Varna, being the 3^rd largest city in Bulgaria, has the highest rate of construction of new buildings in the past couple of years, in comparison to other towns in the country.

For many years now the Sea Capital is one of the most attractive destinations to locals, as well as to foreign investors. The opportunities, which the city offers with its sea outlet, are many.

Apart from the transport connections to Russian and Ukrainian Black Sea ports, the city is also one of the most popular tourist destinations in Bulgaria as well as abroad. Every summer season Varna and the surrounding tourist complexes are visited by thousands of holiday-makers from Russia, Germany, the Scandinavian countries and many others.

In the past couple of years many construction companies and private investors are looking towards Varna and the region, where most of them have succeeded in realizing major projects.

Eurolink Investment Group is one of the major investors in the Varna region. Their vision is to create a brand new city, New Varna, which will become a preferred place for living, raising children and retiring. They aim to create a modern and environmentally friendly city, which will offer high standards and quality of living to its inhabitants. Below are some of the Group’s projects:

1. Being the largest project in Varna, Aphrodite Hills Golf Course and Spa Resort will be built over an area of 1 200 000 sq.m. of land, which roles over hills, slopes and river banks, in full harmony with the surrounding forests and lakes which make up the terrain. The project includes the creation of a residential zone, where 250 super luxury villas will be built. The Group’s target and wish is that the golf course will be completed and ready for a kick-off in the spring of 2012.

Aphrodite Hills

2. Marina Hills consists of 1 400 000 sq. m. of land and 25% of this will one day be covered with super luxury two-storey villas and exclusive residential units. Presently the area is covered with mature vineyards, a good number of which will remain after the development, to complement the luxury homes planned to be built.

3. Located only 300 meters from the Varna - Beloslav carriageway and surrounded by oak and pine woods on one side, and an ocean of vineyards on the other, Eagle’s Nest will become a home to a number of very special people. The Group is already working on the process of getting building permits for a project of 20 super luxury houses and other facilities to be built over an area of 300 000 sq. m.

4. Marina Gardens is a very special and highly sought-after location. The Group has planned and very soon we will start building some of the most beautiful and exclusive homes, suitable for people who cherish quality of living and comfort. The built-up area will be 40 000 sq.m. The recently approved new Varna Master Town Plan provides for a medium size municipal Marina, which will have 150 mooring places and will be constructed right in front and between the building site and the Sea Lake, thus giving direct access to the inhabitants of Marina Gardens and mooring facilities for their boats and yachts.

5. The Pinewood has a secluded location, on a hill, overlooking the town of Beloslav and surrounded by a pine forest. It will be part of a small development, consisting of about 25 affordable units, some detached and some semi-detached perfect for middle-aged families and retirees. There will be planted gardens, communal swimming pools, communal gym and communal medical facilities. The build-up area will be 30 000 sq.m.

6. Quality living and top quality medical care go hand in hand and therefore the Group has decided to include a hospital in their priorities. The Hypocrateon Hospital will be built on 36.000 sq. m. of land, which is located in proximity to Marina Hills, while the E87 motorway leading to Varna and Bourgas is just a 3 minutes drive away.

For all projects of Eurolink Investment Group visit www.eurolink-bulgaria.com.

Other local companies and foreign investors are also realizing projects in the region of Varna.

Currently the biggest project being executed is the residential complex Electra Hills, located in a village near Varna. It covers an area 400 000 sq.m. and it is expected to be completed by 2013 offering buyers holiday villas and a trade centre.

The second project in terms of total built-up area is Panorama City, covering an area of 238 000 sq.m. It will consist of residential and administrative buildings, a trade project, a hotel, sports facilities and an entertainment zone.

Following is Grand Mall Varna with an area of 200 000 sq.m, which is expected to be completed in 2010.

Grand Mall

The next project in line covers a territory of 120 000 sq.m. It includes residential and trade areas and the investors plan to complete it in 2011.

Galeria Varna multifunctional complex is the 5^th major project in the region of Varna with an area of 100 000 sq.m. The building will open doors by the end of 2009.

Below is a list with all grand projects to be realized in Varna in the next couple of years:

Aphrodite Hills Golf Course and Spa Resort - 1 200 000 sq.m
Electra Hills residental complex - 400.000 sq.m.
Panorama City - 238 213 sq.m.
Grand Mall Varna - 200 000 sq.m.
New Varna Residental complex - 120 000 sq.m.
Galleria Varna multifuctional complex - 100 000 sq.m.
Varna Business Centre - 89 682 sq.m.
Varna logistic centre - 85 000 sq.m.
Cherno More Park - 82 000 sq.m.
Varna Towers Mall multifunctional complex - 70 400 sq.m
Varna Mall Trade Centre - 70 000 sq.m.
Business Park Varna - 65 894 sq.m.
Sport Complex Varna - 51 500 sq.m.
Varna South bay holiday complex - 43 000 sq.m.
Festa Tower residental complex - 42 000 sq.m.
Orchid Hills Varna Residental complex - 40 545 sq.m.
Orchid Gardens Varna - 42 443 sq.m.
The Pinewood - 30 000 sq.m.