 Three firms are competing to implement works on Sofia's ministerial buildings | Daily News 15:11 Mon 28 Apr 2008 - Elitsa Grancharova Three candidates are vying to execute repair works on ministerial buildings, Investor.bg reported on April 25.
The candidates have applied for participation under the Ministry of State Administration and Administrative Reforms (MSAAR) public order Repairs, constructions and installations works in buildings, holiday and recreational bases, developments and farms in Bulgaria. The firms are as follows: Elitstroy 2005 EOOD, EKSA AD and the consortium BKK-Terakom, MSAAR said.
In terms of weighing up their offers, the Ministry will consider the following issues: 60 per cent importance is given to the price the candidate offers, 20 per cent is given to the terms of execution of the work and the other remaining 20 per cent considers the experience and the reputation of the applicant company.
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13:00 Mon 18 Feb 2008 - Anelia Zaharieva
Dobrinishte resort has been attracting investor and tourist interest in recent years. Some see it as an alternative to the front-runner Bansko because of its reduced construction and the ski zone just above the resort, which includes a 5 km long piste - starting from Bezbog chalet and passing by Gotse Delchev lodge - as well as a two-seat lift and a number of drag-lifts. read more
10:30 Mon 18 Feb 2008 - Desislava Leshtarska
There was little new supply in the industrial market in Bulgaria during the second half of 2007, but several larger projects are expected to start delivering new space in the first half of 2008, Colliers International latest report says.
"Only Romania has a developed industrial property market read more
10:00 Mon 18 Feb 2008 - Elitsa Grancharova
On February 14, the civil group Daspasimirakli.org (Lets save Irakli), lobbying to stop all construction along the Black Sea coastal site of Irakli, organised the longest kiss in the history of environmental protection and the most ecological kiss in the history of St. Valentine's Day. read more
16:30 Fri 15 Feb 2008
After the abrupt housing price rises of recent years, the residential market in the euro zone is cooling off and will gradually return to normal, according to the monthly bulletin of the European Central Bank.
The annual growth rate of residential property prices for the euro zone as a whole was five per cent in the first half of 2007 read more
15:30 Fri 15 Feb 2008
Arco Invest Ltd, the Bulgarian subsidiary of Tallinn Stock Exchange-listed Arco Vara, concluded a 3.1 million euro contract with the construction company Glavbolgarstroy-Sofia Jsc for the construction of the second stage of the Madrid project, which includes the buildings interior.
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15:18 Fri 15 Feb 2008
Work on the Black Sea Golf & Country Club development in the coastal village of Kableshkovo has been suspended. The decision was taken because the Pomorie municipality and NGB Consulting are still arguing over the participation of the local government in Cabland, the joint venture specially incorporated for the purposes of the project.
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14:30 Fri 15 Feb 2008 - Desislava Leshtarska
Dutch TKP Pensioen Real Estate Fonds (TREF), which claims to be the biggest property fund in Europe with investments of more than one billion euro, has declared its interest to invest in Bulgaria, investor.bg quoted the head of real estate investment at TKP Investments, Robert-Jan Tel, as saying.
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14:00 Fri 15 Feb 2008
The Irish Sandymount home of missing solicitor Michael Lynn is to be sold at public auction, a court heard on February 11, the Irish Independent Daily reports.
Number 20 St Albans Park, the Dublin family home of Mr Lynn and his wife, Brid Murphy, is the subject of a number of claims from banks read more
13:00 Fri 15 Feb 2008
DTZ Corporate Finance, a part of DTZ consultancy, has launched a fund to grant European institutional investors access to Brazils fast-growing real estate market, PropertyEU reports.
The fund was incorporated by Monteiro Aranha, a listed Brazilian holding company read more
12:00 Fri 15 Feb 2008
A new high-rise office building will be erected next to Kempinski Zografski hotel - at 10 Zlagen Rog St. The complex will have 34 ground levels and nine underground ones and will feature a panoramic view lift, a helipad and an underground parking, served by two automobile elevators.
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11:40 Fri 15 Feb 2008 - Desislava Leshtarska
The EU's richest people live in Inner London, while the poorest live in Bulgaria, Romania and Poland, the Daily Telegraph reports, quoting Eurostat latest research.
