Real estate investment trust BenchMark Fund Estates has signed a preliminary contract for the purchase of a 9,000 m2 development plot in the Bulgarian ski resort Borovets. The company plans to build a luxury Bulgaria apartments complex with a total built-up area of approximately 12,000 m2. Building will begin within the next 3 months and should be finished by mid-2009.
Read more…
Bulgarian Property & Real Estate News
BenchMark Fund invests in development plot in Borovets ski resort
Go Ahead for 3-Tier Super Borovets Project
The mega-project, called Super Borovets, in the Rila mountain, was given the final go-ahead with a ground-breaking ceremony on Monday after years of controversies. The enormous complex will encompass the towns of Samokov and Beli Iskar and will expand one of Bulgaria’s most popular skiing resorts. The ground-breaking ceremony was attended by Prime Minister Sergey Stanishev, former king and former Prime Minister Simeon Saxe-Coburg, as well as Oman’s Sultan and Prime Minister Qaboos bin Said al-Said, who is one of the main investors in the ski property project. Read more…
Borovets resort expansion kicks off with construction of new gondola
The much awaited expansion of the Bulgarian ski resort of Borovets, named the Super Borovets project, is set to finally get underway in early October this year with the construction of a lift connecting the city of Samokov with the Markudjik ski runs.The news was produced by Tuesday’s meeting of the board of Rila-Samokov 2004 AD, the project company that owns 2 mln sq m of land in Bulgaria’s Borovets mountain area for further development into residential second homes and associated infrastructure. Read more…
Equest Balkan acquires stake in Super Borovets
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…
Ski home bargains in Bulgaria property
The Bulgarian property market has been receiving more good press this week, with Bulgarian properties around the popular ski resorts given particular praise.
Writing for the Telegraph, Nicola Venning also pointed out that property investors can find surprisingly good deals in Spain, where Europe’s most southerly ski resort can be found in the Sierra Nevada. The idea of buying a ski property in Spain may seem incongruous and many investors will understandably stick to more recognised property investment locations including the Costa del Sol and Murcia. Read more…