Mon, May 21 2012
Spanish construction company Bogaris, formerly known as Grupo Detea, would invest 15 million euro in the industrial park in Slatina area of Rousse, local authorities said, as quoted by Dnevnik daily.
The company would design and build manufacturing, storage and office premises, Dnevnik daily reported.
Bogaris was already investing 680 million euro in real estate projects in Romania. "We are looking for industrial land, but we have problems finding them at the right price because the industrial market is developing," general manager Alfonso Otero told The Diplomat magazine in Bucharest. "I have the impression that there is a lot of land for sale in Romania but few transactions."
Another Spanish company, Keros Ceramica, was already building a ceramics factory in the Rousse's industrial park in Slatina.
Austere economic conditions in Romania and Greece contribute to companies' shift towards Bulgaria
Worst is over for Bulgaria's property market after three years of decline, reports by Yavlena and Bulgarian Properties real estate firms claim.
Draft law envisages professional association for real estate agents and a public register of real estate companies to bring order to the business and get rid of rogues and rip-off artists.
Landmark Centre Varna’s financial reports show its largest debt is an investment loan of 6.9 million euro issued by Eurobank EFG Bulgaria in mid-2008 and secured with a mortgage.
Average market prices of homes in Sofia fell by one per cent in the fourth quarter of 2011 compared to the same period of 2010, according to the Raiffeisen Real Estate Index, as quoted by Klasa daily.
Proportionately, the number of transactions in leva increased as people reacted to speculation that the euro would disappear.