Business expansion
Severna Bulgaria; Severoiztochen; Varna
Location of affected unit(s)
Kaliakra (Varna region)
Hotel / Restaurants
Accommodation And Food Service Activities
55 - Accommodation

250 jobs
Number of planned job creations
Job creation
Announcement Date
31 May 2006
Employment effect (start)
1 January 2009
Foreseen end date


The Bulgarian-British firm “Kaliakra Invest” OOD will invest €60 million in a new vacation village in the coming 3.5 years, director Ivan Stanchev announced. The village will be named Green coast. The project will be realized in two stages. In the next 1.5 years 400 apartments will be built on 85,000 sqm near Kaliakra cape at the Black sea. The Green coast village will be finished in 3.5 years and will finally have 1,400 apartments. The announced price per sqm is €300–320. A part of the village is already sold, and the majority of the new owners are British. Recently they were joined by a group of Latvians, who invested in property at the Bulgarian Black sea. The region offers an ecologically clean environment. The Green coast will be equipped with a helicopter platform, spa centre and a hotel for 200–250 persons. Some 250 jobs in the service sector are expected to be created there.



Eurofound (2006), Kaliakra Invest, Business expansion in Bulgaria, factsheet number 63589, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63589.