The Government will have a sole proprietorship of the new company “Golf Development”

HoReMag magazine

The government decided to set a sole proprietorship “Golf Development” with 100 per cent governmental capital, this was announced by the governmental information service. It will work on the projection, building, and exploitation of golf complexes, including golf courses, service buildings and equipment and etc.

The main goals of the initiative are to transform Bulgaria into a competitive golf destination and to encourage the construction of golf courses. Thus the government plans to create opportunities for widening of the tourism season in the Black sea and mountainous regions by transforming them into golf destinations.

The golf tourism is one of the most profitable tourism businesses in the world. Bulgaria provides unique combination of favourable climate, natural sightseeing and mineral springs and stands a high chance to become an attractive golf destination on the Blakan peninsula. The prime minister of Bulgaria Mr Sergey Stanishev formed a work group for the examination of the opportunities for development of golf tourism in the country last year.

The government will be a sole proprietor of “Golf Development” Ltd. Its capital will be 9 182 000 BGN, distributed in 9183 personal shares with a nominal of 1000 BGN. 12 land plots will be included in the capital of the company. Until the present moment they were managed by the Governmental Forest Agency as part of the governmental game station “Balchik”. Their total value is 9 133 000 BGN. The company will be managed by a board of directors with a mandate of 3 years.