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10.06.2008 Varna Mall To Open Tomorrow

The first 100 visitors to enter Mall Varna have been selected through the website of the shopping centre. They are the first 100 people to register at the special pre-opening website between June 2 and June 8. Of all 1515 registered, they will enter the mall tomorrow at 4.30 p.m. Although Mall Varna will officially open its doors on June 12, all stores will open for the first special customers.
For tomorrow's day several events are planned. Anything from watching a movie in Arena 3D Theater, having a snack at the first Bulgarian Burger King outlet, or trying the Subway sandwiches.
Mall Varna is situated on Vladislav Varnenchik Blvd. and offers a wide range of shopping outlets and entertainment facilities. With a total area of 33 000 sq.m the complex has a year-round skating rink, 10 bowling tracks and hall with electronic games. Mall Varna also facilitates the first 3D cinema theater in Varna, with eight halls and room for 1300 people.

09.06.2008 New Office Building On Pirotska Street

New modern office facility will be constructed on Pirotska street in Bulgaria's capital Sofia.
The total cost of the project is estimated at 20 million euro, while the return rate is expected to be around 25%. All building works must start this year with a deadline set for 2011. The building will have 15 floors with total built-up area of 18 500 sq.m. (above ground level) and will provide additional 9000 sq.m underground space. The plot where the building will be located is 2400 sq.m.
Top-class office premises - technology, energy efficiency, inner infrastructure, high level of security, various interior designs, 4 levels of parking space are only some of the key features which the new building will provide.
The investors plan not to sell but to let out the separate properties in the building. They also intend to distribute the available area on each floor according to the tenants' needs and requirements. This will allow the building company to establish long-term business relationship with the tenants, giving them the opportunity to develop their own ideas for their own offices.
Author of project future building on Pirotska street is award-winning architect Kalin Dikov. He gained further popularity after his project for Belissimo business centre was given first prize at the 'Building of The Year' contest in 2006.
The investing company is currently working on 8 projects worth around 180 million euro. Their portfolio includes holiday villages and complexes, as well as business facilities.

07.06.2008 Marina d'Or Spain company invests in luxury vacation spa complex in Ribaritza

In the resort of Ribaritza in the Balkan Mountains will be build new luxury vacation spa complex. Investor is the the Spanish real estate company Marina d'Or. The complex will be close to the town of Teteven and 132 km west of Sofia.
The Marina d'Or investment projects actually include two complex buildings in Ribaritza - Old Ribaritza and Ribaritza II.
The Old Ribaritza Complex will have 833 high-class vacation apartments located along the Ribaritza River close to the village with the same name. The average sale price is expected to be EUR 1100 per square meter. The Old Ribaritza Complex is also going to include a retail center, a children's park, a restaurant, and its unique spa center with a balneological part.
The first apartments are expected to be ready in 28 months. The marketing campaign is just starting but it envisages massive advertising in all 22 countries where Marina d'Or has offices.
In the project is included and building of small quarter with office and residential areas in the Bulgarian Black Sea city of Varna.The Spanish company is currently realizing a unique project for a vacation town in Valencia, Spain.



06.06.2008 New Privately Gated Complex In 'Byalata laguna'

The first sod of the construction of a brand new privately gated community was turned in the White lagoon resort (Byalata Laguna). Investor of the new residential complex is the owning company of Albena Resort.
Byalata Laguna is a resort close to Balchik, and although as a destination it is not as popular as Golden Sands, Sunny Beach Sozopol or Nessebar, it is renowned for its mineral thermal springs, healing mud and well-preserved natural surroundings.
The complex itself will be situated on the front beach line and will cover approximately 21 000 sq. m. The expected cost only for the first part of the development is estimated at 15 million leva. But although the complex has not been started, some of the properties in the complex have already been marketed to potential Russian and Romanian customers and investors.
The investing company is currently conducting consolidation works at the site.The current start of this project is an indication of serious reverse in the plans of Albena owning company. Last year, the resort operator tried to sell the White Lagoon resort, but failed to reach an agreement on the price with prospective purchasers.
In 2007, Byalata Laguna resort ended with losses of 0.594 million leva. The poor financial result was due to the higher buildings tax and write-offs related to the re-valuation of assets after the resort went public.
Last year Albena reported net profit of 17.7 million leva, which represents a 13.7 % year-on-year rise. Revenues, however, were down 3.7 per cent over a 12 per cent decrease in overnight stays. The largest declines were reported to be of German and British tourists.

05.06.2008 Kazanlak's Rose Festival Starts Tomorrow

The annual Bulgarian rose festival will start tomorrow, June 6, in Kazanlak. Held always during the first weekend of June, it will continue until Sunday, June 8.

Although officially the festival is 3 days long, a programme of various exhibitions, ceremonies, tournaments and performances are scheduled for the whole week before.

