Bulgaria's Varna to Compete for European Black Sea Capital
As by novinite.com: "Varna is one of the top two finalists for European Black Sea Capital of the European Union (EU), according to the Bulgarian daily newspaper "Standard." The EU is going to select the European Black Sea capital between two cities: Varna in Bulgaria and Konstantsa in Romania. The newspaper cites John Murray, Director of growthclusters.com - an organization working at national, regional, local and international levels in the area of cluster development saying that "Brussels' goal was not the moving of Eastern Europe to Paris or London but rather aligning the living standards." According to the UK expert, despite Konstantsa's advantage of its recently reconstructed port, Varna's chances to become the EU Black Sea Capital would greatly improve with the construction of a larger and modern logistic center in the Bulgarian main coastal city and port".
05.08.2008
Restoration of the Roman thermals in Varna
The most important historical monument in Varna is to be restored. Similar, of those kind are just four other monuments in Europe and through the world. The idea is to strengthen and partially restore some of the ruins and the whole center then is to be covered with glass. Within this, there also will be several rooms for expositions where pictures of how the Roman thermals used to look in the past could be seen
05.08.2008
A project of the biggest mall on the Balkan Peninsula in Varna
As quoted by ‘Narodno Delo’ newspaper, a new project that will represent the biggest Mall on the Balkan Peninsula is on its way. The project belongs to a company that encompasses 110 malls in 40 other countries. The investment will amount to 750 mln euros and is undertaken by a German multi – millionaire.
05.08.2008
Two new holiday settlements with yacht bases in Varna
New regulatory plan of Varna envisages two new holiday settlements south of the Sea Capital – Pasha Dere and Chernomoretc. On the two territories, there are envisaged yacht bases. The new recreational zone is to be in Zvezditza. Setting up of a three new bus stations. The two will be on the entrances of the city: village of Kitchevo and Asparuhovo residential district and the biggest one is to be build in the region of the air port. This area is determined to be the biggest road junction in the city. The passengers coming from and to the air port will depend now on the railway transport as well. The railway will go through the whole coast line and will reach to Kranevo and Albena.
11.06.2008
Enormous settlement near Varna
The Israel Company “Elektra Bulgaria” ltd is building the biggest closed settlement in Bulgaria, 15km north – west of Varna in the village of Kalimantzi.
The settlement will be situated on 500 000 sq mtrs land with 400 000 sq mtrs build area.
The project also includes trade centre, kindergartens, school, church, restaurant, attraction and leisure centre ect.
The land was bought in the period 2006 – 2008.The status of the land is already changed and the project is in process of approval.
The first dig is planned for the spring 2009.
The company presented its first project a week ago – BotanicalVIPGarden. This will be built in the resort St. Constantine and Helena and encompasses 7 buildings. The first three of them are going to be ready till the end of this year. Theownerswillhave 129 over ground and 117 under ground park places. The first buyers are Russian citizens who paid 1500 euros per sq mtr.
In the western industrial zone of Varna, the company is building business centre “VarnaInternationalBusinessPark”. The build area of this will be of 18 000 sq mtrs.
A 30 meters high statue of a women is going to welcome visitors of Varna, says “24 hours local”. The brass sculpture will be built in the end of 70 meters long bridge above the sea. It is still under question where the bridge is going to be – Central Varna beach or “Fish” beach.
11.06.2008
Beaches in Varna city cover the criteria required by the European Union
The last tests made in may show that beaches in Varna comply with all eu requirements. Currently all 23 swimming zones are good, say further the statement. The report of the EU commission says also that such tests are going to be taken each week – quoted be newspaper “Moprski Trud”.
11.06.2008
Varna invests 3,5 mln leva in coastal infrastructure
In preparation for summer 2008, Varna municipality spent 3,5 mln leva for improving the sea front as quoted by local newspaper “Cherno More”.
This also includes new parking places the number of which is around 590 for the whole coastal line in Varna. This summer, the access to the alley is going to be restricted by 3 barriers. 2 of them will allow only vehicles which supply the restaurants, bars ect. and only one of them will allow other vehicles until they full the capacity.
04.06.2008
Still great to invest in Bulgaria
It may have been an international property hotspot for some time but opportunities still exist for savvy investors in the Bulgarian market. According to industry experts a number of high-end projects are being planned in the country, which is expected to attract a new wave of investment.
04.06.2008
First Golf Course on Black Sea Coast Opens in Bulgaria's Balchik
The first golf course on the Black Sea was opened Saturday in the Bulgarian sea resort of Balchik north of the city of Varna. The BlackSeaRama complex is worth EUR 103 M, and is located on an area of 1000 decares. It is the second professional golf course in Bulgaria, and currently has nine holes, with nine more expected to be added.
The complex also includes several dozens of luxury villas and houses, a mineral water pool, a gym, and a five-star hotel.
A wine-producing plant is under construction. It will use the production of the vineyard located on a plot of 10 decares, and will produce mostly white wines, with the first 20 000 bottles expected to appear in three years.
BlackSeaRama is a closed golf club where the membership costs EUR 25 000. The investor in BlackSeaRama Ltd, whose board of directors includes the President of the Bulgarian Golf Association Krasimir Gergov and the two famous Bulgarian sociologists Kancho Stoychev and Andrey Raychev.
The Bulgarian football star Hristo Stoichkov participated at the opening ceremony of BlackSeaRama.
02.04.2008
3% tax on property purchase in Varna
As from 2008, the municipalities in Bulgaria have the rights to define individual rates on local taxes and fees. In Varna District, the tax policy announced rates as follows:
1. Tax on transfer of real estate property – 50% increase. As from 2008 the tax on property transfer shall amount to 3% (as oppose to 2% previously charged).
2. Tax on vehicles – 50% increase.
3. Tax on property – 50% increase.
The tendency shows that in the areas with high activity and grow the increase of taxes is the highest. This is because of the growing expenditures generated by the municipalities for all administrative activities. In the small villages and cities, where the revenues are lower local taxes and fees still cover the lowest rates imposed by the law.
02.04.2008
Re-registration of current companies
As of 2008 a new Trade Law came into force. Under these regulations, all companies are now to be registered through a Trade Register (up to now registration of the companies has been possible only through the court). All related information and conditions of the companies are now to be public and accessible to everybody. This also requires that all current companies, registered through the court have to do re-registration. With this, they will be enlisted in the Trade Register (as oppose to the Court Register).
The term of doing so is 3 years.
If the companies fail to do so within the term they will be closed with administrative measures.
The above procedure takes about a month.
12.03.2008
Varna Plan
The long awaited Varna Plan is coming up for its final Goverment tick of approval. The plan itself will have far reaching affects on developments within the greater Varna district area. Over the coming months we expect to see a further investment and growth in City developments now that people will know what to expect on their doorstep.
26.02.2008
Multi Agency
Multi Agency For all our clients that are selling property, we are now actively promoting your properties over suitable third party Multi Agency resellers. This allows for the properties to have a wider sales frame of reference. We have placed a link below to show one of he main sites being used. We will continue to add to as many third party agencies as we can over the next few weeks ready for the new season.
26.02.2008
Varna Local Development Plan
The new and long awaited Varna Local Development Plan is now available for discussion, we can send a copy (jpg image) of this to anyone who is wishing to view it. It is a fairly large file, so please make sure your provider will allow this kind asn size of transfer. We understand the Plan is being submitted for final Government Approval first quarter 2008, we will keep you posted as to its outcome and possible implications.
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