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Invest Bulgaria News Directory
Bulgarian Real Estate Sector News
(56 Bulgarian Real Estate Sector News Stories Found)

BULGARIA SET TO PRIVATIZE DIPLOMATIC REAL ESTATE AGENCY

BULGARIA SET TO PRIVATIZE DIPLOMATIC REAL ESTATE AGENCY

Topics: Real Estate

Bulgaria plans to privatize the ADIS real estate agency that manages the properties of the Ministry of Foreign Affairs within the country. This was announced Sunday by Bulgarian Privatization Agency chief Emil Karanikolov for the Bulgarian National Radio. "We are planning to restructure ADIS and privatize it," said Karanikolov, adding that other state companies are also planned for privatization, without naming them. The ADIS real estate agency rents out the many diplomatic properties...


BULGARIA'S NATIONAL PALACE OF CULTURE TO BECOME PUBLIC COMPANY

BULGARIA'S NATIONAL PALACE OF CULTURE TO BECOME PUBLIC COMPANY

Topics: Real Estate

The Bulgarian National Palace of Culture (NDK) in downtown Sofia is to become a public company, the country's Council of Ministers decided Wednesday. NDK will be a state company, initially within the Ministry of Finance, Finance Minister Simeon Djankov has explained. It will stay within the Ministry until a financial audit covering its last 10 years is carried out. NDK is the largest multifunctional congress, conference, convention and exhibition center in Southeastern Europe. It was...


BULGARIA'S SOFIA STARTS 'UNFREEZING' ITS CONSTRUCTION

BULGARIA'S SOFIA STARTS 'UNFREEZING' ITS CONSTRUCTION

Topics: Real Estate

Vast construction projects in the Bulgarian capital Sofia, such as malls, office buildings, trade centers and residential buildings have been launched again as the financial crisis is slowly going away. Mall Bulgaria, Paradise Center, San Stefano Plaza, the Winslow Gardens Residential Complex, the Millennium Center office building are among the ambitious projects which have started unfreezing, the Dnevnik daily reports. The first Bulgarian IKEA is expected to be opened after its construction...


TRANSGLOBAL ASSETS CONTRACTS BULGARIAN CONSTRUCTION FIRM FOR BLACK SEA RESORT

TRANSGLOBAL ASSETS CONTRACTS BULGARIAN CONSTRUCTION FIRM FOR BLACK SEA RESORT

Topics: Real Estate

TransGlobal Assets, an Oregon-based company, has contracted Bulgarian construction firm Sofstroy for complete the development of the White Lagoon Black Sea resort, a USD 400 M project. After on Friday, the American firm announced plans to acquire a Bulgarian Black Sea resort development, it has now announced it has signed a Letter of Intent with Sofstroy Construction of Sofia, Bulgaria, to serve as General Contractor to complete the build out of the new beachfront development named the White...


SOFIA RESIDENTS DEMAND BAN ON CONSTRUCTION

SOFIA RESIDENTS DEMAND BAN ON CONSTRUCTION

Topics: Real Estate

Residents of Lyulin, one of the largest neighborhoods of Bulgaria's capital Sofia, gave a press-conference Monday to announce their demands for a ban on construction in their area. Citizens, gathered in a number of organizations and initiative committees, voiced anger at what they saw as uncontrolled construction encroaching on public space in the neighborhood and additionally worsening their living conditions. They have sent out letters to the highest state officers, including Parliament...


US COMPANY SET TO ACQUIRE USD 400 M BULGARIAN BLACK SEA RESORT

US COMPANY SET TO ACQUIRE USD 400 M BULGARIAN BLACK SEA RESORT

Topics: Real Estate

TransGlobal Assets, an Oregon-based company, has announced plans to acquire a Bulgarian Black Sea resort development, an investment estimated at USD 400 M once completed. TransGlobal Assets, Inc. has signed a letter of intent and has received the project plans for the acquisition and development of the White Lagoon Resort project located in Topola Village near Kavarna, Bulgaria on the Black Sea coastline. The White Lagoon project is anticipated to be valued at more than USD 400 M USD when...


PROPERTIES RESIDENTIAL PROPERTY PRICES IN SOFIA DOWN BY 10% Q1

PROPERTIES RESIDENTIAL PROPERTY PRICES IN SOFIA DOWN BY 10% Q1

Topics: Real Estate

The residential property deals in the Bulgarian capital Sofia have witnessed price falls of 10% in the first quarter of this year in line with the general steep contraction of the market over the last two years, data of a realtor shows. Price levels of residential property in Sofia stood on average at about ERU 830 per square meter in the first quarter of 2011, down from EUR 930 in the last three months of the previous year, according to research from Sofia based real estate agency Bulgarian...