The three leading regions (figures are based on 271 regions' GDP in EU 27 countries) in the ranking of regional GDP per inhabitant in 2005 were Inner London (303 per cent of the average), the Grand Duchy of Luxembourg (264 per cent) and Brussels (241 per cent), the Daily Telegraph reports. read more
The three leading regions (figures are based on 271 regions' GDP in EU 27 countries) in the ranking of regional GDP per inhabitant in 2005 were Inner London (303 per cent of the average), the Grand Duchy of Luxembourg (264 per cent) and Brussels (241 per cent), the Daily Telegraph reports. read more
11:00 Fri 15 Feb 2008 - Desislava Leshtarska
Bulgaria has turned to golf, a sport not too popular in the country until now, looking to attract affluent tourists, AFP reported on February 14 2008.
"Golf tourism development is very important - the regular tourist usually spends from 50 to 100 euro a day, while the golf tourist would rather spend from 400 to 500 euro," according to Kuncho Kunchev, an investor in the Black Sea Rama golf complex in Balchik, quoted by AFP. read more
"Golf tourism development is very important - the regular tourist usually spends from 50 to 100 euro a day, while the golf tourist would rather spend from 400 to 500 euro," according to Kuncho Kunchev, an investor in the Black Sea Rama golf complex in Balchik, quoted by AFP. read more
17:51 Thu 14 Feb 2008
By the end of 2007 the total inventory of contemporary logistics and industrial large-size projects in Sofia and the region accounted for about 1 200 000 sq m, with only 165 000 sq m of speculative space. Stock remained basically unchanged in the second half of 2007, and a total of approximately 70 000 sq m is currently under construction (of which only 22 500 sq m is speculative) to be delivered in the first half of 2008. read more
17:12 Thu 14 Feb 2008 - Desislava Leshtarska
Bulgaria's coastal resort of Albena is to be officially presented in 18 of the biggest Romanian cities in a bid to attract more tourists, Darik radio reports. read more
16:43 Thu 14 Feb 2008
In terms of modern retail space, Bulgaria is still relatively under-supplied with an average shopping mall ratio of 15 sq m a 1000 capita.
In Sofia this ratio is 60 sq m against 1 000 inhabitants, which is still relatively low. By comparison, the average ratio for Europe is 182 sq m a 1 000 inhabitants and the corresponding figures for Bucharest and Belgrade are 71 sq m and 37 sq m, accordingly. read more
16:21 Thu 14 Feb 2008
Office supply in the region experienced significant increase in the second half of 2007. As of the end of 2007 Class A office inventory in Sofia stood at 369 600 sq m, in Bucharest 608 200 sq m, and Belgrade 244 200 sq m. The segment saw record absorption levels. Exceeding all expectations for 2007, in Sofia it reached 161 000 sq m. read more
16:02 Thu 14 Feb 2008
In the second half of 2007 the growth of office supply in Sofia continued its upward trend of recent years and registered 16 per cent growth compared to the middle of the year, adding about 98 000 sq m of office space, according to the latest Colliers Bulgaria research, the H1 2008 Office Market Overview. read more
14:00 Thu 14 Feb 2008 - Anelia Zaharieva
Unlike other real estate sectors, where location, construction quality and infrastructure dictate the market, in Bulgarian mountain resorts the client is the crucial arbiter of prices. Currently, around 90 per cent of winter holiday property buyers in Bulgaria are foreign entities. read more
12:30 Thu 14 Feb 2008 - Desislava Leshtarska
Anelia Kroushkova, head of Bulgaria's State Agency for Tourism, has asked for a new law on tourism that will put an end to irresponsible and uncontrolled construction in Bulgaria's resorts, Standart daily reported on February 13 2008.
Kroushkova wants a working group with the Regional Development and Public Works Ministry to develop new requirements for the density of construction and buildings' height. read more
Kroushkova wants a working group with the Regional Development and Public Works Ministry to develop new requirements for the density of construction and buildings' height. read more
11:30 Thu 14 Feb 2008
Obelisk says Sofia property investments are attracting the attention of Hollywood celebrities and pop icons, prompting the emergence of a new luxury market. Cheap holidays, cheap skiing, cheap flights, cheap food and drink, and of course cheap property - 'Cheap' has been the main attraction for British investors buying into Bulgaria. read more
11:09 Thu 14 Feb 2008
Pension funds have called on the Government to allow them to finance large infrastructure projects. The money will derive from ongoing commitments to pension schemes. Pension funds argue that in this way money will remain in the country and socially insured people will have substantial revenues. read more
10:28 Thu 14 Feb 2008 - Anelia Zaharieva
Spanish investor Riofisa presented on February 13 its 270-million euro worth multifunctional project for a retail compound - to be named CIVIS CENTER. The complex will be erected near Sofia's central railway and bus stations and will improve the infrastructure and environment in this region of the city. read more
17:30 Wed 13 Feb 2008
London still heads the world chart of cities with the most expensive rentals of office and industrial areas, according to the latest survey from international consultancy King Sturge.
