Second Big Complex Planned near Borovets

24 hours daily, 19 April 2007, *with excerpts

Samokov municipality has suspended the construction permits, until further expansion of the infrastructure in the region.

Analogue of the big project “Super Borovets” is under development by the businessman Hristo Kovachky. It will be situated in Mala Tsurkva, Govedartsy and Maljovitsa. General construction plan of the area is now being prepared, and is about to be completed by the end of May.
Joint company “Nadar 2006” was created last year for the purpose of the new project. 50% of the shares are owned by Samokov municipal and the remaining shares belong to “El-El Impex”, whose sole owner is Hristo Kovachky.
The plan is to create 5 tourism centres, which will be able to service 8-10 thousand tourists, explained from “Nadar 2006”.
The so-called resort-and-tourist location will comprise three zones, where 50-70 km of ski slopes will be constructed.
After the plan is accepted, the total amount of the investment will also become clear. The investment will be times bigger than that for the project in “Boriko” location. 23 million BGN were planned for “Boriko” project.
The municipality owns 25% of the company which will develop the “Boriko” location. The municipality will preserve this share irrespective of the amount of the investment. The construction of a winter stadium, and a two-seats lift with capacity to transport 1000 visitors per hour. There will be 3 ski slopes for beginners as well as an artificial snow installation. The project will also bring about the improvement of the entire infrastructure.
Two ski slopes, named Sitnyakovo 5 and Sitnyakovo 6 will be constructed in the Martinovi baraki site. The slopes are due to become ready by the end of the year.
“In Boriko we will construct a modern complex for Bulgarian tourists. Our idea for the beginners’ slopes is to be used for free by the children from Samokov. We chose to invest in Borovets, as compared to the other resorts Borovets is the least developed and, at the same time, is a short distance from Sofia” explained the investors.
The projects of Mr. Kovachki are proof that yet again the region of Borovets is becoming even more and more appealing to investors. According to the brokers, it will become a centre for a new mega-resort, along with Dolna Banya, Beli Iskar, Madjare, Govedartsi, Malyovitsa, just like Bansko, Razlog, Banya village and Dobrinishte.

“Borovets will not be a mere analogue of Bansko, but will develop in a ski-resort with its own unique features” states the Mayor of Samokov – Angel Nikolov. The fact is that the project for the construction of the “Samokov-Borovets-Beli Iskur” tourist destination, also known as the “Super-Borovets” does not show the same high constriction density as the one seen in recent years in the region of Bansko, Razlog and Dobrinishte.
The transformation of Borovets in a top-resort will be gradual. First we will construct the lifts, the ski-tracks and the remainder of the necessary equipment and, then we will proceed with the housing - explains Angel Nikolov.
So far this has been the main course of action. As from the beginning of October, the Samokov municipality had only issued a total of 18 construction permits. The Mayor was firm that the heavy machines will suspend their work in order not to bother the tourists from the start of the new ski-season.
Despite the high temperatures and the low snowing levels registered this winter the construction works at Borovets became literally frozen. Three of the hotels built last year and some of the villa complexes managed to open for this season. The rest will be finished until the end of the summer or in the autumn.
The gradual build-up will affect positively not only the nature, but will also be beneficial for the investors. In Borovets the demand still exceeds the supply, which allows higher prices to be maintained. Almost all of the attractive apartments in the newly-built complexes in and around the resorts have already been sold prior to the completion of the sites.
Powered by the “Super Borovets” the Samokov Municipality started preparing for the future expansion of the resort. Borovets had a new sewerage system built and two water-conduits since the end of November, last year, which cost million BGN. In the end of October 2006 the Municipal Council in Samokov approved the general organization plan of the resort, as well as its ecological valuation.
“In 15 days we will summon all company members for a work meeting and we will begin the practical realization of the project. We will select a company, which will start building the lift between Samokov and Borovets, and we will later start marking the ski-tracks trajectories” said Angel Nikolov.
The construction of a cable lift to connect Samokov with the Markudjicite site will start in the spring. It will be followed br the marking of 90 kilometers of new ski slopes.
“We are progressing a bit slowly, because we want to be fully prepared for the moment when the construction of accommmodation will begin. Otherwise the project may get out of control and instead of a beautiful resort where people will enjoy themselves and recreate; the effect may well be a heavily built-up location. I have no intention to let this happen” said the mayor of Samokov.

So which projects are being developed in the region?
- The four-star hotel “Flora Residence” built by “Glavbolgarstroy” in Borovets is already completed. The few remaining unsold apartments there are being sold at 1 600 Euro per sq.m. and are completely furnished.
- The construction of a complex with over 200 apartments and a hotel 800 meters from the center of Borovets started last year. The investor is “Benchmark Fund Properties”. The fund “Bulgarian Land Development”, which is already active on the London Stock Exchange, has a project for villas and hotel apartments at the exit of Samokov, on the road leading to Borovets.
- The most attractive site in Dolna Banya is the golf course “Ibar”, together with new complexes in close proximity to the resort.
- The construction of a brand new hotel, part of a large holiday complex in Govedatrsi village will start in July. The investor will be “Louis Charles Property Fund”, currently listed on the London Stock Exchange, and the construction will be performed by “English Bulgarian Real Estate Govedartsi”.
The next step is the construction of 8 buildings comprising a total of 100 apartments. The designers have planned to create them entirely from wooden constructions, which have proved to be energy-saving, fire-, and earthquake resistant as well as ecology friendly.