Archive for the 'Ski property' Category
Monday, July 16th, 2007
2 million euro invested in Bansko ski resort run reconstruction
More than 2 million euro have been invested in Bansko’s ski runs reconstruction, said representatives from Ulen, Bansko ski facility concessioner. The reconstruction programme has been developed by the world-famous consultancy company Ecosign Mountain Resort Planners. Ecosign’s study and concept for the snow-based Olympic venues led to the nomination and the election of Sochi/Krasnaya Polyana to host the Olympic Winter Games in 2014.
The length of the ski runs in Bulgaria’s Bansko reached the record-breaking 65 kilometers. Bansko ski runs’ reconstruction programme is coordinated with experts from the Environment and Water Affairs Ministry, the company stated..
This year Bansko hosted a round of the Women’s Alpine Ski European Cup. Next year it will hosts the initial round of the men’s competition.
Thursday, July 12th, 2007
Oman State General Reserve Fund enters Super Borovets project
Investment fund Equest and Oman investors from have set up a joint venture that will implement the Super Borovets project, said Equest managing partner Georgi Krumov. The joint venture Borovets Invest now owns 67% of Rila Samokov 2004, the project company that owns 2 mln sq m of land in Bulgaria’s Borovets mountain area for further development into residential second homes and associated infrastructure.
Equest has contributed 10 mln euro to the partnership where ownership is evenly split between the two investors. The size of the Oman investment in the joint venture was not disclosed.
Earlier this year Equest invested 15 mln euro in the capital of Rila Samokov 2004 to gain entry into the project.
The Samokov municipality controls a 25% share in Rila Samokov 2004 AD with construction company Glavbolgarstroy holding 8%.
A day before the announcement of the joint venture with Oman investors, Romanian news agency Rompress reported that Equest had acquired Romanian electronics and home appliances retailer Domo.
At end-2006, Domo had a national chain of 107 shops selling household, electronic, IT and telecom appliances, with a total area of some 40,000 sq m.
In Bulgaria, Domo has 7 specialist stores, with a total area of 3,500 sq m.
Equest already owns one electronics retailer, Bulgaria’s Technomarket. The chain has plans to expand into Romania and Serbia.
The Domo deal is a key investment for Equest as it shapes up the biggest chain of electronics stores on the Balkans, said Krumov. He did not rule out the merger of the two store chains.
Wednesday, July 11th, 2007
500 000 British tourists visited Bulgaria in 2006
More than 500 000 UK tourists visited Bulgaria in 2006. Many tourists came to Bulgaria, bought real estate and stayed in the country, UK deputy chief of mission Nick Leake said for Monitor.
Leake was on a day visit to Smolyan during which he met the mayor of Smolyan and management of the regional administration. With tourism sector representatives, he discussed opportunities for the development of the region. Leake said that it was important for tourism companies to decide which is more important, to attract fewer but wealthy tourists or larger groups of tourists with less money to spend, the newspaper reported. Nearly 600 UK people live in the region of Smolyan.
Britons come to Bulgaria attracted by the mountains, the sea and the exceptional nature, Leake said.
Wednesday, July 4th, 2007
Bulgaria’s Gesha View eco-complex wins Bentley international property award
For a second consecutive year, Bulgaria’s Gesha View holiday development won the prestigious five-star Bentley award for excellence in the property sector. It was also awarded a four-star prize in Bulgaria’s best real estate category.
The investors, among which Julian Georgiev, David Hollands, Robert and Cristopher Downham, put 2.25 million euro in the construction of the high-tech eco complex in the village of Gesha.
Gesha View provides for more than 130 residential units. Average sales price of a two-bedroom unit is 110 000 euro and the most expensive home costs 200 000 euro. So far buyers from UK, the Netherlands and Italy have purchased homes in Gesha View.
The complex is set to open at the end of 2008.
Wednesday, June 27th, 2007
The Bulgarian company Unique Estates is the new affiliate of Christie’s Great Estates
Bulgaria is the first of the 12 new EU members, where the leading brand for luxury properties Christie’s Great Estates chose for its new affiliate the Bulgarian company Unique Estaes Luxury Properties.
