Buy & Sell Bulgaria Insight Newsletter

At last we have the news you were all waiting for! In October 2008 we broke ground at Lakeside Views, Eagles Nest and Aphrodite Hills golf course! We started with the road building and infrastructure.

We started by cleaning the mud tracks, we will then position the roads as these are provided by the town plan, build the foundations and make the roads “drivable” in general. We will then build the pavements and the dranage systems, lay the electricity, water, telephone and cable TV lines, then we will position the street lighting. No tarmac will be layed at this stage because during the construction of the villas and golf course it will be destroyed.

So far an investment of € 500 000 has been made for the initial work carried out.

Soon to follow is construction work at the Royal Oakwood golf course and consequent activities at Marina Hills. It goes without saying that you will be kept informed at every stage and with details of how things are developing.

The President of Cyprus, Mr. Dimitris Christofias paid an official visit to Sofia at the invitation of the President of Bulgaria, Mr. Georgi Purvanov. ‘We are bound by an old friendship but also by new favorable opportunities in the future that can benefit our two nations’, the President of Cyprus stated. He revealed his satisfaction with the talks held with his Bulgarian colleague Georgi Purvanov and pictured them as being constructive and useful, outlining new perspectives for the strengthening of the bilateral relations.

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Christopher Violaris, Chairman and Managing Director of Eurolink Investment Group

Passage quotation of speech

For more information regarding the Eagle Has Landed, click here.

Friends, dear clients, business associates, strategic partners of the company, dear … dear all,

The world is going crazy. What we have believed up to now, what we based our hopes on, what for ages we were taught to trust, all this is collapsing. And is collapsing why? Because it was based on false values, it was basically a balloon that took obviously 80 years to blow up, but it has blown up. Last night I was monitoring the news. I didn’t get much sleep to be honest with you, because I wanted to position ourselves today on a firm base. What is coming up in the news is just amazing. But an item has confirmed the validity and the correctness of the policy which we have followed for years. People, the news said, are turning to traditional values. Now, what are these values - Gold, Diamonds, Land and Property! Those who have money to invest they are not giving it to the banks any more; they are not giving it to the Stock Exchange anymore; they don’t trust them anymore; they are turning to the traditional values. As a student of economics I was taught that this is a primitive way of investing. Well, it appears that we are going back in history. We are going back to the primitive times. It appears and it is obvious that these are the values which we can actually rely on. These are values with unchangeable historic length.

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Prof. Dr. Ivan Nikiforov, Team Leader for the new General Town Plan (GTP) of Varna.

Passage quotation of speech, translation Lili Gospodinova

For more information regarding the Eagle Has Landed, click here.

The town plan is developed by the Territorial Town Planning Organization in Varna and the National Centre of Territorial Development in Sofia.

It is amazing that with only one bridge (Asparuhov Bridge) joining the two parts of the town, Varna has developed to the South by itself. As a general part of the new GTP is the development of the South regions of Varna, with the building of two new bridges and another additional one. These are the regions of Konstantinovo, Zvezditsa and Borovets. These three areas will play the role of the new residential areas of Varna. They will be connected to the so-called ‘Old part’ of the town by one of the new bridges, which will go through the village of Kazashko and connect with the motorway to the capital Sofia.

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Frank O’Dowd, Golf Course designer and Golf Course builder

Passage quotation of speech

For more information regarding the Eagle Has Landed, click here.

A couple of months ago I heard about a project here in Varna and I contacted Chris.

As the design is quite now 7500 meters, even if there is someone better than Tiger Woods in ten years or twenty years it is still going to kick. In that sense the golf course has more than enough room to be a world class championship golf course in length, then it comes down to me to put the new axis to put the creativity into it. That only can be done by being on site. You can do so much drawing, but it has to be done on the field. That is the approach that Intergolf Inc. takes, that is the approach that I take. By taking on this project with Chris, it is taken on personally, not by one of my staff, it is taken on by me, I will be here, we will do it. When this project is done, my next project might be in Vietnam or China. I move, I go there. We take on very specific projects.

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27 October 2008, Monday, by Novinite.com

Bulgaria’s Black Sea city of Varna won the competition for “Bulgaria’s Best City to Live in”, which is organized by the National Darik Radio and the 24 Chasa Daily.

