Fri, Feb 10 2012
Construction company Eurobuilding Engineering will open an exhibition building centre in Bourgas on March 14. The new showroom will house representative offices of the Eurobuilding Engineering Group's subsidiaries: Anabela Build, Anabela Pools, Europlast Engineering, Europroject Engineering and Bulgarian Sun Properties, which all deal in construction, architecture design and project management sector.
The two-storey luxury edifice with a thoroughly renovated interior and a modern façade with luxury etalbond framing, is located in the city centre, right at the beginning of Bogoridi Blvd, and features an exhibit space of 250 sq m.
The owner of the building is an Armenian non-government organisation in Bourgas city. The investors in the project are Eurobuilding Engineering and Lux Imoti real estate agency, which have so far poured 300 000 leva. Eurobuilding Engineering has a five-year leasing contract with the option to extend it further.
The first level of the edifice will shelter the subsidiaries of Eurobuilding Engineering and the second storey will accommodate the regional representative office of Lux Imoti, specialised in luxury residential and holiday developments, in office, retail areas and in plots both in Bulgaria and in other countries. The latter has more than 20 offices countrywide and is presided by Nikola Stoyanov and Mihail Chobanov.
The concept of the new building centre is to gather in one place all operations, related to construction and refurbishment of a modern dwelling or office. It will offer a wide gamut of services, such as design, construction oversight, building materials, remodeling and refurbishment. The show room will target primarily retail clients from Bourgas and the region.
Average market prices of homes in Sofia fell by one per cent in the fourth quarter of 2011 compared to the same period of 2010, according to the Raiffeisen Real Estate Index, as quoted by Klasa daily.
Proportionately, the number of transactions in leva increased as people reacted to speculation that the euro would disappear.
Nearly all banks are ready to finance between 80 per cent and 90 per cent of the price of a home, provided it is a good building in a large city, Bulgarian daily says.
Property prices in Bulgaria were five to 10 per cent lower in 2011 than in 2010, while initial estimates for this year are that they will remain largely unchanged, with transactions remaining at ‘crisis levels’.
Bulgaria’s capital city Sofia ranks 17th, report says, quoting Global Property Guide.