Builders' Interest has Shifted to the Southern Coastline

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Builders' Interest has Shifted to the Southern Coastline

After Sunny Beach's beach-front was tightly built-up and plots near Bourgas-Sofia thoroughfare were burrowed for construction, building works in Sluntchev Bryag seem to have abated, Standart daily reports.

Unlike in previous years, when the dawn of spring marked the start of works and the whole resort was turned into a construction site, heavy building equipment is now less prominent.

Every attractive stretch of land along the coastline has been absorbed. Currently, there are 17 new buildings, which are under construction in the western part of the resort near the Bourgas-Varna road, nine of them being hotel developments. The other eight are housing compounds. Seven hotels and eight residential buildings will open their doors this summer, the Union of Private Property Owners says.

Most of them, however, are old projects, initiated several years ago, which are awaiting completion. They are likely to be the last ones because there are no available plots left. Every vacant space from Nessebur to St Vlas has been consumed. There are five new holiday villages and 11 hotels, which are currently developed in this region.

Around 200 hotels in Sluntchev Bryag are expected to work this summer, Standart reports.

The only option left on this section of the coast is to demolish existing developments and erect new ones on their site. The lack of vacant plots along the coastline has apparently driven investors further south - to villages like Tsarevo and Sinemorets.

Tsarevo will soon boast 15 new hotels, Mayor Petko Arnaudov said. One of the largest complexes on the south coastline - the 70-million five-star Costa Del Coco, will be erected to the north of the village.

Another batch of 15 buildings is underway in Sinemorets. More than 40 new hotels are also being built in Lozenets resort, which has seen a considerable interest over the last few years and is unlikely to avoid the perils of over-construction. Despite its shorter season, the northern Black Sea coast has also been attractive to investors for the past two years - primarily for the development of resort villages and residential compounds. Investments in golf courses and villas is very popular in the region because such developments can extend the length of the holiday season and attract affluent golfers and their families all year round.

In Balchik municipality alone, residential units will soon reach 100,000 in number, forecasts Mayor Nikolai Angelov. Kavarna is also an interesting case. Two new four-star hotels with a total capacity of 400 beds will open doors by the end of June, Tsonko Tsonev, the mayor of the village said.

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