BULGARIA'S SHOPPING MALL SPACE WITH LARGEST GROWTH IN EUROPE 2010

BULGARIA'S SHOPPING MALL SPACE WITH LARGEST GROWTH IN EUROPE 2010

Topics: Real Estate

The space of offering in shopping malls in Bulgaria grew by 475% in 2010 year-on-year, according to a Cushman & Wakefield report announced by its local partner Forton International. At the same time, the Cushman & Wakefield analysis points out that in 2010 the development of new commercial space centers in Europe saw its steepest decline since 1983. Thus, Bulgaria is ranked in the top 5 in Europe on the amount of new commercial space in 2010 after Russia, Turkey, Poland, and Italy. A...


BULGARIAN GOVT TO SELL MINORITY STAKE IN KEMPINSKI SOFIA

BULGARIAN GOVT TO SELL MINORITY STAKE IN KEMPINSKI SOFIA

Topics: Real Estate

Bulgaria's government is going to sell its 7.58% share of the Kempinski Hotel Zografski, one of the five-star hotels in Sofia. The state has already included its minority stake in the Zografski AD firm, which owns the Kempinski hotel in Sofia, in the State Consolidation Company created in 2010 to handle the privatization of state minority shares in various businesses, according to a report of the 24 Chasa daily. The total of 125 315 shares have a nominal value of BGN 1, and are owned by...


EUR 40 M OFFICE COMPLEX, HILTON GARDEN INN TO BE BUILT IN SOFIA

EUR 40 M OFFICE COMPLEX, HILTON GARDEN INN TO BE BUILT IN SOFIA

Topics: Real Estate

A new office complex with a Hilton Garden Inn hotel will be opened in Bulgaria's capital Sofia in the third quarter of 2011, according to reports. About EUR 40 M will be invested in the BLU Offices & Hilton Garden Inn complex, reported Bulgarian business news site investor.bg citing IHM OOD, the investor in the new development. The new office and hotel complex will be located on the Brussels Blvd very close to the Sofia International Airport. The first Hilton Garden Inn-branded hotel in...


BULGARIA PROPERTIES 13TH MOST ATTRACTIVE TO BRITISH BUYERS

BULGARIA PROPERTIES 13TH MOST ATTRACTIVE TO BRITISH BUYERS

Topics: Real Estate

Bulgaria has made it to the thirteenth spot in a new ranking of property markets, which remain popular for foreign mortgages among Britons. The Bulgarian market has attracted 1.3% of the searches for properties abroad at the site of Rightmove Overseas in January, while their number increased by 40,5% over December. Britons continue to be attracted most by the idea of taking out a foreign mortgage for a property in Spain, the ranking shows. Australia, New Zealand and Canada have...


BULGARIAN RESIDENTIAL PROPERTY PRICES STABLE

BULGARIAN RESIDENTIAL PROPERTY PRICES STABLE

Topics: Real Estate

Residential property prices in Bulgaria have stabilized around the level from last year, while the volume of transactions has begun to increase. According to the Bulgarian National Radio (BNR), the market is driven by buyers who spend between EUR 45 000 and EUR 65 000 for property, real estate agents said. Russians are the main players on the Bulgarian property market, BNR informed. Last year, real estate prices dropped by 25-30% and these are the levels around which the market will...


CLEVES LAUNCHES MAJOR LUXURY RENTAL BUILDING IN SOFIA

CLEVES LAUNCHES MAJOR LUXURY RENTAL BUILDING IN SOFIA

Topics: Real Estate

Cleves, the luxury apartment rentals company, opened on Tuesday Sofia's most expensive rentals project – Cleves Este, a sumptuous 34-apartment building in the Iztok quarter costing over EUR 10 M. The development was nominated for Bulgaria's "Building of the Year" competition last year. Sofia airport is 10 minutes away by car, and the Interpred Metro station (Joliot Curie) is only 200m away for fast access to Sofia city centre. EUR 2 M has been spent on the fit-out, furnishing and...