Monthly office rentals in London's West End currently average 180.58 euro a sq m and those in the City of London are at 112.25 euro a sq m.
Moscow, Paris and Dublin are among the ten most expensive cities in the world. read more
Monthly office rentals in London's West End currently average 180.58 euro a sq m and those in the City of London are at 112.25 euro a sq m.
Moscow, Paris and Dublin are among the ten most expensive cities in the world. read more
17:15 Wed 13 Feb 2008
Foreign entities, both individuals and business clients, will now be able to buy property in Macedonia under similar contract terms, market conditions and prices to Macedonian property buyers, reports the Macedonian Utrinski Newspaper daily. read more
17:00 Wed 13 Feb 2008
An apartment near Milans centre cost seven average annual salaries in 2000. But, currently, it costs 11 years. Since earnings have not changed much over the eight-year period, it means that housing prices have rocketed, reports the Italian publication Corriere Economia.
Lending conditions have also deteriorated. read more
Lending conditions have also deteriorated. read more
15:00 Wed 13 Feb 2008 - Desislava Leshtarska
Atlas Estates Fund has announced plans to invest 215 million euro in Bulgaria.
The fund currently researches Bulgaria's investment potential.
The fund would develop its own property projects rather than invest in exciting ones, investor.bg reports. read more
The fund currently researches Bulgaria's investment potential.
The fund would develop its own property projects rather than invest in exciting ones, investor.bg reports. read more
15:00 Wed 13 Feb 2008
Housing prices in Radomir grew by 70 per cent in 2007, according to realtors, Bulgarian news agency BTA reported.
The small town, around 40 km south-west of Sofia, attracts buyers with its proximity to the capital city and low residential prices. read more
The small town, around 40 km south-west of Sofia, attracts buyers with its proximity to the capital city and low residential prices. read more
14:22 Wed 13 Feb 2008
More investors in apartment compounds in Bansko legalise their projects through the central Directorate for National Construction Supervision (DNCS) due to lower taxes, Bansko mayor Alexander Kravarov said in an interview with Pari daily. read more
14:00 Wed 13 Feb 2008
The modern warehousing market in Budapest consists of 1 300 670 sq m. In 2007, 166 670 sq m of new warehouse space were completed. Modern industrial unit developments started in the mid 1990s. As a consequence most warehousing stock has been built over the last decade. Large international investors/developers such as ProLogis, Segro and Hungarian developers like Wallis, H.I.D. and Waberers dominate the development market read more
13:00 Wed 13 Feb 2008
FIA Bulgaria decided to extend the period for its capital increase until March 24, Dnevnik Daily reports.
FIA Bulgaria offers investors 525 000 shares at a face value of one lev and issue price of 9.31 leva a share. read more
FIA Bulgaria offers investors 525 000 shares at a face value of one lev and issue price of 9.31 leva a share. read more
12:00 Wed 13 Feb 2008 - Anelia Zaharieva
Bulgaria ranked third in the world in terms of property price growth in 2007. Average sale real estate prices rose by 36 per cent last year, whereas rentals posted a more modest mark-up of 6 to 7 per cent nationwide, reaching 10 per cent in Sofia. These figures were revealed by Deyan Kavrukov, a head of Bluehouse equity fund and a former partner in Equest, in an interview with BNT. read more
11:31 Wed 13 Feb 2008
Local real estate investment trusts are accruing assets but some of them will fail to improve their 2006 performance, according to their 2007 financial reports. Among the bigger REITs, Advance Terrafund is the only one to finish the year in the red, sliding to a loss of 874 000 leva. read more
11:00 Wed 13 Feb 2008
Bed capacity in the Bulgarian ski resort of Pamporovo has increased from around 2 000 in the year 2000 to a current total of 15-20 000.
