Sat, Nov 21 2009

Real estate developer Equest Balkan Properties has recorded a loss of 9.5 million euro before-tax loss in the first half of 2008, compared to a 9.7 million profit recorded in the first six months of last eyar, on the back of rising finance costs, operating and administrative expenses, as well as falling valuations of its assets, the company said in a statement filed with the London Stock Exchange, where it is listed on the alternative investment market.
A sharp drop in the number of sales of holiday homes on the Black Sea and ski resorts is expected by the end of this year, Pari daily has said, quoting various real estate agencies. However, it is hard to forecast because there are no unified statistics about the market. Lux Imoti (Luxurious Estates) expects to strike 30-40 per cent fewer deals on Black Sea properties and 80-90 per cent fewer deals on mountain
Participants in the Real Estate and Investment Forum held at the Sheraton Hotel in Sofia from May 30 to June 2 heard a wide variety of messages, some encouraging, and some causing concern. During a discussion on the environment for investors in South Eastern Europe, Canada's trade commissioner in charge of Bulgaria, David McGregor, said that Bulgaria's business environment had "a pretty good story to
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?