The contract was signed yesterday June 26th, 2007.
Christie’s Great Estates is the world’s largest network of real estate brokers specializing in the marketing and sale of luxury properties. The company is fully owned by Christie’s International – the world’s biggest auction house. The Chrisite’s Great Estates global network includes nearly 35 000 sales associates operating from 850 offices in more than 35 countries. The network’s combined annual sales top $125 billion.
Unique Estates is a Bulgarian company, specializing in luxury properties and is part of the biggest real estate holding in Bulgaria AG Capital. The negotiation process with took more than two years.
Tuesday, June 12th, 2007
Balkania bed capacity to reach 10,000 through 2010
The bed capacity in Balkania, the mountainous tourist region encompassing the municipalities of Teteven, Apriltsi and Troyan in Central Northern Bulgaria, will jump to 10,000 over the next 2-3 years, said Daria Zarichinova from Tour Club ReMark which is marketing the destination.
The club said at least 30 projects for the construction of new tourism facilities have been approved in the Apriltsi area alone. The bed capacity of area resort Chiflika has doubled over 2006 while at least 4-5 new hotels are under construction in resort village Ribaritsa.
Developers are preparing to build half a dozen of holiday homes villages in the region. The biggest investment in the Balkania region so far is the 4 mln lev Venika hotel in Chiflika. The 3-star facility offers 100 beds.
Tourist arrivals in the region are expected to increase by 20% this year.
Wednesday, May 23rd, 2007
Bulgarian company to build holiday home village in Ribaritsa
Construction and investment company Tenbul said it will invest 1 mln euro in a gated holiday home complex in Ribaritsa, a mountain village in North-western Bulgaria. The 5,250 sq m Kostina vacation community will comprise 13 two-storey villas with floor area ranging from 140 to 190 sq m.
Villa owners will be able to rent out their property when they are not using it. The complex will offer year-round property management services. The first villas to be completed will sell at a promotional price starting from 950 euro/sq m, said Tenbul manager Marin Kadiiski.
The pristine Ribaritsa, located at an altitude of 600 m beneath the Vejen peak in the Balkan Range, is fairly popular among holiday property developers and second home buyers. Realtors said upscale properties sell at 1,000-1,200 euro/sq m.
Dnevnik Daily
Tuesday, May 22nd, 2007
Bulgarian resort of Dobrinishte tourist ski zone investor chosen
Galchev Engineering Group in co-operation with Austria’s Norema was chosen as the investor for the construction of the Dobrinishte tourist ski zone. This was said by Radko Lechov, head of the Bansko municipal council, at a council meeting on May 13, Investor.bg reported.
“We chose Galchev Engineering Group after serious investigation of its activities. It turned out that the company has serious experience in building tourist complexes. Norema has strong financial potential. The combination of the two is extremely good,” Lechov said.
At the next meeting to be held in June, the two holdings are expected to form a mixed share holding with Bansko Municipality to carry out the project. The intention is for the municipality to have strict control over the building of the ski zone, Lechov said.
Building was expected to start by the end of the year, he said.
The ski zone will be designed by the same person who designed the ski zone in Bansko, architect Emil Lechov. The project will cost about 200 million leva. Investor.bg said that last year, because of increasing interest in the Dobrinishte project, Bansko municipality worked out the basics for the development of the resort. This was presented to potential investors. Among investors that took an interest in the project were Nord Invetment Inc, and Sunset Developments Ltd, the owner of the two mountain huts and the hotel in Dobriniste. Later, Sunset Developments Ltd changed its name to Dobrinishte Ski Ltd.
Last October, the Invest Bulgaria Agency gave Dobrinishte Ski a first class investor certificate for the ski complex project. For now, it remains unclear why the Dobrinishte Ski Ltd project did not go further. An official statement by the Invest Bulgaria Agency was expected.
Currently, the ski complex in Dobrinishte includes the Dobrinishte hotel which has a 130 bed capacity, Gotse Delchev hut (40 beds), and Bezbog hut (140 beds). The ski track is five km long. It starts at Bezbog hut and finishes at Gotse Delchev hut. It is 30 m wide, with two lifts, ski drags, and a ski school.
Investor.bg