Asian firm set to build new property in Bulgaria

A Hong Kong developer is planning to build new commercial property in Bulgaria.

Regal Hotels intends to expand its worldwide operations by constructing property in Bulgaria and other European locations, it has revealed.

Business development president Richard Hodges says the construction of new hotels proves the proverbial glass is "half full".

"It's not all doom and gloom. There are a lot of great opportunities around the world," he comments.

Mr Hodges adds that interest in the new developments is great, proving the popularity of property in Bulgaria.

The opportunity for future growth is a further indication the global economic crisis is not all-encompassing, he states.

People need to adopt a more positive attitude to travelling in order to benefit from overseas opportunities, Mr Hodges concludes.

Kamen Kolev, director of the Bulgarian Industrial Association, recently claimed there has been a boom in investment in commercial property in Bulgaria, as international companies seek to take advantage of lower rental rates and cheaper labour costs.