BULGARIA'S LARGEST MALL TO POP NEXT TO 1ST IKEA STORE

BULGARIA'S LARGEST MALL TO POP NEXT TO 1ST IKEA STORE

Topics: Real Estate

The breaking ground for the largest so far shopping mall in Bulgaria will be made in June 2011, in the area of the southern loop of the capital Sofia's beltway. The news was reported Wednesday by the Minister of Regional Development, Rosen Plevneliev, who, together with the Mayor of Sofia, Yordanka Fandakova, inspected the construction of the road junction "Simeonovo" to the "Mladost" junction on the beltway. The mall will have an area of 180 000 square meters and the investment amount is...


SOFIA CITIZENS TO ENJOY 5 NEW SHOPPING MALLS BY 2013

SOFIA CITIZENS TO ENJOY 5 NEW SHOPPING MALLS BY 2013

Topics: Real Estate

Five more shopping malls will open doors in Sofia in the next 2-3 years, according to real estate company GVA Sollers Solutions. Construction works have already begun for three of them. The mall in the Lozenets district of Sofia is currently at the most advanced stage. Its name is "Paradise Center" and it is expected to be the largest mall in Bulgaria. It is expected to have a built-up area of more than 170,000 square meters, with commercial area of 75,000 square meters. At present,...


BULGARIA'S RESIDENTIAL PROPERTY PRICES DOWN 33% IN 2 YEARS

BULGARIA'S RESIDENTIAL PROPERTY PRICES DOWN 33% IN 2 YEARS

Topics: Real Estate

The average price of residential properties in Bulgaria is down by over 33% compared to the market peak in 2008, data of the National Statistics Institute (NSI) and the Registry Agency shows. The number of real estate transactions in 2010 compared to 2007 is down two times; building permits and new buildings are down as well, while the number of default loans is up. The average price per square meter in 2010 has been BNG 964 with properties being the most expensive in Sofia (BGN 1596) and...


INDUSTRIAL ZONES OCCUPANCY IN SOFIA UP BY 40% IN 2010 Y/Y

INDUSTRIAL ZONES OCCUPANCY IN SOFIA UP BY 40% IN 2010 Y/Y

Topics: Real Estate

The occupation of industrial zones in the Bulgarian capital increased by 40% in 2010, according to an analysis by the consultant company Forton International. The data from the analysis shows that the modern industrial zones in the region of Sofia increased by 27%, in comparison to the end of 2009, and are currently more than 538,000 square meters. The beginning of 2010 set the start of a smooth decrease in the level of occupancy of industrial zones in Sofia. In the third quarter of the...


BULGARIA SELLS PROPERTY IN BONN, STARTING PRICE EUR 2.4 M

BULGARIA SELLS PROPERTY IN BONN, STARTING PRICE EUR 2.4 M

Topics: Real Estate

Bulgaria's government has decided to put up for sale a state-owned property in the German town of Bonn, saying it has gone out of use after the relocation of the embassy in Berlin. At the moment Bulgaria houses its diplomatic bureau in Bonn, but the slot it owns there, spreading over 3099 square meters, is too large for it, the government said. The starting sale price has been set at EUR 2.4 M. Bulgaria's state-owned properties in Germany has often caused tensions to flare up. At the...


BULGARIA'S SOFIA TOPS REAL ESTATE PRICES DROP IN EUROPE

BULGARIA'S SOFIA TOPS REAL ESTATE PRICES DROP IN EUROPE

Topics: Real Estate

Sofia is the capital with the biggest drop of real estate prices in Central and Eastern Europe for 2009, according to analysis of the consultant company ERA Europe. Compared to 2008, last year the real estate prices in Sofia dropped by 22%, putting the Bulgarian capital at the top of the list for the region. According to the analysis, compared to the whole Europe, Sofia ranks third, left behind only by Dublin and Lisbon, which registered a 26% and 24% drop of real estate prices in...


EQUEST SELLS SOFIA CINEMA SITE URVICH TO BULGARIAN REALTOR

EQUEST SELLS SOFIA CINEMA SITE URVICH TO BULGARIAN REALTOR

Topics: Real Estate

Trans Balkan Investments Limited, known until recently as Equest Investments Balkans Limited, announced it has signed a preliminary agreement for the sale of Urvich, the former cinema site, with an unnamed Bulgarian real estate development company. The deal was inked on 6 October 2010, the company said without disclosing its financial parameters. Trans Balkan Investments Limited (TBIL) has been offloading assets from the portfolio of companies it owns in Bulgaria, including a few former...



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