Spanish Iberdrola Inmobiliaria begins construction of Coral Beach Elite at Bulgarian seaside

Spanish real estate developer Iberdrola Inmobiliaria has initiated the construction of a holiday resort complex, Coral Beach Elite nearby Tsarevo in south Bulgaria. The project is the brainchild of chief architect Stefan Dobrev with the assistance of the urban planning department from Harvard University, Bulgarian daily Morski Dnevnik reported on July 30 2009.

According to documentation submitted by the project's main investors, the complex will have a footprint of 236 645 sq m, over which a luxury hotel, a luxury real estate complex with 2 500 apartments, a retail centre and a spacious sports and recreation zone are earmarked for construction.

According to the Iberdrola blueprints, the completed enterprise will have a direct 800 m access to the sea front. The complex will have its own green belts and bicycle alleys.

Iberdrola Inmobiliaria is a construction and real estate development-specialised sub-branch of the Spanish holding, Iberdrola, which is one of the four largest energy companies in the world, Dnevnik said.

The company manages and develops properties in Spain, Portugal, Mexico and Bulgaria.

Text source: sofiaecho.com
Image: Anelia Nikolova

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