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Resort operator Albena to sell two seaside projects

Date: 12.11.2008

Bulgarian resort operator Albena AD has put up for sale its upscale holiday complex in Byalata Lagouna (White Lagoon) area, on Bulgaria’s northern Black Sea coast.

The project is up for grabs for 42.5 million euro, and comprises two units of 177 flats, a spa centre with an indoor and an outdoor swimming pool, a beach, a tennis court, a restaurant, a sweet shop, a supermarket and a parking lot.

Albena unveiled in June plans to build on the 2.2ha land plot after failing to sell it. The complex should be finished by the end of 2010 at a cost of 17 million euro.

The resort operator has also put up for sale its Balchik Gardens project due to sprout in the coastal town of the same name. The investor is asking for eight million euro, VAT excluded, for ten buildings of up to five floors with a total floor space of 22 600 sq m and retail outlets. The company is putting the finishing touches of two of the buildings.

No buyers have shown up yet for the whole Byalata Lagouna project but six or seven of the flats have already been sold.

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