Razlog Becomes a Concentrated Golf & Resort Centre in Bulgaria

24 hours daily, 26 April 2007

The Bulgarian golf courses, together with the golf villa complexes and the vacation villages, built next to the golf properties have recently been in the very spotlight of all property investors in Bulgaria.

At this point the region of Bansko and Razlog is the leading destination for the largest number of golf projects in Bulgaria. So far there are 7 golf projects planned for this particular mountain area. Some of the projects have already been put in implementation, while the others are still developing. Six of the golf courses are planned to be constructed in the municipality of Razlog, the seventh is in Bansko ski resort.

Pirin Golf Holidays Club”, the first vacation complex in Bulgaria is in process of construction now, on a total area of 1400 decares in Betolovoto site. Investor and executor of the project is the Bulgarian company “Balkanstroy”, owned by Kaloyanovi brothers and Yordan Kanazirev. The golf course is designed by Ian Woosman and its construction is almost completed. The terrain of the golf course is spread on 900 decares and has 18 holes. Near the golf course residential buildings and hotel complex with 700 apartments will be built. The complex should be finished by next year, but will partly start operating this summer. 130 Million BGN will be invested in the project.
The residential site will offer five-star accommodation with a modern spa centre, swimming pools, tennis courts, volleyball playgrounds and horseback riding fields.

The second project of Balkanstroy is “Pirin Golf and Country Club”, and is also estimated to cost 130 million BGN. It will be situated in the Tsarnako-Betlovoto site. The company received a first-class investment certificate for this project. The construction works on the complex are to begin soon. The project will be spread on 1000 decares, 780 decares of it will be taken by the golf course. Residential buildings, hotel part and sports & recreation centre will be situated close by. It is planned to be completed after 3 or 4 years.

The third project of BalkanStroy developed in cooperation with Razlog Municipality – Kulinoto Ski & Golf in the Kulinoto site will offer both golf and ski facilities and sport opportunities. The planned investment will be 240 million BGN. Except for the golf course, the company will also construct a ski centre with 59 km of ski slopes and 20 km long lift system. Hotels and residential buildings with capacity of around 3000 beds will be situated nearby. For the last years the sites nearby Razlog attracted many domestic and foreign investors. The price of square meter of land reached 100 EUR. Several huge vacation complexes are currently being developed and more than 1000 decares in the regions, close to the golf courses are already sold.

Four villages in Razlog Municipality will also have golf courses. The local Parliament made a decision on its last session to participate in four companies in the sites of Dobarsko, Godlevo, Gorno Draglishte and Dolno Draglishte.

The complex nearby Dobarsko will be the 4th project of “Balkanstroy” and in the joint company “Rila Golf & Spa Resort” the municipality will participate with 1390 decares and will hold 30 % shares from the funds. The municipality will also participate in a joint company – Razlog Golf Club, together with the UK Company ECPM.
The municipality participates with 2235 decares nearby Dolno Draglishte Village and will hold 30 % of the shares in the company.
The golf course nearby Gorno Draglishte will be spread on another 1430 decares. It will be constructed by Razlog Valley Golf & Spa and the Municipality will hold 30 % of the shares. Investor in the project is The Valley Company, owned by Krasimir Katev, Vladimir Karolev, and Algen Lingorski.

The municipality will receive one fifth from the shares in the “White Mountain Golf Club” for the implementation of the complex nearby the village of Godlevo, which will also be spread on municipality lot of 1400 decares. Investor is “North Investment” Austrian Company.
So far there is only one golf project near Bansko, developed by the company Golf Plus, which is owned by the first Bulgarian cosmonaut Georgi Ivanov. Several years ago the company bought 370 decares municipality plot on an auction.

Golf also becomes popular along the Northern Black Sea Coastline of Bulgaria. A brand new golf course for 120 million BGN is now being developed nearby Boujurets Village, Kavarna Municipality. The “Thracian Cliffs” complex is designed by the legendary golf player Gary Player. It has been projected by the biggest company in the field – WATG. According to the mayor o Kavarna, Tsonko Tsonev this is the largest investment along the Northern Black Sea coast. The mega project is owned by Bulgarian businessmen, who registered an Austrian company, named “Tempe”. The golf course will be spread on a total area of 1800 decares and will be situated on a high plot, facing the sea. Except golf terrains the site will offer a 5-star hotel, 90 villas and a huge SPA & Relax centre. Numerous restaurants, clubs, a trade centre and a yacht port are planned in the future complex. The total bed capacity of the complex will be between 7000 and 9000. The first part has to be completed during the summer of 2008. The next stage will be finalized in 2010. At the moment almost 100 of the apartments are already sold off-plan. The main idea is the owners of the properties in the site to be able to play golf in the complex. The others will be able to use the terrain only if they have paid an annual fee of 40000 EUR to the World Golf Association.

Another golf course will be situated in close vicinity to the Thracian Cliffs, on the territory of Balchik Municipality. “Black Sea Rama” Company is constructing the next golf complex on The Northern black Sea Coastline. Owners of the company are Krassimir Gergov, Andcrey Ralchev and Kancho Stoichev. The complex will be spread on a plot of 1000 decares in Tabiyata site. The design again is made by the popular golfer Gary Player. The first golf players will be able to play in September 2007.
According to Krassimir Gergov, who is a chair-man of the Bulgarian Golf Association the complex will cost around 100 million EUR. The funds for the construction of the golf course come from the off-plan sale of the 350 one-family villas in the complex.

On the terrain next to Black Sea Rama, another golf course is planned to be constructed. It will cover an area of 968 decares and will cost 56 million EUR. The investments will be made by Balkanstroy Company again. “Lighthouse Golf Resorts” Complex will have a professional 18-hole golf course, training field, riding field, SPA centre, hotel complex, luxurious trade centre and modern villas.
Golf courses are planned in the region of Shabla as well. The owner of Litex, Grisha Ganchev and TIM Group have already declared their investment interests in the municipality. However the total share of the investments and the plans for the construction are not evident so far.
The preliminary researches of the sea municipalities show, that the total amount of the investments on golf projects along the Northern Black Sea is estimated at around 100 million EUR.

Three years ago construction works started in Kableshkovo Village as well. Investor of the golf course near Kableshkovo is the Spain Company “Kabland”. “Kabland Golf Complex” construction is estimated to exceed 53 million EUR. The course will be spread on 2000 decares and will have 18 holes. The course will be part of a mega project for luxurious village with villas, hotels, shops, casino and tennis courts.

In 2008 another golf course will be officially opened in Primorsko. It is being constructed in Silihryarski Yurt site. The municipality is a shareholder in “Primorsko Golf” Company, which is investor in the project. The construction of the course will cost 12 million BGN, Municipality of Primorsko stated.