Property News

Construction project worth 7 million leva is set to finance the building of 200 new apartments in a new quarter of Veliko Tarnovo. The properties are to be built at the site of the former demolished Pharmacy Management quarters in Veliko Tarnovo, reports the local newspaper “Borba”. The information is provided by the “Construction and Spatial Planning” department in Veliko Tarnovo.

 
According to it, the papers for the new construction projects are already approved and signed. This is the first major site to be approved after the construction boom and the severe crisis that hit the industry.

 
In addition to the 200 apartments, the project includes the construction of a number of retail outlets, including a superstore, underground carpark and recreation areas. Office buildings are also going to be built and they would be accessed from Marmarliyska Street.

Character homes in Bulgaria

South African investors to build architectural reserve, consisting or traditional Bulgarian houses from the Revival Period, near Zlataritsa. Visitors would be able to see a variety of traditional homes characteristic of different Bulgarian regions – Arbanasi, Strandzha, Pirin, etc.

This interesting Bulgaria real estate is located by the river and is planned to have four or five houses in which tourists will have the opportunity to see and learn more about authentic Bulgarian traditions from different ethnographic regions of the country.

The complex will be on land of about 100 hectares. Investors have been buying plots and dealing with land consolidation for the past three years. The complex will also have a dairy and farm.

The most expensive construction market is Hong Kong. The top 10 includes five European countries, reports Investor.bg.

Bulgaria is among the ten cheapest states for construction in the world, according to consultancy firm EC Harris. Bulgaria ranks 6th in cheapest construction destination and 42nd for construction costs.

The cheapest destination for building is India, followed by Indonesia, Vietnam, Morocco and Malaysia. A position behind Bulgaria is Bosnia and Herzegovina, and Romania is the tenth cheapest destination for construction in the world.

Hong Kong, on the other hand, has the most expensive construction market in the world. Among the top 10 most expensive construction destinations are also five European countries – Switzerland ranks second, Denmark third, Sweden fourth, France 8th and Belgium 10th.

Macau is rated by the company on the 5th place, Australia – 6th, Japan – 7th and Singapore – 9th.

Although the economies of developing countries are slowing,and the recovery in developed countries is lagging behind, experts predict growth in the construction industry worldwide. They also say that by 2025 the volume of construction output will grow by 70% to 15 trillion dollars.

Growth is also expected to be concentrated in the developing economies, which by 2025 will contribute with 63% to the global construction output. For comparison – in 2012 their share was 52%.

image

The Mayors of Veliko Tarnovo and Alexandria, Daniel and Victor Panov Dragusin, have signed an agreement for joint application for cross-border project between Romania and Bulgaria. It is called “Building eco urban zones in the Lower Danube Euro-region – models for sustainable urban development” and would cover the time period 2014-2020.

image

From early September the chief architects of the two towns will be consulting about the preparation of projects to create riverside recreation areas, said Daniel Panov.

image

The Veliko Tarnovo project is based on an early development plan, designed by the local architect Matey Savov. Projects should be ready by 2014 and and be implemented in 2015.

image

The Veliko Tarnovo project so far is planned to be 2.5 km long, running along the Yantra. It would from the tunnels next to the Tsarevets Castle. The project envisions cycling trails and walkways, decorated with greenery. The  Yantra coast will be reinforced with gabions and supporting walls. Two panoramic elevators will lead from the town to the street, shared Daniel Panov.

image