The festival was held for a first time in Kazanlak in 1903. It usually coincides with the end (or often with the peak) of spring harvest of roses. Dedicated to the aromatic blossom, the event honours the incredible fame which the Kazanlak rose (Rosa damascena) brought to the town and the whole country. The extracted rose oil and its derivatives has for long been used in the perfume industry and in the production of soaps, lotions and creams, liqueurs, jams, etc. The rose water also gained incredible popularity for its wide range of applications.

Only a few years after the first festival, a similar event dedicated to the Rosa damscena was held in Karlovo. Throughout the years the popularity and fame of Bulgarian rose oil increased to an international level. Eventually, due to the world's recognition, in 1967 the festival became national. Nowadays, similar events are held at almost all towns in the "Rose Valley".

In Kazanlak, a large number of social and cultural events open to public are always scheduled throughout the whole week, most of which are free-of-charge. The programme includes various exhibitions, award ceremonies, tournaments and competitions of all types. Bazaars and even conferences regarding the problems and perspectives of the local rose oil producers are held as well as public discussions about the economical and cultural development of the towns in the area. A beauty pageant to select a Rose Queen is also held. Officially, the festival is solemnly opened on Friday evening with a artistic crowning ceremony of the Rose Queen. Bulgaria's most popular ethno-choreographer Neshka Robeva and her ensemble and "Angel Sky" group will take part in the show this year. Various events are held the next day, one of which every year is the "Rose picking and rose-distilling" ritual. The festival ends on Sunday with a vivid carnival procession through the main streets of Kazanlak at noontime and a concert in the evening.

04.06.2008 Bulgarian Waste-Water Systems To Be Modernized

The Minister of Environment and Water Resources appealed once again to Varna Municipality to hand in their project for modernizing and expanding the waste-water refinery in Golden Sands Resort.
Projects for over one billion leva have been submitted so far by the local administrations from all across the country. However, two of the strategic waste-water stations - those covering the resorts of Sunny Beach and Golden Sands, have been delayed.
The Eco-Minister once again reminded holiday investors to think in long-term perspective when they execute their projects. He highlighted that Bulgaria is one of the few countries in Europe to have such wide biodiversity and nature resources are the key for a successful and profitable hospitality industry. He also stressed that preserving Bulgaria's nature will eventually lead to a change of target tourist groups. Providing clean environment will bring another type of tourists - people with high value for nature, with higher expectations and standards.
The Environmental Ministry is in charge with constructing and re-constructing the waste-water stations along the Black sea coast. This is expected to bring the qualities of the sea water to a higher standard. A total of 220 million euros have been secured only for the stations along the sea. Funds are available, but the municipalities do not appear to be active and initiative enough, as the Minister said. These projects are also of utmost importance to the less developed tourist areas such as Hisar and Vurshets, popular balneological and spa areas among Bulgarians, but with poor international recognition.
The new waste-recycling campaign is also a major initiative started by the Ministry. A total of 55 regional recycling depots must be constructed, 21 of which must be started as soon as possible. By next summer Bulgaria must give real proof to the EU that work is being done. Only then the authorities will state specific deadlines for completing the projects.
On May 30th at the Environmental Ministry were submitted projects for 1.4 billion leva, though the expected total amount was around 730 million leva. Only 13 of all 113 applications were handed earlier. The rest were handed the last day.

03.06.2008 Further To Go With The 'European Trade Center' Project In Sofia

The "European Trade Center" on Tsarigradsko Shose Blvd. is expected to be completed in 2010. The project gained incredible fame when it was first started in 2006 for the use of the so-called "green technologies" in the construction. This approach was then said to increase the energy efficiency of the complex and to optimize the overall functions of the space.
The total investment is estimated at 70 million euro. The construction works are executed by the international 'Terna' and Bulgarian building companies.
According to the investors, about 60 % of Sofia's construction and engineering force and resources are currently involved in the development. They reminded that 14 heavy-duty freight lifts/cranes are being used at the moment.
This data and the most recent information about the completed stages of the development were announced yesterday by the investors on a press conference.
The construction works started in the winter of 2006, right next to the new Carrefour hypermarket. The whole complex will include five buildings with class A office premises and will offer a total area of 60 000 sq.m. The first block (A) will be facing the boulevard and will be the tallest office building in Bulgaria. The complex will include modern innovative and high-tech solutions in order to meet clients' needs for energy, cost and functional optimization of the commercial estates. It will also have a total of 830 parking spots.