The municipalities of Smolyan and Chepelare each have jurisdiction over a certain section of the resort and issue building permits for lands in their remit. read more
The municipalities of Smolyan and Chepelare each have jurisdiction over a certain section of the resort and issue building permits for lands in their remit. read more
17:00 Tue 12 Feb 2008 - Anelia Zaharieva
A conference on self-regulation versus EU directives was held in Brussels on January 30. It was held by the European Confederation of Real Estate Agents CEI with the active participation of the Austrian industry union OVI and Vienna-based Standards Institute. read more
16:00 Tue 12 Feb 2008
Agricultural land opportunity fund Mel Invest REIT - Sofia will double its capital through the issuing of slightly over 14 million new shares, the company's board of directors decided. The issue value of the shares is set at 1.1 leva a piece. At least two million shares will have to be subscribed and paid for the capital raise operation to be rendered successful. read more
15:00 Tue 12 Feb 2008
Bulgarian banks increased interest rates on loans very slightly last week. The changes have not been officially announced. read more
14:30 Tue 12 Feb 2008
The first shopping centre in the ethnic Albanian-majority area of southern Serbia, Interspeed Shopping Center in Presevo, is set to open this summer. Interspeed Shopping Centre will have a total area of 19 000 sq m and a retail area of 12 650 sq m with 84 units. It will feature a supermarket, fashion stores, electronics stores, cafes and restaurants and a gas station. read more
14:00 Tue 12 Feb 2008 - Anelia Zaharieva
Four companies put up their shares on the Bulgarian Stock Exchange (BSE) on February 11.
The kitchen equipment manufacturer Torgoterm Jsc started a secondary trade with its new share flotation amounting to three million leva.
Three other companies - PRC REIT, Nov Vek Holding Jsc and Properties Capital Investments REIT, also put up their shares for trade. read more
13:30 Tue 12 Feb 2008 - Alex Bivol, www.sofiaecho.com
CB Richard Ellis Group Inc, а leading global commercial real estate brokerage, said on February 8 it would buy Romanian firm Eurisko Consulting, the largest independent commercial real estate company in the country, for 35 million US dollars, subject to a post closing audit. read more
13:06 Tue 12 Feb 2008
Colliers International, the biggest international property consultancy in Southeast Europe, is holding the launch party for the inauguration of its new Podgorica office on February 12. Colliers International Southeast Europe has been instrumental in developing the largest and market-defining projects in the countries in which it operates read more
13:00 Tue 12 Feb 2008 - Desislava Leshtarska
UK-based New Europe Property Investments has announced it has purchased two Romanian real estate companies from Central Eastern European Real Estate Shareholdings for about 46.3 million euro ($67.4 million). The two companies, General Investment and General Building Management, jointly own a portfolio of 18 properties situated in various Romanian cities. read more
12:30 Tue 12 Feb 2008 - Desislava Leshtarska
The Bulgarian branch of Hilti, a leading international company for construction innovations, is the first tenant at Sofia Airport Centre (SAC), a joint project of the US Tishman International and GE Real Estate. Hilty signed a five-year contract for the lease of office and warehouse premises for an undisclosed sum. read more
12:00 Tue 12 Feb 2008 - Desislava Leshtarska
Real estate agencies expect the upward trend of house prices in Bulgaria to continue in 2008, albeit at a slower pace, Kapital Weekly reports. The largest residential properties market, Sofia, will not reach saturation point soon. "I believe that price growth will slow down, but there is no chance of prices dropping because the market is still in a desperate need of homes," read more
12:00 Tue 12 Feb 2008 - Desislava Leshtarska
The average sale price for a sq m of residential property in Bulgaria reached 1090 leva in 2007, a 30 per cent increase on the previous year's 840 leva. The overall price hike of residential properties for the last three years was 300 per cent, Kapital weekly reported. read more
11:00 Tue 12 Feb 2008 - Alex Bivol
Bulgarian Prime Minister Sergey Stanishev has rolled back the plans to set up a state-owned company that would design, build and operate golf courses in the country, Dnevnik daily reported on February 10 2008. read more
17:37 Mon 11 Feb 2008
BG Agro, the Varna-based company active in the production and trade of grain and agricultural commodities, said in a filing that the stock market downturn has forced a delay in its plans to list on the Sofia exchange. read more
16:32 Mon 11 Feb 2008
The number of Bulgarians that have taken out loans in excess of 1 million leva increased to 77 by the end of 2007, up from 35 a year ago. The average amount per loan has increased to 1.964 million from 1.5 million leva. read more
16:08 Mon 11 Feb 2008
NewYorker, the German youth apparel maker, has signed a lease for the Valentina retail center in Varna, said Ivan Ivanov, executive director of store owner Valentina 200. The German company is leasing 1 500 sq m of retail floor space and over 400 sq m of storage facilities for a period of 10 years. read more
16:02 Mon 11 Feb 2008
The fund of Bulgarian banker Tsvetelina Borislavova, CSFI, plans to invest about 500 million euro in real estate, renewable energy, industrial manufacture and financial services over the next five years, said Martin Ganev, chief executive director of the investment vehicle. read more
15:00 Mon 11 Feb 2008 - Alex Bivol, www.sofiaecho.com
Pamporovo AD, the company that manages Pamporovo resort in Bulgaria, plans to extend its ski area to the village of Stoikite with the construction of three-kilometre six-seater chair lift.
