News
Top Investment Properties
The World’s Longest Cable Car to Link Granada to the Sierra Nevada Mountain Range.
Bulgaria to get EUR 3.5bln in EIB Funding by 2013
82000 Foreigners Apply for Bulgarian Citizenship
Batch of Low-cost Air Carriers Eye Bulgarian Air Travel Market
The world’s longest cable car will link Granada to the Sierra Nevada mountain range.
The project, which is planned for 2010, is backed by a €150 million investment.
Granada, Spain.- From 2010, the Sierra Nevada mountain range will have the longest cable car in the world, linking the mountain range to Granada city. The railway will be able to carry 3,600 people per hour on a 40-minute journey.
The project has an investment of over €150 million, thanks to the commitment of its developer, the company Teleférico Sierra Nevada S.A., which is comprised of private companies from the Granada area which are hoping that this new infrastructure will boost employment and tourism in the Nasrid city.
The journey will start at Los Cármenes stadium in Granada city and end at Pradollano, with four intermediate stops at Huetor Vega, Monachil, El Purche and Tajo del Zorro.
The cable car will have over 100 cabins with capacity for 30 people each, and will be fitted with every available security system and even with heating and air conditioning facilities.
The initiative, which will respect the environment throughout the twelve hectares it will occupy and will at no time encroach on the Sierra Nevada National Park, will overcome the 1,500 height difference between the city and the ski resort.
The cable car, which will create over 2,000 jobs and increase the province’s economic activity by around 1%, will result in an “environmental saving” of approximately €500,000 per year. This will be as a result of the new way of accessing the mountains, which at the moment can only be reached by road.
As emphasised by some of its promoters, this initiative will turn Granada into a point of reference for tourism worldwide, and will compliment the city’s other attractions such as the mountains themselves, the Alhambra and the Science Park.
The first proposal to link the city to the Sierra Nevada mountain range was made in the early 20th century, and was based on the creation of a set of funicular railways which never went ahead. This ambitious cable railway project is therefore an attempt to achieve a historic aim.
In addition to the private initiative, the project also has the backing of several public institutions, which have highlighted the importance of having this type of transport infrastructure.
Furthermore, according to a survey presented yesterday by Juan Antonio López, the Chairman of the company which has driven the project, nine out of every ten inhabitants of Granada who took part in the survey were in favour of the cable car, and a majority believed that this will be “very important” for Granada.
Bulgaria to get EUR 3.5bln in EIB Funding by 2013
The European Investment Bank (EIB) and Bulgaria have signed a memorandum of understanding, setting a support framework by the EIB worth 500-700 mln euro per year in the time period 2007-2013.
Money will improve Bulgaria’s national transport and basic infrastructure investment plans, the bank said in a press release. With the agreement, the bank's activities in Bulgaria will be based on the following objectives:
• Improve and upgrade the country’s basic infrastructure in the transport and environment sectors in combination with EU grants and other sources;
• Promote and strengthen economic growth and development through combination with EU grants, government and private funds;
• Cooperate closely in the implementation of projects financed by the bank; provide technical support and expertise for selected EU Cohesion and Structural Fund projects defined in the JASPERS (Joint Assistance to Support Projects in European Regions) Plan;
• Assist the Government in the implementation of a national PPP (The Public-Private Partnership) program.
The EIB has extended 180 mln euro to Bulgarian banks so far. The 30 mln euro global loan will be used to give more access to finance for small and medium enterprises as well as municipal infrastructure projects in Bulgaria, the EIB said in a press release.
Another 10 mln euro portion of the loan will support infrastructure finance notably in the municipal sector. This amount will be complemented by a 1.25 mln euro grant from the European Commission under the EU Municipal Finance Facility. The EIB’s cumulative financing in Bulgaria stands at 1,24 bln euro and relates to investments in a wide range of key economic sectors.
Investorbg, 6th October 2006
Back to top
82000 Foreigners Apply for Bulgarian Citizenship
Solomon Passi, chairperson of the Bulgarian Parliament’s committee of foreign affairs, said that 82 254 foreigners from 29 countries have applied for Bulgarian citizenship since 2000.
