SPAIN’S CATALONIA REAL ESTATE TO DEVELOP A HOLIDAY COMPLEX IN THE RHODOPES

03.11.2007

Spain's Catalonia Real Estate company will invest in the development of a new resort in the Rhodopes, Iliana Martinez, the company curator announced. The initial plans involved construction of a residential complex in Sofia, but the company was discouraged by the high prices of the plots. It then chose Pamporovo for the good cooperation it enjoyed with Smolyan Municipality.
The company initiated its project three years ago with the purchase of a 10-decare plot at 35 euro a sq m. It went on to buy another 15 decares. Currently, land is traded at 60 to 100 euro a sq m. The future complex, Vistas of Pamporovo, will be located near the Rhodopi village Levochevo, which is only 6 km from Smolyan and 4 km from Pamporovo.
Currently, construction is just beginning. The complex, due for completion in 2008, will feature six apartment buildings, each one with approximately 30 housing units. Each unit will have an area of 38 to 130 sq m. Prices will range from 900 to 1,200 euro/sq m. About 60 apartments have already been sold to Spanish citizens who were charmed by the landscape and intended to spend a great deal of their holidays in the country. Another portion of the purchases is for investment purposes. The project was offered on the Russian and Czech market as well.
The leisure amenities of the property will include a swimming pool, gym, sauna and steam bath, kindergarten, and a shooting gallery. In addition to skiing, the area also offers opportunities for mountain biking and horseback riding.
Catalonia Real Estate is a part of Inverta Group, a construction-investment Spanish company dealing in residential compounds on three continents. The developer company operates in Brazil, Morocco, the Czech Republic, the U.S. state of Florida, Bulgaria, and Romania.

Source : www.propertywisebulgaria.com