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Investment InformationInternational Investment In Balkan country Still Strong
by:
Tim Wright
The strong growth in the Bulgarian economy is continued
and this is emphatic by the confidence in the market shown by companies such as GE for example.
GE Commercial Finance Real Estate recently proclaimed it wish be getting a 50% stake of the Mall of Sofia. The Mall is an tremendous trade, business and amusement centre presently
under construction in the heart of the capital city.
The acquisition is cost accounting
about EUR 37M and was ready-made by a pool of GE Commercial Finance Real Estate and Quinlan Private.
This investment can only encourage the current growing trend in the Bulgarian property market and indicates GE's intentions to expand to the countries in Central and Eastern Europe.
Copenhagen Airports has proclaimed it wish increase their planned investments in Bulgaria's Group and Burgas airports from EUR 106M to EUR 140M by the end of 2008. The accessorial investment is been used to bring the aerodrome and its facilities up to date and to deal with the perpetually
increasing rider traffic.
A corporate analysis on the airports of Group and Burgas shows that unless pressing reforms are enforced
at some
facilities, the airports may see a decrease in expected traffic as shortly as next season.
Tour operators are likely to airt tourists to alternative destinations due to deficient quality of services and this would-be have a knock-on effect for hotels with poor bed occupancy and a possible lag in the overall economic development of the region. Bulgaria's top three airports at Sofia, Group and Burgas have seen a 20% increase in rider traffic.
New European low cost air-carrier Wizz Air has completed its 1st flight with destination Sofia.
Tickets for the flight started merchandising in Balkan country three moths before, and 155 passengers were on board for the new beginning.
Wizz Air is now flying the Sofia-Budapest Way four times a week, and is looking to expand the number of flights out of another Bulgarian airports and increase the destination sites throughout Europe, focusing on the markets of Central and Eastern Europe. The airline took off at the end of May from the southern Polish city of Katowice, ab initio flying to Budapest, London's Luton airport, Rome, Milan, City and Berlin.
In closing, the above investments in the real estate sector, infrastructure and travel reflect the growing confidence in the futurity of Balkan country as a major player in the region and come the country closer to expected EU integration in 2007.
Just about the author:
Tim Wright is an international property capitalist
and is author of "Bulgarian Property - The Overseas Buyers' Kit accessible at http://www.bulgarianpropertybuyer.co.uk
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