Sun, Nov 08 2009

Kamchiya resort to receive heavy investment, mayor says

Mon, Mar 31 2008 16:29 CET bywww.propertywisebulgaria.com 226 Views

The resort village of Kamchiya, located 28 km southward from Varna, will attract significant investment to the tune of between 200 and 250 million euro over the next two or three years, Avren municipality mayor Krassimir Todorov said, as quoted by Bulgarian news agency (BTA).

The projected investment will add between 12 000 and 15 000 new beds to the capacity of the holiday compound, he added.

A new vacation complex will open doors in close proximity to Kamchiya village this year. It will deliver 200 apartments and 70 studios. Finance is secured by a British company, Todorov told media, without disclosing its name.

Investments will not be limited to tourism alone, with construction on the spaghetti factory in the nearby village of Zdravets due start in April, the mayor said. The investor is Korean company Sammi Sound Tech, which plans to export its produce to European markets.

Write comment

Name:Comment:

Generate new code
Send your comment

More in this category

Bulgaria business property deals contracted sixfold – Forton

Office rent transactions peaked at 65 000 sq m between July and September 2008, but collapsed to 10 700 sq m in Q3 2009, Forton manager Sergei Koinov said.

Luxury real estate prices in Bulgaria slump by 40% - study

Most potential buyers are now opting to buy a luxury flat in the range of 120 000 to 150 000 euro or a single family home for about 500 000 euro.

Bulgaria's construction sector facing 'survival year' in 2010 - Minister

About 30 000 to 35 000 people employed in the construction sector were facing redundancies in 2010, Bulgaria's Regional Development Minister Rossen Plevneliev said on October 26.

Housing prices in Bulgaria fell 28 per cent year-on-year – official

Average market prices of housing in Bulgaria dropped five per cent in July-September, measured quarter-on-quarter, the National Statistical Institute said on October 23 2009.

Key interchanges in Sofia will be constructed with European Investment Bank loan

The European Investment Bank (EIB) has released a 43.5 million euro loan to Sofia Municipality, for infrastructure projects worth 88.1 million euro in total

© 2000-2009, Sofia Echo Media Ltd.

Web Design by RIZN

Sofia Echo Media is part of the Economedia Group.
The news and information content on this website is provided by our editorial team and is copyrighted. Any unauthorised reproduction or use of it is strictly forbidden. Reproduction of this website's content is permitted only with prior written permission from the Editor-in-Chief, should be propertly acredited and provide an active link back to our site. Comments posted by the website's visitors are independent of the editorial materials and do not represent the views of sofiaecho.com. Sofia Echo Media cannot be held responsible for the statements contained in visitor comments. The percentаge change in the shares' prices are based on the price of the last transaction of the current session compared to the price of the last transaction of the previous session. Bulgarian Stock Exchange data is not real-time, but updated every 15 minutes, and should not be used as a basis for decisions about buying or selling stock options.