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22.05.2007 PROPERTY FOCUS: BULGARIA`S DOBRINISHTE INVESTOR CHOSEN

Sofia Echo, 21 May 2007

Galchev Engineering Group in co-operation with Austrias Norema was chosen as the investor for the construction of the Dobrinishte tourist ski zone.

This was said by Radko Lechov, head of the Bansko municipal council, at a council meeting on May 13, Investor.bg reported.

We chose Galchev Engineering Group after serious investigation of its activities. It turned out that the company has serious experience in building tourist complexes. Norema has strong financial potential. The combination of the two is extremely good, Lechov said.

At the next meeting to be held in June, the two holdings are expected to form a mixed share holding with Bansko Municipality to carry out the project. The intention is for the municipality to have strict control over the building of the ski zone, Lechov said.

Building was expected to start by the end of the year, he said.

The ski zone will be designed by the same person who designed the ski zone in Bansko, architect Emil Lechov. The project will cost about 200 million leva.

Investor.bg said that last year, because of increasing interest in the Dobrinishte project, Bansko municipality worked out the basics for the development of the resort. This was presented to potential investors. Among investors that took an interest in the project were Nord Invetment Inc, and Sunset Developments Ltd, the owner of the two mountain huts and the hotel in Dobriniste. Later, Sunset Developments Ltd changed its name to Dobrinishte Ski Ltd.

Last October, the Invest Bulgaria Agency gave Dobrinishte Ski a first class investor certificate for the ski complex project. For now, it remains unclear why the Dobrinishte Ski Ltd project did not go further. An official statement by the Invest Bulgaria Agency was expected.

Currently, the ski complex in Dobrinishte includes the Dobrinishte hotel which has a 130 bed capacity, Gotse Delchev hut (40 beds), and Bezbog hut (140 beds). The ski track is five km long. It starts at Bezbog hut and finishes at Gotse Delchev hut. It is 30 m wide, with two lifts, ski drags, and a ski school.

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