Bulgarian Property & Real Estate News

Borosport AD, the operating company for Borovets ski resort has announced that it will invest 70 million BGN over the next 3 years in developing new ski pistes, ski lifts and installing new snow cannons. The investment is large enough to allow the company to received a First Class Investor certificate. The certificate will help to speed up the issuing of permit and funding to progress the work at the ski resort. The total length of the Borovets ski pistes will be increased to 120 km over the 3 years. Borosport will utilize the higher skiing locations at an altitude between 1,600m and 2,500m where there is no snow shortage. Some of the older lifts will also be replaced with newer models which are more comfortable for skiers. The new ski lifts will be located in the Markudjik ski zone. As part of the investment Boropsort hope to increase the popularity of the resort as a year round location. Borovets property is the location for a selection of property investment projects over the next few years. The largest project of all is the Super Borovets project that will add a number of new ski apartments and ski chalets to the resorts accommodation and also increase the length of the pistes. The list of investors in the Borovets area include investment fund Equest Balkan, local businessman Hristo Kovachki and Bulgarian company Chimimport.