Golf Club Ibar, an investor in the Golf Club Ibar complex in the Bulgarian town of Dolna Banya, has received a first class investment certificate for its second golf complex in the country.

The Ibar 2 project would be worth 106.5 million leva and constitute part of a wider plan for the economic development of Dolna Banya municipality, investor.bg reported.

The project envisions an 18-hole golf course named Bears Best par 3. The course alone is worth 17.5 million leva. This was the first project of its kind in the world, the investors said.

The course is a new concept from Nicklaus Design.

About 300 single-household houses covering a total built-up area of 45 000 sq m estimated at 45 million leva will be built in the complex.

A golf club, trade and service facilities, sports and a hotel complex with a spa centre will be also included in the golf complex.

Investors in the complex include business people Kiril Nedev and Ilia Lazarov. Golf Club Ibar is a joint company set up by Dolna Banya municipality and Lazarov Nedev construction company.