It has already received the environmental impact assessment from the environment ministry and estimates the costs of the project at 13 million leva, investor.bg said. read more
It has already received the environmental impact assessment from the environment ministry and estimates the costs of the project at 13 million leva, investor.bg said. read more
14:00 Mon 11 Feb 2008
Two taxes in Bulgaria's capital will be increased, Sofia Deputy Mayor Minko Gerdjikov said on Friday, February 8. Tax on real estate will increase from 1.5 per cent per thousand to 2 per cent per thousand and tax on vehicles will increase by 25 per cent. read more
13:31 Mon 11 Feb 2008
Domestic credits growth hit a new record in January as compared to the previous month, local credit consultants said. Data of Credit Center shows that the average size of credits drawn out in January 2008 were worth 46 800 euro, marking a 20 per cent increase on December 2007. read more
13:00 Mon 11 Feb 2008 - Desislava Leshtarska
Invest Property REIT sold a property in Vratsa for 1.6 million leva to local company Ben Blick SP Ltd.
Invest Property derived a 670 000 leva profit from the deal.
The property is a 13 615-sq. m land plot regulated for industrial development. read more
Invest Property derived a 670 000 leva profit from the deal.
The property is a 13 615-sq. m land plot regulated for industrial development. read more
12:00 Mon 11 Feb 2008
As the world's strongest property market in 2007, Bulgarian property investment has made a huge 2.36 billion euro increase on 2006 figures and is maintaining momentum for 2008, according to global investment specialist Obelisk.
Bulgarias property investment has proven to be the country's economic driver with a record-breaking turnover of 11.36 billion euro in 2007. read more
Bulgarias property investment has proven to be the country's economic driver with a record-breaking turnover of 11.36 billion euro in 2007. read more
11:00 Mon 11 Feb 2008 - Anelia Zaharieva
The purchase of a two-room apartment in Sofia pays off in about 15 years, according to Industry Watchs calculations for the fourth quarter of 2007. Only three months before, i.e. the third quarter of last year, a similar investment paid off in 13 years and at the end of 2006 the repayment period was 10 to 11 years. read more
17:00 Fri 08 Feb 2008
Bulgarian Land Development Plc (BLD), the AIM-listed Bulgarian residential and commercial property development company, announced that Kavarna municipal council has approved the change of planning use, enabling the company to create an 80 000 sq m holiday complex with expected gross sales value of 100 million euro. The development will be carried out in four phases. read more
16:00 Fri 08 Feb 2008
The amount payable in monthly instalments is a crucial factor for Bulgarian borrowers when they come to select a mortgage loan product, according to local consultancy Credit Center. The company reached its conclusion by appraising the increase in the average mortgage loan maturity recorded by the end of January. read more
15:00 Fri 08 Feb 2008 - Anelia Zaharieva
Real estate investment trusts are becoming more attractive to investors, says Manyu Moravenov, managing director of FairPlay Properties (FPP). Moravenov gave more information on the fund's two ongoing projects - a residential complex and office building in Studentski grad, comprising retail areas, as well as a housing compound near Sofia's ring road in the southeast of the city. read more
14:00 Fri 08 Feb 2008 - Anelia Zaharieva
Supply of high-quality class A and B++ office space in 2007 was limited. Demand, by contrast, remained high, surpassing 2006's levels, said Krassimir Dimitrov, managing partner in Source Real Estate Advisers Ltd. (SREA). The office market in 2007 was dynamic, he added. Sale prices grew by 35 to 40 per cent. read more
