Three buildings on the beach in the Black Sea city of Bourgas were demolished by the city hall on May 25 2009 for failing to conform to legal requirements, private national bTV channel said.
The latest rating of the global business consultant AT Kearney indicate that Bulgaria still has positive potential for outsourcing of offices in spite of the economic downturn. It is still an attractive destination, especially in the financial and accounting sectors, maintenance and development of computer systems and databases, client support, research and development and labour intensive services.
Leading Sofiabased consulting firms have reported that perspectives for investments in industrial sites, warehouse complexes and logistics centres in the capital and the surrounding region have in fact quot;improved quot;, because the crisis has had a substantially lesser effect on rent levels compared to other types of business properties.
The first retail centre in Bourgas was officially inaugurated on April 24. The facility is the largest in Bourgas, and its 60million euro investment ranks among the highest in the city and municipal as a whole.
The fifth Balkan Property Exhibition BalPEx will be held from April 24 to 26 at the Inter Expo Centre on Tsarigradsko Chaussee in Sofia.The main focus of the event is on offers from Bulgaria and the region. Traditionally, the event also offers exchanges of information and experience, by offering and facilitating services with regional partners.
A gated real estate complex on Baevitsa St in Sofias Boyana borough has been granted permission to commence construction. The design has been described as original and adventurous, and the land parcel is 7118 sq m in area. The complex consists of three buildings of irregular shape. Combined together, they are said to be quot;shaped like a rainbow quot;.
Bulgarian Land Development BLD fund, registered at the London stock exchange, announced the purchase of five buildings from Dimitar Blagoev Printing House in Sofia. The buyer, a joint venture between BLD and private investor Norhtridge Capital, acquired a gross actual area of 29 000 sq m, Investor.bg said.
Commercial property developer Parkridge wants to build the second mall in the town of Veliko Turnovo and has already held talks with mayor Roumen Rashev on the issue, Dnevnik daily reported on April 21.Parkridge is ready to invest 30 million leva in a multipurpose commercial project, which would spread on a plot of around 1.5ha, Rashev said, as quoted by Dnevnik.
At last years edition of Balkan property exhibition BalPEx, vacation real estate in resorts were everyones darlings, but this year it looks like malls, office buildings and industrial parks will be the main drivers of growth on the real estate market, Dnevnik daily reported on April 21.The vacation segment of the market is oversaturated, causing investors to look elsewhere, according to the daily. As a consequence, a large number of projects presented at this years edition of BalPEx, which ended on April 20, were for commercial and industrial real estate.
The shopping malls market segment could face a crisis in 2010, Emanuil Santev, head of real estate department at Hypo Alpe Adria Leasing told participants at the second regional conference Balkan Real Estate Conference BalREc on April 15 2008, as quoted by Dnevnik daily.