Shady TIM Group Moves to Acquire Key 5-Star Hotel in Sofia
Bulgarian business group Chimimport is the likely buyer of the Kempinski Hotel Zografski, the largest 5-star hotel in Bulgaria's capital Sofia.
HOT: » Which party would you vote for (if you could) in the upcoming snap vote in Bulgaria on April 19?
“Alley One,” in Varna's beautiful “Maritime Garden” is a prime beach-front property. Photo by BGNES
The Regional Directorate for Construction Control in Bulgaria's Black Sea capital Varna announced Wednesday they are halting the controversial construction on the so-called “Alley One” in the city's park “Maritime Garden.”
According to the Directorate, which is under the Regional Ministry, the Varna City Hall had violated the law by issuing building permits for beach-front construction. They further say they will ask the Prosecutor's Office to begin a probe against Varna's Chief Architect, Petar Yordanov.
The permits are deemed illegal because they have been granted without preliminary approved projects for the buildings and permits for stabilizing the landslides and for the draining of the terrain.
In the beginning of June, the Varna City Hall announced their decision to give rights for the construction of 5 buildings along the beach-front alley to “Holding Varna,” which is a company belonging to the murky, surrounded by secrecy and legends, business group TIM.
Petar Yordanov insists the Regional Ministry had given them the go ahead to issue the building permits under the condition the construction would not begin before the landslides in the area are stabilized, something Regional Minister, Rosen Plevneliev, firmly denies.
In response to Plevneliev, the Mayor of Varna, Kiril Yordanov, distributed on June 4 an open letter to the media, insisting the authorization in question had been personally signed by Minister Plevneliev on January 25, 2010.
"Holding Varna" announced plans to begin cultivating the terrain on October 1, and then start the building construction.
Housing prices in Bulgaria have surged by 157% between 2015 and the end of 2025
The Bulgarian real estate market is showing signs of cooling in early 2026, with experts reporting a slowdown in transactions and a shift toward more balanced conditions between buyers and sellers
In 2026 the Bulgarian residential market is shaped less by size and more by adaptability.
Bulgaria’s entry into the Eurozone marks a defining moment for the country’s real estate sector.
The housing market in Bulgaria is undergoing notable shifts, with buyers increasingly prioritizing location and accessibility over sheer size.
Property values in Sofia have surged by approximately €500 per square metre over the past year, according to data from one of Bulgaria’s largest real estate agencies. Across the country’s main cities, housing costs climbed by 20% in the final quarter of 2
Aniventure Comic Con Returns to Bulgaria with Star Guest Christopher Judge!
Global Fuel Shock: Oil Jumps Over 40% Since Iran War Began