Close to 10 000 applications were submitted in the first nine months of 2006 alone, said Passi, according to a report by the Bulgarian National radio (BNR). This invasion is determined by Bulgaria’s positive development in recent years, favorable investment climate and the upcoming accession to the European Union on January 1 2007. What is more, according to Passi, Bulgaria could partially resolve its demographic problems by attracting more foreigners to the country.
Sofia Echo, 16 October 2006
Back to top
Batch of Low-cost Air Carriers Eye Bulgarian Air Travel Market
Four low-cost carriers have shown their interest to offer regular flights to and from Bulgaria starting January 1, 2007 when the local aviation market opens to competition.
Italian low-cost airline Myair will introduce on February 15, 2007 a new flight between Bologna, northern Italy, and Sofia. The service will be available three times a week.
Ireland's Ryanair, Britain's easyJet and Germany's Germanwings have also forwarded a flight schedule to the Sofia airport. Ryanair has proposed a service between Sofia and Frankfurt.
EasyJet wants to fly between Sofia and London. The company confirmed it was in talks with 50 airports, including Bulgaria. Several low budget carriers are also seeking regular slots from 2007 at the Bourgas airport, on the Black Sea Coast.
Norwegian Air Shuttle, Britain's Thomsonfly, Germanwings and Ryanair are all interested in flying to Bourgas, said Kalin Barzov, executive director of the airport. The Norwegian carrier has proposed flights to Poland, Norway and the rest of Scandinavia from March 2007.
German Wings will fly from Bourgas to Duesseldorf and Cologne. SkyEurope and WizzAir are the main players on the Bulgarian low budget market at the moment.
Recently Sofia signed the Open Skies Agreement that grants all European carriers access to the local market. The document is expected to be ratified by the Bulgarian Parliament within a month.
Novinar Daily, 11th October 2006
Back to top
Kempinski Hotel Grand Arena Bansko became the first hotel in Bulgaria to be a member of Leading Hotels of the World, Ltd. In a media statement, the Kempinski said that this marked a historical moment in the hospitality industry in Bulgaria. The membership came into effect on February 13 after the hotel went through an intensive three-day incognito audit. The media statement said that the Leading Hotels of the World was established in 1928 and was the prestigious luxury hospitality organisation representing more than 430 of the world’s finest hotels, resorts and spas in 80 countries. Requirements for becoming a member of Leading Hotels of the World stipulate that a hotel meet specific standards of excellence in all areas affecting guest comfort, convenience and well being. On successful completion of a rigorous application and inspection process, only the most eminent hotels are accepted for admission, the statement said.
Sofia Echo: Business Briefs, 26th February 2007
Back to top
Medina Elvira, Granada
Located in southern Spain, next to the city of Granada and the Sierra Nevada ski resort. Medina Elvira Golf Resort and Country Club is unique to the Granada area & is the finest residential development in Granada.
Apartments and villas from €157,851
5% GUARANTEED RENT for up to 10 years
Or Variable rental programme
Extensive facilities and outdoor activities
Sahl Hasheesh, Egypt
Pyramisa Resort is a hotel complex directly on the private beach of the Sal Hasheesh tourist area of Hurghada.
Apartments starting at £39,184
GUARANTEED RENT for up to 10 years
Up to 8 weeks personal use
5* BEACH FRONT complex
Golf to the rear
Fully furnished, managed, maintained & insured
Caicos Beach Club,
Turks & Caicos Islands
Situated in an underdeveloped island, South Caicos. The Caicos Beach Club Resort Spa & Marina is expected to be of 4 star rating and will host a wide range of amenities within some 185 acres of peninsula.
30% - 45% under market value compared to similar properties in Turks & Caicos
Ocean Front Views, many with Sunrise & Sunset views
Rental Management Programme
2 weeks free holiday usage, plus various option for personal use
Fully furnished
No Income Tax on revenue generated from property
No annual Real Estate, Inheritance or Capital Gains Tax (in Turks & Caicos)