Sat, Nov 21 2009
Construction in Studentski Grad (Students' town) borough will come to a complete halt in a matter of several weeks, Monitor daily reported, based on Sofia mayor Boiko Borissov and chief architect Petar Dikov's intentions to issue an ordinance to ban further construction of the area.
It is quite possible that this will be a temporary solution, and, as of now, it not clear when the ordinance would be implemented or how long it would be in effect, Monitor daily said. A random check in Studentski grad done by the newspaper in March revealed that there were close to 60 projects in the works and just as many planned to begin in the near future.
In May, Education Minister Daniel Vulchev called for a complete ban of all construction going in the area, because when the initial idea of Studentski grad was conceived, the place was meant to be a small student community, housed in dormitories.
According to Borissov, as quoted by the Monitor daily, the Sofia City Hall plans to ban construction in other boroughs in Sofia, without revealing which ones. On June 25, the mayor signed the first ever construction ban in Sofia's history, which will be in effect no longer than six months, or until the new city planning strategy is drafted. As of now, all building activities in the Mladost borough will also be frozen until indefinite time, Monitor daily reported.
Everyone who had bought property off plan in Mladost will have to wait until the new development plan for the area is approved, Borissov said, as quoted by the newspaper. Dikov had said that such plans would be ready by the beginning of July, but will be put for voting in the municipal council most likely in October.
Bulgarian Cabinet aims to change the Spatial Planning Act for building regulation, but is likely to spawn more confusion than ever before.
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?