over-construction, Standart daily reported. These are some of the projects under development:

 ** July Morning, a seaside resort, which will spread over 95 000 sq m of beach-front sea land, situated next to Kavarna. This will deliver about 400 apartments. Construction is expected to start in spring. The investor is Bulgarian Land Development, headed by Dimitur Spasov.

** Harmony Hills in Rogachevo village, near the Albena resort.

** Holiday villages near Kranevo and Obrochishte.

** А hotel in Kavarna area, owned by Nikolin Gavrailov, managing director of the NVG Group that specialises in construction.

** A new apartment complex in the village of Bozhurets, developed by Bozhurets investment, a Scottish investment fund, managed by Svetoslav Dimitrov on the Bulgarian side.

** A new four-star hotel will open this summer near the city of Kavarna. The developer is the former Lovech district governor Stoyan Kovachev.

 ** The Black Sea Rama golf project near Balchik, developed by advertising tycoon Krassimir Gergov, sociologists Andrei Raichev and Kuncho Stoichev, former deputy financial minister Iliya Lingorski, and Georgi Krumov, the head of Equest fund and current Sofia garbage concessionaire.

 ** The Kaliakria II project, near Kavarna, will soon launch its first stage, delivering 104 apartments. The investor is the Bulgaro-Swedish Linexa Property, managed by Angel Lingorski. Residential units have already been sold at an average price of 1 350 euro a sq m. The complex will be developed in three stages. A total of 350 apartments will be built.

 ** Shabla municipality is at the forefront of serious development. Realtors have recently noticed increased investor interest in the region.