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The Pursuit Of Leisure

Will Bulgaria's capital ever boast a large amusement park to rival other EU cities? Fun-loving Sofians will be pleased to hear that an ambitious mega-project, christened Iskur Park, is being planned.

The new park is likely to make its predecessor, SofiaLand, seem modest. Iskur Park will tower above the capital's northern suburbs and bring transformation to a largely derelict industrial wasteland that has always compared unfavourably to the south.

Leisure centres have not been a priority for developers in the past 15 years. The massive boom in the retail, office and residential sectors had left little room for other types of construction. In response, the previous municipal council amended the city's master zoning plan, setting aside Sofia's northern suburbs for recreational projects.

Is it wise to build a recreational park in an industrial zone, particularly one overshadowed by Kremikovtzi, Bulgaria's largest steel plant? The area has never been particularly popular, a fact that kept prices down. But Petur Dikov, the capital's chief architect, believes low prices are beneficial:  "It makes sense to base future sports and amusement utilities to Sofia's north because land is still very cheap". Indeed, considering the lack of suitably equipped plots for such a plan, launching these projects beyond the city's borders seems the only viable option.

Ever since he took office, Dikov had been giving thought to opening the north of Sofia to sports and leisure centres. He even predicted an investment boom and the creation of large entertainment areas extending to between 150 000 and 200 000 euro a sq m. Current land use may indeed diverge markedly from its intended design in the master plan. Yet Dikov claims that a wave of investor interest is "imminent".

The master plan incorporated these new ideas less than a year ago. Nonetheless, the new changes will not be final until Parliament approves the plan's revised version. Dikov hopes that once approved, it will not be revised for at least a decade.

Apart from low land prices, the northern zone offers some ideal conditions: the picturesque valleys of Iskur and Lesnovska rivers; the protected area of Urvich fortress; the Passarel and Pancharevo lakes and the Iskur Dam. These areas can also make use of their natural opportunities for water sports and fishing. The Iskur Park project would still face one more obstacle - the re-cultivation of polluted industrial wasteland.

Transforming Sofia's northern area into an investor hotspot and entertainment hub was first considered about 20 years ago. The most recent amendments to the zoning plan merely added about 100ha of land to the project - the area around the Ring Road and Tsarigradsko Chaussee Blvds; a 54ha plot, north of Vrana Park.

The Concept

The future park would comprise several "thematic" sections and various buffer zones between newly urbanised and existing industrial areas. These will be linked to the amusement site via pedestrian pathways. The first section embraces a 134ha plot, furrowed by the beds of the Suhodolska, Vladaiska and Perlovska rivers. Starting in Sofia's Benkovski neighbourhood, it will occupy a tree-lined park insulating it from noise. A national ecology centre with a scientific research department will also be on the site.

A section of Iskur Park will also include extreme sports facilities as well as a skating and a paintball centre. The second section - a nature area - will skirt the Iskur and Lesnovska rivers.  A large water park - Aqualand - will occupy a 130ha stretch alongside a parking area as well as various restaurants and a hotel.

The water park is very much linked to the successful development of Kubratovo waste-water purification plant on the premises of the amusement centre. Designers will have to integrate it into the park's overall concept without jeopardising the area's beauty.

The large commercial areas, which will service tourists, will dovetail the Iskur River. Restaurants, swimming pools, pedestrian and cyclist lanes will be built around the villages of Kubratovo, Chepintsi, Svetovrachene, Negovan and Kazichene. The quarries between Chepintsi and Negovan will be closed and converted into lakes for water sports. Lands included in the entertainment park will be absorbed in stages in compliance with the expiry dates of concession contracts.

Possible pitfalls

Will this large-scale entertainment project ever materialise? The plan appears promising, heralding more jobs and improved infrastructure to the underdeveloped north. But it's unclear if it will survive a cost-benefit and feasibility study. And several problems are looming:

Inexperienced entrepreneurs tend to stumble into new ventures of this kind without much foresight. Then they assess the outcome and try to rectify mistakes. The only previous development of this magnitude was the defunct SofiaLand complex. It lasted four years. Rumour has it that the park was viable and its bankruptcy a mere sham to alter the plot's purpose.

Evaluating the potential of an amusement centre, especially in an unfashionable area, is difficult. But an aqua park also seems implausible because it only attracts seasonal visitors. This would seem to contradict Iskur Park's aim of being an all-year-round venue catering to a wide-ranging market.

Another ambitious plan includes the building of hotels in nearby villages, hopefully attracting foreign tourists. If cheap land were the sole yardstick for success then Iskur Park would certainly triumph. However, low cost is not the sole prerequisite for profitability.

Several other issues must be resolved.  There is a lack of clarity about the identities of the investors. Reportedly, they were already acquainted with the project and had the opportunity to "book" the best plots. Anonymous briefings link them to First Investment Bank.

The area envisaged for constructing Iskur Park also has a mixed legacy. It includes a railway, which must be encircled by a buffer zone. Further on, the Kazichene area was once mooted as a possible construction site for Sofia's inter-modal terminal. Although Poduene station was finally chosen for the transport hub, many investors bought land around Kazichene and constructed logistical centres. These investors could find their enterprises in the middle of a sports-recreational centre if Iskur Park materialises.

Land prices in Sofia's northern suburban areas are low. Nevertheless, significant resources are needed to re-cultivate the area and construct appropriate transport facilities. These could undermine the investment's profitability.
 
Can the attractions be absorbed by the capital? Will Iskur Park be filled by locals and visitors? This is unclear, especially because it's not the capital's only planned amusement park. Another probable competitor is the Maria Louisa complex. Banking on its location, popularity and satisfactory turnout, this has the potential to become a successful, high-yielding modern aqua park.

Prospects for other amusement centres, planned near the Central Railway Station, are not good. The concept resembles that of Iskur Park:  industrial plots to be converted into amusement zones. The financial dividend, however, is extremely dubious.

It's hard to gauge whether these projects will be successful because some are unprecedented. Only time will tell if they will be properly managed and sufficiently popular. So sports aficionados must bide their time before they can look forward to bungee-jumping in Iskur Park.

 
propertywisebulgaria.com