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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.

28.05.2008 Simeonovo River Park To Cost Over 100M Euro

A new residential development has been started in Sofia. Simeonovo River Park is expected to be one of the most expensive projects of its type. Currently, the estimated costs to build the complex are estimated at about 100 million euro. That was announced by Ivo Koloushev, director of Bulgarian developer Litos, quoted by SeeNews newswire.
The construction company is a venture, with 50 per cent of the share stake being in the hands of a foreign investor and the rest controlled on Bulgarian side.
The construction works of Simeonovo River Park started earlier this year and the completion deadline is in three years’ time. The whole project will spread over 248 000 sq.m and will consist of 207 houses with modern architecture. Another 97 000 sq.m are intended for maintenance space. It is said that half the space is reserved for parks and green areas. This will include bike and pedestrian alleys, several basketball and tennis courts for sports and leisure activities.
There will also be a supermarket and a number of restaurants and cafes
Litos, the developing company, has two other similar projects under construction in Sofia in its portfolio. They also have a hotel in the winter resort of Bansko. The company is also in partner relations with a real estate investment trust based in Ireland.

27.05.2008 Chasing Builders

Construction works in Bulgaria's Black sea capital - Varna has been banned for the summer season. However, on May 24 City hall officials have spent the public holiday playing hide and seek games with construction workers. That was announced by the mayor of Varna's Primorski district, Plamen Gradinarov, as quoted by the local Cherno More daily newspaper.

Gradinarov was referring to the order issued by Varna mayor Kiril Yordanov, according to which all construction works should be put on hold for the duration of the summer season, which already started.

Nevertheless, at 6.45am on May 24, when Bulgaria was preparing to celebrating the day of Slavonic alphabet, residents of one of Varna's affluent neighborhood Chaika, next to the sea garden, alarmed Gradinarov that a company was working on a construction site.

It is said that workers were trying to lay the concrete foundation of a five star hotel. Gradinarov's employees had to chase the workers around, who ran away the minute Gradinarov's people arrived at the construction site.

After being “ambushed” Gradinarov said the workers were caught and fined.

26.05.2008 Varna Reached Highest Rental Prices

Varna holds the first place of most expensive rental prices in the whole country. That was reported by the local Narodno Delo daily on May 26 2008.

According to the newspaper, luxury apartments registered the highest increase of 22.1 %, compared to May 2007. Rents of unfurnished properties have increased by approximately 19 per cent, while furnished ones have increased by 17 per cent.

Two-bedroom apartments were the preferred choice of customers, Narodno Delo said. Currently, the renting price of two-bedroom apartments in the city's downtown area around the Red square started from 300 euro a month.

In the more remote districts, such as Mladost and Vuzrazhdane, the price was about 250 euro a month.

The rental price of a newly-built house of 250 square metres in the city's seaside vacation community of Trakata was about 2500 euro a month, the paper said. A floor of such a house could be rented at 1700 euro a month.

The average time line of a renting contract for a two-bedroom apartment was about a year, while houses in Trakata were usually rented for the summer season, real estate brokers told the paper.