Bld To Shed Winter, Seaside Projects In Bulgaria

Residential property developer Bulgarian Land Development (BLD) said it has put up for sale its holiday projects Riverland in the western ski resort of Borovets and July Morning in Kavarna, on the northernmost Black Sea coast.The fund is pressed to sell by shareholders demanding bigger profits and better return on equity, BLD executive director Dimitar Savov said, adding that the projects have attracted prospective buyers from Russia and the Middle East.BLD raised its 40 million pounds on the alternative segment of the London Stock Exchange. Its portfolio comprises nine office, holiday and urban projects.The developer posted revenues of 115 000 pounds and a pre-tax loss of 187 000 pounds for 2007.The July Morning project will go up in a several stages, the first set to deliver 351 one- and two-room flats, maisonettes and studios on a 9.5ha plot. The complex will have three swimming pools, indoor and outdoor sports facilities, a tennis court, a spa centre, shops and eateries. Prices range between 43 000 and 100 000 euro depending on size and location.The Riverland mountain complex will sprout on a 5.6ha land plot near the ski resort of Borovets. It will feature ten home buildings with four types of flats now up for grabs off-plan.