Bulgarian real estate investment trust (REIT) has put on hold a project to develop a ski and spa complex in the upscale mountain resort of Borovets. The news was confirmed by the REITs executive director Vesselin Genchev.

"We suspended the project before the New Year. We have secured financing for this project but apartment sales have been slack and there was no point moving forward," Genchev said. He added that this was a temporary decision and the company might get back to the project once it has completed its two ongoing projects in the capital city of Sofia.

The other option is selling it out, Genchev explained, adding that the project has already been put up for sale at a price "close to its prime cost." This is the second out of four projects that BenchMark puts on ice.

This News is listed at news.Guide-Bulgaria.com

apartment for sale Borovets 43 m2 € 55538

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