Israeli-Bulgarian Group To Invest 250 Mln Euro in Holiday Complex in Bulgaria

The complex will aim to attract a large number of affluent tourists, Yoav Shenhar, CEO of Tidhar Group's Bulgarian unit, told SeeNews.

The five-star Razlog Village will be built on a land plot of 15 hectares which Tidhar initially had planned to develop into a 50 million euro apartment complex.

“We made new studies and decided to build a hotel-type holiday village sticking to the highest standards,” Shenhar said.

The construction of the complex comprising a luxury hotel with casino, a spa hotel and a resort hotel, as well as holiday villas, an apart-hotel and a luxurious gated village, will start in 2009 and is slated for competition in 2012.

Razlog is situated close to the country's major ski resort of Bansko in the outskirts of Pirin and Rila mountains.

($ = 0.7124 euro)