Sun, Nov 22 2009
Logistics Park Varna got a first class investor certificate on April 25.
The centre is being set up in the industrial zone of the coastal city of Varna. Upon completion it will have built up area of over 80 000 sq m. The centre will have storage areas, office space and retail centres meeting international requirements.
FairPlay International and Bulgarian Property Developments feature among the project investors.
Construction works started a month ago, mediapool.bg reported. The project will be carried out in three phases.
According to plans, the first phase should end by March 2008.
First class investor certificates guarantee companies state aid for infrastructure developments related to the project.
The Black Sea town of Pomorie has approved a proposal for the construction of a spacious and modern marina, with a capacity of over 600 yachts and small passenger ships.
Over the course of a year, from one of the leaders in Europe in new construction, Bulgaria became one of the countries currently quagmired at the bottom of the table and was now amongst the three worst hit countries, along with Romania and Slovenia.
The park is posed to act as an economic stimulant in the region, creating a modern infrastructural base for companies. It is set for completion by Q3 of 2010.
Both retailers target at least 50 outlets in Bulgaria by the end of 2010.
When will Bulgaria’s real estate and construction sector recover?