A new neighbourhood is planned for the South West part of the Sea Capital of Bulgaria, Varna
October 17th, 200813th Oct, 2008, by Doroteia Stoyanova, “Construction - Properties” daily


A new luxurious residential complex is to be developed to the South West of Varna. The investment projects are of the company Eurolink Investment Group, owner of 13 000 decares of land in the area of the village of Konstantinovo. According to Mr. Violaris, Chairman of the company, the new neighborhood will consist of 3-floor family houses. “This is a long-term project, which will be finalized within the next 10 years”, commented Mr. Violaris. He advised that during the construction of the complex, the nature in the region will be preserved to the maximum, which will turn the area into an attractive residential spot. The prognosis, provided in the General Town Plan of Varna, show that during the next 10 years another 40 000 to 60 000 people will populate the area.
According to Mr. Violaris, the World’s financial crisis will not affect the Real Estate Market in Bulgaria. “Citizens from Denmark, Malta, Great Britain and even South Africa are interested in living and working here. However, up to now their interest was toward holiday homes, while in future more demand will be directed towards residential buildings, especially family houses”, said Mr. Violaris
Construction work on the luxurious residential neighborhood will start right after the approval of the General Town Plan of Varna. This is expected to happen not later than March, 2009. At present, negotiations for the construction of a marina are carried out with a specialized company, revealed Mr. Violaris. The first stage of the realization of the project is expected to finalize within the next 3-4 years.
According to the preliminary assignment of the General Town Plan of Varna, the area to the South and South West of Varna is expected to turn into a satellite village. The residential zone will include all housing areas of Zvezditsa nad Konstantinovo, as well as the new agricultural terrains. There is also another idea of having a secondary centre with administrative buildings, techno-park, church, university, sports playground, etc.























