Two five-storey condominiums, surrounded by expansive green belts and recreational zones, will comprise the new Fanagoria complex close to the Zlatni Pyasutsi (Golden Sands) resort of Varna. The complex has been approved and is due to begin construction at the end of March 2009. It is scheduled for completion by the end of 2011.

Investment has come from Golden Sands Development OOD, the project was designed by Pro-arch AD with chief architect Georgi Assenov. The approval was granted by the municipality of Varna, Stroitelstvo Gradut reports.

Fanagoria is perched very close to the Zlatni Pyasutsi resort, so making access to and from the resort very simple. This is an additional factor that the development company believes will contribute further to its value as well as demand for the property.

The complex is located on a steep hill, allowing for both buildings to be built in succession and enjoy a sea view. The condominiums, designated Body A and Body B, will have their own private beach and an outdoor swimming pool equipped with recreational facilities and multi-barbecues.

The compex's main entrance is due south-west. This provides access to the two underground parking lots under each of the buildings. Body A consists of 43 parking spaces. Body B has 47. Both parking lots have mobile ramps equipped by the German firm Klaus Multiparking.

In total, there are 71 apartments and 68 studios. Within the green belts enveloping the two buildings there will be a canteen, spa, indoors and outdoors bar. Fanagoria has a total area of 11 763 sq m of which the built-in area comprises 1666 sq m.