The first sod was turned at an official ceremony, the name of the new complex will be Costa Bulgara.
The complex will comprise 199 apartment in 11 buildings, two swimming pools, a mini aqua park, a restaurant a lobby bar, a children playground and a recreation SPA.
The three-storey residential buildings will have one-bedroom and two-bedroom apartments, and studios. Some apartments have already been sold, the investors said.
The complex parking will take up to 50 cars. The plans also include conference halls and a shopping center.
The hotel complex will be built on an area of 11,500 square meters, and its total-built-up area will be 13,000 square meters.