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Bulgaria confirms its position as the most attractive destination for investment in tourism infrastructure in the Balkans, with growing Russian and Chinese investor involvement confirming the positive trend. Among the projects due to start construction within the year, one described as the Bulgarian Las Vegas is particularly noteworthy. The complex will be built near Sofia on land previously used as a golf course in a village on the outskirts of the Bulgarian capital. The ambitious tourism project will be developed by Hong Kong investors intending to begin work in spring. Construction of Bulgaria's “Las Vegas” should start no later than May, with investment estimated at over BGN 1.6 billion (€800 million), according to Novinite. Thanks to low costs, such sums enable major developments in Bulgaria. The complex will be approximately 20 kilometres from the capital and offer tourists luxury hotels, casinos, a water park, a shopping centre, a sports centre and other attractions. The second project is Destination Rila, a major ski development in the Rila mountains of southwestern Bulgaria covering 5,500 hectares. This Franco-Bulgarian joint venture is valued at €600 million. A Russian investment fund also plans to build a rehabilitation centre in Separeva Banya, a town in southwestern Bulgaria at the foot of Rila, capable of treating up to 2,000 patients daily. Project costs are estimated at BGN 75 million (€38 million). These tourism projects are highly promising: Bulgaria already offers a wide range of tourism opportunities, from the sea to the mountains, including archaeological sites and thermal spas, and is an attractive destination for nature and hunting enthusiasts.
Editorial team
De Amicis & Petrova Law Firm