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Bulgarian Property & Real Estate News

The expansion of Borovets ski resort begins

The long awaited development of Borovets ski resort is due to begin on Monday with the opening ceremony for the Super Borovets gondola connecting Samokov to the ski pistes at Markujik. The Super Borovets investment project has been modified to avoid the overdevelopment of cheap, low quality accommodation that has plague the other Bulgarian ski resorts of Bansko and Pamporovo.

According to Georgi Krumov (the director of Bulgarian property investment fund Equest Balkan) the plan is to develop Borovets ski resort into an all season resort and target tourists both during winter and summer. The overall development plan for the new Borovets properties will allow a construction density of 20%. When complete the project will include less than 4,500 properties and the target is to avoid overdeveloping the area and destroying the local nature.

The project is planned in 2 stages with the first due to complete in 2 years with a total cost of 650 M euros. The first phase will mainly involve the construction of infrastructure items such as ski lifts, news ski pistes and building the infrastructure required to support the new ski apartments and chalets. Work on the new ski pistes is expected to start around April 2008 and the construction of the new accommodation including ski chalet and apartments should be finished by 2012.

If you are looking for Bulgarian real estate or off plan property in Borovets look no further than Concept Bulgaria.
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