02.06.2008 Municipal Land Plot Sold On Public Offering in Blagoevgrad

Action for a land plot in the town of Blagoevgrad was held on Friday by the municipal administration. Ten different companies took part in the public-open competition for a municipal-owned plot of 287 sq.m. The piece of land is located on Alexander Stamboliiski street in Blagoevgrad.
All offers were opened and announced in public to all candidates and attending journalits by a specially assigned commitee of 5. Eli Lazarova, head of "Municipal Property" department, was entrusted the position of a chairwoman of the commitee. The other representatives were Sasho Milchev, Hristo Kovachki, Yordan Milenkov (members of the Town Council) and Rumyana Chorbadzhiiska, senior legal advisor of the municipal administration.
The highest offer for the land plot was given by the construction company "Bea Stroi" Ltd. with announced price of 691 000 leva.
The second highest offer was for 635 000 leva and the third was for 611 310 leva. The minimum amount allowed by the local officials was 215 250 leva.

30.05.2008 Sofia Battle - Houses Vs. Apartments

The idea of living in a house in the suburban areas of Bulgaria's capital Sofia has been the choice for many people for a long time. However, it was until the last few years and the booming real estate market in Sofia that purchasing a house became a better choice and even trend among Bulgarians. Many people find it frustrating to live in the closed and limited space of the apartmemts, but recently the price factor has started to gain signifficant importance. Prices per square meter for a decent apartment in the so-called 'better' residential areas exceeded 1000 Eur a long time ago.
If these two types of properties should be compared, one should take into consideration the same living area. For example, an apartment with area of 150 sq.m or more in the quarters of Izgrev, Borovo, Boyana, Vitosha, Beli Brezi, Manastirski livadi, Dragalevtsi, etc. (considered by most people as attractive places to live), one should spent around 1400 Eur per sq.m.
The price for a square meter of a house in Belite brezi or Ivan Vazov is around 1300 Eur. And you might be offered not just a one-family house, but also a floor of a bigger one. For about 1500 Eur/sq.m are offered the houses at the foot of Vitosha, in Simeonovo, Dragalevtsi and Boyana. Similar houses are even cheaper in Manastirski livadi and Malinova dolina (currently very popular).
It can be easily concluded that in fact, buying a house is not more expensive than purchasing an apartment. Prices per square meters are similar, but the total living area you one can get in return is more.
However, these are two very different types of properties. Each has its own advantages and disadvantages.
Getting a house means getting a an undisturbed, detached estate. It means getting a garden with a fence, a cradle for your children and a hammock for you, barbeque and fireplace, separate rooms for everyone, a lounge or a study and any other extras to pamper your family. And you have the option to construct your own home according to every single one of your whims.
For those of such independent thinking, apartments have the greatest disadvantage - complying with the builder's plan. Customizing opportunities for these properties are very limited. Especially if you are purchasing a re-sale apartment already arranged and designed according to the taste of the previous owner.
Another negative side would also be your neighbors. Although similar problems may arise quite often if you own a house, you are more likely to have totally different opinions on how loud and how often you should have parties and guests, how the shared bills should be distributed, who would get the parking spot in front of the building and how often should you have your apartment repaired and renovated.
On the other hand, one should never disregard some of the major advantages of apartments. Neighborhoods usually have well-developed infrastructure - regular public transport, any types of shops, schools, kindergartens, etc. More social activities and easier to meet new people. Getting to work takes less time, last-minute shopping and a wide range of entertainment are available relatively close, and taking a taxi back home after a night out is always cheaper. But for most people, the lack of well-developed infrastructure in house suburban areas in Sofia is often the biggest obstacle, especially for families with young children.
No matter the choice, it is important to note that apartments and houses meet the requirements and needs of two different groups of people. When you make your decision, you should always remember that the type of the property reflects on your way of life and daily routine.

29.05.2008 Innovation Architecture

World's famous architect Zaha Hadid announced a new innovative project. The next building will be a 250-meter-high skycraper, located in the heart of Poland's capital Warsaw. The development is expected to include an apartment section, a luxurious hotel, shopping and entertainment centres.
The project is called "Lilium Tower" and will have a lilium-like shape. The whole construction will of light materials and glass panes. Three more smaller lilium-shaped buildings are projected around the main tower. The total planned area of the property is 101 205 sq.m. However, the project is still at shell stage since the land where the skycraper should emerge is owned by Warsaw municipality and the state's railway company. "Lilium Tower" will be located opposite the Palace of Culture, which is 230 meters high. Built in the 1950s, it has a typical stylea and architecture of the communist era.
Zaha Hadid is the only woman ever to have won the top US architecture award, the Pritzker Prize, in 2004. Since then, the 56-year-old Iraqi-born architect has worked on various project with innovative architecture style. Most recently - a new performing arts centre in Abu Dhabi, which is part of that country’s extraordinary ambition to construct arts buildings. Hadid's architectural studio and their project has also recently been approved for the new Vilnies museum - the Guggenheim Hermitage.
Zaha Hadid's exhibition was presented in Bulgaria last year between May 28th and May 30th as part of the European architectural weeks. The managing director of the studio also held a presentation and lectures at the University of Architecture, Civil Engineering and Geodesy.