Ekologichen Zavod, the environmental factory in Shishmantsi village, in Plovdiv municipality, is now said to be 80 per cent complete. Construction is expected to be finalised in full by May 30, and all testing procedures have to be fulfilled within 30 days, in order to be given the goahead for regular exploitation.
The agents that do the nitty-gritty work are those based in Bulgaria. They source and process the deals. Most estate agents in Bulgaria will be Bulgarian-registered companies owned and managed by either local or foreign nationals.
There are some British-owned and -managed companies in the UK offering properties in Bulgaria, but these are normally working in partnership with a Bulgarian agent who does the day-to-day work. Some of the British agents might have direct links with developers and not use local agents.
Sofia Airport Centre, coowned by Tishman International Companies and GE Real Estate for Central and Eastern Europe, apparently remains on track in spite of Bulgarias deteriorating market conditions.
The first sod of the 65 million euro project for the new retail and recreation centre, Markovo Tepe Plovdiv, was turned last week. The project is scheduled for completion by the end of April 2010.
The managing board of Engel East Europe has decided to concentrate on projects in the Czech Republic, Hungary, Poland and Serbia in light of current economic developments, and limit operations in in Bulgaria and Romania only to existing projects, the company said in a filing to the London Stock Exchange, where it is listed.