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Vacation Complex for EUR 25 M to Be Built in Bulgaria's Banya
Updated: 2008-02-19

Vacation Complex for EUR 25 M to Be Built in Bulgaria's Banya

Business
A new vacation complex will be constructed in the village of Banya close to the Bulgarian mountain resort of Bansko in the Pirin Mountain in southwest Bulgaria.

The planned Pirinea Complex will be located on a plot of 16 decares and will have an all-out built-up area of 44 000 square meters. The investment, which is worth EUR 25 M, is a joint project between the British construction company RilaDev headed by Terry Roydon and David Holiday, and the Bulgarian firm Tempo.

The four-star hotel will have 110 rooms, and 310 parking spaces located underground. A spa complex of 1500 square meters will be attached to the hotel together with three restaurants, a lobby bar, a healthy bar, barbecue, bowling, a night club.

The project also contains conference halls, a business center, a bridge hall, snooker room, ski, golf, and tennis courts.

The residential part of the complex will be comprised of five buildings with a total of 147 apartments. The owners are going to be able to lease the apartments with expected annual returns of 7-8%.

The construction will be executed by Tempo Stroi Engineering by the summer of 2009, and the complex will be managed by Tempo Holiday and Tempo Property.

The British company RilaDev has been in the field of residential construction for more than 20 years in the UK and abroad. Some of its complexes are Balaia GolfVillage and Rocha Brava in Portugal as well as Dom Developments in Warsaw, Poland.

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