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4 investors propose Bania area golf, spa developments
Updated: 2007-07-05

4 investors propose Bania area golf, spa developments
Four companies are seeking the approval of the local government in the Bulgarian town of Bania, in the mountainous Karlovo region, to develop spa and golf tourism in the area.

The Karlovo municipal council, which has jurisdiction in Bania, will review the submissions on July 10.

One of the entries comes from local businessman Hristo Danov. It is submitted on behalf of the Bania soccer club presided over by Danov.

The other 3 proposals have been collecting dust in the municipal archives for quite a while. Some were handed in no less than a year ago.

The most expensive development is the 60 mln euro Bania Golf and Spa Resort proposed by the company of the same name.

The investor has invited the municipality to co-create a joint venture and contribute a 157 ha land plot valued at 12 mln levs. Bania Golf and Spa Resort will provide a capital of 25 mln levs for the JV.

The company wants to build a golf course, a five-star spa center and entertainment venues.

Luxembourg-registered Rose Valley Investment also favors a spa tourism joint venture format involving the municipality.

The fourth proposal comes from a Dolna Bania entrepreneur Georgi Genov.

The projects will be tabled for a public discussion on July 5. If they get the popular vote, they will probably get ours as well, said municipal council chairman Stoyo Karagenski.(Dnevnik)

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