Sat, Nov 21 2009
Varna-based Foros real estate company, with about 15 years of experience on Bulgarian property market, announced the start of its franchise project at a news conference held on April 3.
Established in 1993, Foros agency is currently one of the largest players in the sector, with 13 offices countrywide: in Sofia, Plovdiv, Varna, Bourgas, Rousse, Veliko Turnovo, Dobrich, Balchik, Bansko and Slunchev Bryag (Sunny Beach).
The franchise concept was elaborated in partnership with Lloyd Tarbutton, chairman of the International Franchise Association since 2003, Foros manager Dobromir Ganev told journalists.
After the initial real estate upsurge, experienced in the last four-five years on Bulgaria's infant property segment, the market has shifted to maturity, growing more structured and differentiated, Ganev said.
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?