Equest Investments Balkans Ltd (‘EIB’ or the ‘Company’), the specialist investment company focused on retail and financial services, infrastructure and property development in South Eastern Europe, today announces the acquisition of a strategic 33.5% indirect equity holding in Rila Samokov 2004 AD (“Rila Samokov”), the company which is the land owner and principal developer of a large scale development project in the Borovets mountain resort area in Bulgaria. Following this announcement, the Company now has investments in 9 companies in South Eastern Europe. Read more…
Bulgarian Property & Real Estate News
The Sultan of Oman buys into Super Borovets
The state fund of Oman has acquired a 33.5% stake in the Super Borovets property project. His Majesty Sultan Qaboos bin Said of Oman will participate in the development of a luxurious winter resort called Super Borovets in the Bulgarian Rila mountains. The State Fund of Oman has bought a 33.5-percent-stake in the project from the Rila Borovets 2004 venture. The British investment fund Equest acquired 33.5-percent stake in the Super Borovets project. Read more…
Investment of 70m leva in Borovets ski resort
Borosport AD, the company managing the skiing facilities in the Bulgarian ski resort of Borovets, said it will invest 70 mln levs over the next 3 years in new ski runs, skiing equipment and installations for artificial snow. The size of the investment means the company qualifies for a First Class Investor certificate issued by the InvestBulgaria Agency. The combined length of the Borovets ski runs will be extended to 120 km over the investment period. The company will attempt to make the best of the skiing locations with altitude between 1,600 and 2,500 m where snow shortage, which has plagued many an international winter resort, is less of a problem. Read more…