Sun, Nov 22 2009

The international consultant company Cushman & Wakefield revealed that Bulgaria is a European leader in terms of new construction completed for the first six months of 2009.
Sliven will have its first modern retail centre completed by October 26 2010.
"Construction works are earmarked to commenced in August, and according to the preliminary plans, the facility should be operational by November 2010," Mariela Ostend, investment director of the investor company ZBS Ltd has said.
Retailers prefer open-air malls because real estate taxes, utility costs and common area costs are much lower.
Developer ZBS plans to begin construction on the first open-air mall in Bulgaria in March 2009, website investor.bg reported on November 10. The investment in the new shopping centre is estimated at 30 million euro. The Strand mall would be built on a six ha plot near the highway to Sofia, next to a Baumax hypermarket, currently under construction. The open-areas will be built like pedestrian streets and will be covered in bad weather.
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?