Bulgaria investment authority bets big on golf

Dnevnik Daily, 23rd October 2006

The combined tab of the golf projects in various stages of development across Bulgaria is around 700 mln levs, said the InvestBulgaria Agency, the local investment promotion authority.
Golf tourism is now considered a priority for InvestBulgaria which has put together a task force to review local legislation and come up with changes to bolster golf investment.
InvestBulgaria is expected over the next two weeks to hand a First Class Investor certificate to the Cabland Golf Complex near Pomorie, on the Black Sea. The 370 mln lev project is the third local golf development to earn a First Class certificate after the golf course project of Spain's Ferry Group and Golf Club Ibar.
Ferry Group plans to invest 260 mln levs in the construction of a golf complex near the village of Katina, in the Novi Iskar region.
Golf Club Ibar, located in the town of Dolna Banya, in the Kostenets municipality, will absorb 75 mln levs.
Currently local golfers have a choice between 3 completed courses. Another 30 are on the drawing board. They form 3 clusters: along the Black Sea coast with sites in Kavarna, Pomorie, Primorsko and Balchik; in the local ski resorts like Bansko and Razlog; and near the capital Sofia.


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