Archive for the 'Bulgaria Property' Category

Bulgaria Increasingly Popular as Pilgrimage Destination

Bulgaria is expecting a 7% increase of pilgrimage tourist trips in 2012, according to the Director of the Institute for Tourism Analyses and Assessments, Rumen Draganov.

Draganov says the percentage would have been even higher, but the economic crisis and the parliamentary elections in neighboring Greece have reduced the number of Greek visitors at Easter time.

The number one tourist attraction is the Rila Monastery, with 780 000 visits a year, including from Bulgaria, Macedonia, Greece, Serbia, Italy, France, Spain and Russia.

The renovated St. St. Cyril and Methodius Cathedral in the historic coastal town of Sozopol, housing what are believed to be the relics of St; John the Baptist, has been visited by 250 000 people and is seen as Bulgaria’s newest pilgrimage tourist attraction.

Draganov says the trend of a stable 7% yearly increase in pilgrimage tourism has been noted since Bulgaria’s joining of the EU in 2007. There is an increased interest of tourists from Spain, Italy, Portugal and France. The pilgrims are only 1.8% of all foreign guests, but their expenses are 70% higher, compared to those of common holidaymakers.

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Bulgaria Eases Visa Rules for Loyal Tourists from Russia, Ukraine, Moldova

The citizens of Russia, Ukraine and Moldova who visited Bulgaria in 2011 will now receive visas easier.
As of July 1, Bulgaria’s consular offices in the aforementioned countries will issue annual multiple entry visas to all citizens who made a holiday or business trip to Bulgaria in 2011.
The candidates have to bring a photocopy of their 2011 visa.

As of January 2012, Russian holders of Schengen visas have been able to visit and stay in Bulgaria without Bulgarian visas.

Bansko grows in all-year-round appeal

 

Bulgaria‘s biggest mountain resorts have begun to make more investments in providing attractions for tourists in the summer.

The resort town of Bansko, for instance, that sits 150km south of Bulgaria‘s capital, Sofia, has seen lately a boom in offers for sports activities, including playing golf, biking and hiking tours, while cultural events have gone on apace.

Another favorite are the packages for spa holidays and “healthy holidays”, which include diet menus and light activities.

The formerly off-the-beaten-path destination had gone mainstream. Locals in Bansko are banking on a healthy mix of adventure and structure, lots of places to spend the time when you are active and alert, being chic, but without the ridiculous attempts to be consmopolitan that you often find at Bulgarian resorts.

 

EUR 120 M ‘Sofia Ring Mall’ to Be Completed July 2013

Bulgaria: EUR 120 M 'Sofia Ring Mall' to Be Completed July 2013

The future Sofia Ring Mall – which is to become Bulgaria’s largest retail and entertainment destination together with the closely located store of IKEA Bulgaria – is to be completed by July 2013.

The EUR 120 M shopping center will provide to its customers views towards the city and Vitosha Mountain and a lot of green areas.

This has been announced at a news conference in the Bulgarian capital Tuesday featuring represenatives of the two Greek investors Fourlis Group and Danaos Group as well as the project consultants Colliers International.

They have pointed out that the expansion of Sofia ring road, which is scheduled for the fall of 2012, will provide safe and easy access for the some 1.5 million residents of Sofia.

Sofia Ring Mall is scheduled to be completed by July 2013 and its opening is planned for the fall 2013.

It will feature a tenant mix of over 200 stores, including fashion and sport stores, entertainment facilities, a 10-screen cinema multiplex. More than 25 000 sq meters of gross leasable area are slated to anchor tenants and more than 20 000 sq meters to fashion brands. In total Sofia Ring Mall will have 69 000 square meters of gross leasable area, and 172 000 square meters of gross building area on 3 retail floors.

One of the biggest advantages of Sofia Ring Mall is that it’s a unique cluster of “big box” operators working in synergy with a classical “shopping mall” mix, making it and all-in-one offer catering all needs of visitors, the investors say.

The total investment of the project, including the land and the infrastructure which involves green spaces and assisting roads on the side, is exceeding 120 million EUR.

Some of the tenants that have already made contracts for retail space at the Sofia Ring Mall include Piccadilly; Yavor Furniture; Mr.Bricolage; Cine’Grand; Technomarket; Public.

During the presentation of the project Liberis Moschovitis, General Manager of Sofia Ring Mall, highlighted the regional character of the development and the new experience that will be offered to the visitors.

He noted that “the new retail destination in Sofia has been created to provide the important tenants mix, especially with the combination with IKEA making it a new retail destination in the country.”

“One of the strategic advantages of Sofia Ring Mall is its strategic location, convenient and easy access. Moreover, the successful concept “all under one roof” makes the classic shopping in the city very special experience among the big open spaces, a lot of green area and entertainment places”, said Iglika Yordanova, manager “Commercial area” in Colliers International.

Sofia South Ring Mall EAD, a joint stock company owned by two major investorsFourlis Group & Danaos Group, is a company, active in the investment, lease and management of the commercial center Sofia Ring Mall.

Cleves launches sixth apartment rental project in Sofia

Cleves, the luxury Sofia apartment rental company, today launches a 21-apartment project valued at €4.8m. Cleves Blvd Residence – as it will be known – is the company’s sixth development in Sofia, bringing the total number of apartments in its rental portfolio to 110.

Catherine Barber, Deputy Head of Mission, British Embassy in Bulgaria, will formally open Cleves Blvd Residence at an event this evening. Over 120 people are expected to attend, including Ambassadors and senior business people.

Cleves Blvd Residence is to the east of Zaimov Park in central Sofia and a twelve-minute walk from Alexander Nevski Cathedral and the government ministries and Embassies in the heart of the city.

Cleves has created a range of stylish 1-, 2-, 3- and 4-bedroom interior-designed apartments in the upper floors and fitted them out to very high specifications.  Unusually, more than half the apartments have 3 bedrooms or more.

Cleves EOOD (www.cleves.bg) is in the process of acquiring a €40m portfolio of up-market, new-build residential property in Sofia.  The company focuses on the top-end of the rentals market.  Its clients are senior international executives and diplomats. The company owns and operates all the apartments in its portfolio.

 Peter Diakov, General Manager of Cleves EOOD, said: “It will be a pleasure to have more apartments available because the rest of our rental portfolio is almost full, with occupancy over 93%.

“This new project is popular already. Even before the launch one third of the units have been reserved. Demand to rent at Cleves Blvd Residence exceeds anything we have experienced before.”


Welcome to RilaDev’s Blog!

In 2006, RilaDev a English Bulgarian homebuilder embarked on one of the most ambitious hotel and residential project in Bansko, Bulgaria, Pirinea Hotel Spa and Residence.

This blog offers current news and information on the Bulgarian real estate market and economy, local and touristic events and tracks the exciting progress of this emerging market.

This blog will also offer subscribers periodical updates on the Pirinea project, its construction progress and other related information.

For further information please contact

Russell Collins
rcollins@pirinea.co.uk

+44 207 313 8073

Author: Russell Collins - RilaDev

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