Rock Hearth of Bulgaria to Meet Golfers
2007-09-19 10:00:00
The small Black Sea coast of Kavarna, which has earned the glory of "rock capital", is on the way now to have its own golf field. The town's mayor Tsonko Tsonev, awarded Man of 2006, turned Saturday the first sod of a major investment project, thus opening a new horizon of prosperity for the whole region. The project for a golf and spa complex, to be named Thracian Cliffs, estimated at EUR 120 M, is an investment of Thracian Cliffs Golf & Spa Resorts AD. It plans also the building of a new residential complex to be constructed just next to the town, with a five-star hotel, 316 apartments, and 90 cottages. The recreational and sports complex will spread on a total area of 1,400 decare, CEO of the investor Stefan Staykov said. The golf field will be ready to meet visitors by June 2008 and all construction works would be completed by 2010. The increased interest in Kavarna property resulted in a record income from land deal taxes. Kavarna expected over BGN 2 M for 2006, Bulgarian media have reported. Bulgarian real estate market registered rapid growth over the past few years and was expected to grow even further after the country's EU entry in 2007.

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