40% of Bulgarian Black Sea Hotel Projects Remain Unfinished
Up to 40% of the hotel construction projects on the Bulgarian Black Sea coast remain uncompleted due to reflux of real estate buyers, according to the Bulgarian Construction Chamber.
Bad quality hotel-building projects, poor construction and unfounded high prices repulse the properties purchasers leaving many sites frozen in the southern coast areas around Sunny beach resort, Ravda, Primorsko.
“Many ugly buildings in bad quality were built. It happened until 2009 when all sort of builders came, bringing very bad image to the construction sector in Bulgaria”, said Nikolay Nikolov, a member of the Bulgaria’s Construction Chamber.
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