The Bulgarian “Black Sea capital” won the first place with 276 points total. The country’s second largest city of Plovdiv was ranked second with 272 points. The medieval capital Veliko Turnovo made it to third position with 268 points.

In addition to the main award, this year’s competition featured also four additional awards. The city of Plovdiv was awarded the “Culture City” prize, the capital Sofia got the “Business City” award, Veliko Turnovo was declared “The Most Beautiful City”, and the town of Teteven received the “Eco-Town” award.

A total of 40 Bulgarian cities and towns were included into the competition. They were ranked according to 44 different criteria including demographic growth, architecture, airport access, Internet access at public spots, sunny days, suicides, air quality, administrative services, etc.

In the first edition of the competition in 2007, Varna was ranked first again, followed by Veliko Turnovo, and Plovdiv.

Bulgaria’s government is going to pay BGN 300 000 to international law consultants who will prepare and carry out the negotiations for an investment agreement with the Austrian company Voestalpine Stahl. The government’s move is regarding Voestalpine’s plan to invest EUR 5 B in the construction of a new steel factory on the Black Sea coast.

Bulgaria is competing with Romania, Turkey, and the Ukraine to attract this investment, which is expected to create 4 500 new jobs in the region, where the new factory will be located.

The BGN 300 000 will come from the budget of the Ministry of Economy. The hiring of foreign consultants is necessitated by the technical complexity of the project and by its significance for the Bulgarian economy.

The international law consultants will focus on the preparation of an investment agreement serving Bulgaria’s best interests as well as on the negotiations conducted with the Austrian company.

Nestle has decided to move most of its production of ice cream destined for Romania from its factory in Bucharest to its factory in Bulgaria’s Varna.

The transformation is part of the company’s plan to optimize its production in Southeast Europe.

Its Nestle Ice Cream factory in Varna was selected because of its good geographic location (fewer than 200 km away from Bucharest), and because the company has invested EUR 6 M in it during the last two years.

As a result, the factory has a modern production base, and is certified according to all EU standards. It has the capacity to supply the markets in Bulgaria and Romania, and to maintain the present exports in third countries.

In 2007 the municipality of Varna built a multifunctional playground in the Sea Gardens in Varna. In the first months of its opening the playground was visited by over 200 000 people. The field costs BGN 130 000.

Varna Municipality will invest 1.3 M euro in modernizing and expanding the football stadium and basketball playground, which is located in the courtyard of the Technical University. By an agreement with the rector of the Technical University the undersized playground will be constructed in real sizes. “With it in our town we will have genuine sports facilities at which championships are to be conducted. There are many private companies that want to hire the base, to train their teams,” commented the mayor of Varna Kiril Yordanov. Five new sports grounds will be finished by the end of the year in the sea capital. They will be located in the quarters of “Vladislavovo” and “Primorski” and the villages of Konstantinovo, Topoli and Kamenar.

Meanwhile the construction company Engstroy Engineering Ltd. won the announced by the a Municipality of Varna competition for carrying out further construction and installation works, necessary for the complete construction of the sports-amusement complex “Mladost”. The contract is for 2.049 M euro. Last year the company built the facility for U.S. $ 7.5 M. The Sports complex has a combined playground for a minifootball and handball, volleyball games, basketball and a stand. It is going to have a children’s sector, where children from 3 to 5 years old will have cradles, a castle, etc.

A skatepark has also been completed in “Mladost” and a roller track has started working. The municipality has reserved 940 thousand euro for the construction of a squash center with two cells.

A BGN 10 fee would be collected to certify an invitation from an individual for the issuing of a short-term Bulgarian visa for a foreigner’s stay in Bulgaria while a BGN 20 fee would be due when the invitation is for a foreigner, who is conducting business activities on Bulgarian territory.

The new fees were determined by the Ministries’ Council during their regular weekly meeting.

The fees are introduced in accordance with the new Decree for the Conditions and the Regulations for Issuing Visas and Determining the Visa Regime. The Decree became effective mid-July and reflects general consular instructions and the practice established in countries members of the European Union.

There are many birthday boys and girls in November. Our clients and good friends Steve Flynn, Mark Bradley, Anne Sparks, Alun Copeman, Neil Childs, Ross Minter, Susan Guiver and Sebastian Kinsman have their special day this month. We would like to wish them all Many Happy Returns and the best of luck!

It is our company policy to celebrate all Great Events!!!