Greek customers on Bulgarian properties market

Posted on 03.06.2008 by Bulgarian Properties

For the last two years Greece has indicated signifficant increase in its position in Bulgarian properties market. Greek investors and private individuals have practically “invaded” several Balkan markets, announced Greek business newspaper Imerisia.

Numerous Greek construction companies have been building residential, office and retail complexes all across Albania, Bulgaria, Croatia, Romania and Macedonia. Private individuals, on the other hand, are still purchasing houses and apartments both for recreation or subletting.

Greek buyers are mostly interested in coastal Bulgarian properties around Varna and Bourgas, as well as the ski developments in Bansko. As Bulgarian property investors, Greek customers find prices in Bulgaria affordable, compared to those in Greece and other Balkan countries.

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New Sofia Mall to be constructed

Posted on 03.06.2008 by Bulgarian Properties

Austrian realty investment company Meinl European Land and Dutch “Multi Development” (subsidiary of “Multi Corporation”) are going to initiate this year their first mutual Bulgarian estate project. They are going to construct a new “Forum Sofia” Mall on the Sofia ringroad near the Business park.

Constructon start date has not been said, but it is expected to start in Autumn this year. Completion is due in two years time.

The complex will include a hypermarket, a “do-it-yourself” outlet and many other stores with total area of 35 000 sq.m, several restaurants and cinema theatres. “Forum Sofia” will be constructed on a 180 000 sq.m landplot and the total built-up area will be more than 85 000 sq.m with 3800 parking spots.

Dutch-based “Multi Corporation” has a longstanding presence in 20 European countries, as well as in Romania, Greece, Hungary and Turkey. Specialised in commercial estates and mainly in shopping centres and malls, the company has been awarded by the International Council of Shopping Centres for its developments all across Europe.

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One more country on the gas pipeline project

Posted on 02.06.2008 by Bulgarian Properties

Greece has signed today in agreement for participating in the gas-pipeline project “Southern Stream”.
After the Greek officials announced last week their intentions to join the project, the Prime Minister Kostas Karamanlis, it is now all official. Russian Energy Minister Viktor Hristenko and the Greek Minister of Development signed earlier today in Moscow Kremlin the agreement which will allow the pipeline to be constructed and used on the territory of Greece.

The pipeline project is a joint initiative of the Russian “Gasprom” and Italian “Eni”. The cost is estimated at 10 billion Euro and is expected to operate as of 2013. The whole project requires 900 km of pipes to be installed on the Black sea bed between Bulgaria and Russia. On Bulgarian territory, the route will probably divide into two directions – one to the north providing gas to Romania, Hungary, Austria and Slovenia, and another to the south for Greece and Italy.

The project is of vital importance to Bulgaria’s economy as it will serve as a junction point of the pipeline route.

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