The Greek construction and energy holding company GEK said that its unit Icon Eood has purchased property worth 19.6 million euro in Bulgaria’s Borovets resort after submitting the best offer in a tender held by the Municipality of Samokov.
 
The property was approximately 16 360 sq m, according to CNNmoney.com.
 
Borovets is about 70km away from the Bulgarian capital of Sofia. The area is a famous mountain resort, with the eventual goal of becoming the largest Balkan ski centre.

GEK did not disclose plans for development, but brokers expect that projects will be related to tourism.