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10 EXTRA PAGES ON REAL ESTATE issue 88 april 2008 AmAm ChamCham Interview:Interview: BoykoBoyko Borisov,Borisov, SofiaSofia MayorMayor AlexAlex Nestor,Nestor, DundeeDundee PreciousPrecious MetalsMetals Analysis:Analysis: TheThe RealReal EstateEstate OverviewOverview -- Business,Business, Residential,Residential, Recreation,Recreation, GolfGolf AlbaniaAlbania && CroatiaCroatia toto JoinJoin NATONATO MeetMeet thethe newnew members:members: EmporikiEmporiki BankBank Bulgaria,Bulgaria, KimimpexKimimpex TradeTrade && Leasing,Leasing, MBLMBL Ltd.,Ltd., VMVM FinanceFinance GroupGroup UnitedUnited BulgarianBulgarian BankBank AmChamAmCham VolunteersVolunteers toto MakeMake ParksParks inin SofiaSofia NicerNicer American Chamber of Commerce in Bulgaria Business Park Sofia, Mladost 4 Area, Building 2, Floor 6, 1766 Sofia Tel.: (359 2) 9742 743 Fax: (359 2) 9742 741 homepage: www.amcham.bg e-mail: [email protected] editorial Dear Reader, Let me ask you a very simple question: "Do you happen to have a car?" If your answer is 'yes,' keep on reading. If it is 'not,' skip the next paragraph. So, you have an automobile, which is very likely to be used at least once a week in the Sofia downtown, where most of the government institutions, tax offices, banks, and other important businesses are located. Don't you think that getting around the downtown area has been becoming increasingly difficult? Sofia Mayor Boyko Borissov seems to agree with you. He gave us an inter- view (see Page 24), in which he explains that once the construction of Sofia Metropolitan is completed, the access to the city center will be regulated by a fee. But how long will the metro construction last? Four, five, or more years? By then, our nerves will be so frayed that most of us will have left Sofia for some other, better organized European capital. Living standards improve, as people work hard and more of them are able to afford city apartments and cars. They all want to live in a place with decent infrastructure. Every time they leave their apartments, however, they have to deal with congestion on unbelievable scale. Disappointment inevitably sets in. I understand the numerous problems the Sofia mayor has to tackle, yet he is expected to do a lot more by the taxpayers of the city under his rule. Some semblance of hope that things may start improving was generated during the meeting between AmCham members and Borissov, which we report on Page 22. Several other materials in this issue of AmCham Bulgaria Magazine should grab your atten- tion as well. Boyko Vassilev explains the perspectives before Albania and Croatia after they were invited to join NATO on Page 34. Yuliana Boncheva on Page 26 tells us about the Catch-22 situation of Dundee Precious Metals, a company, which has been a long-time AmCham member. Something valuable to all of you is offered in the set of articles on real estate, which covers the future of golf course construction in Bulgaria, office space market, 2008 April Magazine AmCham Bulgaria and announcements of coming projects by large construction and investment companies from Page 4 to Page 20. Enjoy your reading! Milen Marchev Editor-in-Chief page 1 contents issue 88 april 2008 AmCham Bulgaria Magazine is a primary forum for political and economic analyses, news, viewpoints as well as for the presentation of new business oppor- tunities. The articles in the AmCham Bulgaria Magazine express the opinions of the authors and do not necessarily reflect the position of the American Chamber of Commerce in Bulgaria. Publisher Writers: American Chamber of Commerce in Bulgaria Boyko Vassilev, Marina Tzvetkova, Business Park Sofia, Mladost 4 Area Mina Georgieva, Panayot Angarev, Building 2, Floor 6, Sofia 1766, Bulgaria Yuliana Boncheva Tel.: +359 (2) 9742 743 Fax: +359 (2) 9742 741 Advertising e-mail: [email protected] AmCham Bulgaria: www.amcham.bg Nadejda Vakareeva, [email protected] AmCham Bulgaria Magazine: Editor-in-Chief Milen Marchev, [email protected] Milen Marchev Deputy Editor-in-Chief: The AmCham Bulgaria Magazine reaches a broad audience Christopher Karadjov of AmCham members, leading US, Bulgarian and internation- al companies, US and Bulgarian decision-makers, all Senior Editor: AmChams around the world. Irina Bacheva Subscription is free of charge. If you would like to subscribe to AmCham Bulgaria publications, please contact the ISSN 1312-935X AmCham Bulgaria office. iF YOUR AD WERE pLACED HERE, AMCHAM ADVERTISING RATES BACK COVER ....................1330 BGN OUR ESSAGE SECOND COVER ................1220 BGN Y M THIRD COVER ..................1180 BGN • WOULD BE CONVEYED TO THE LEADING US, INTERNATIONAL AND TWO PAGES SPREAD ............1440 BGN BULGARIAN COMPANIES OPERATING WITHIN BULGARIA; FULL PAGE ........................960 BGN HALF PAGE ........................780 BGN • WOULD REACH THE DESKS OF SENIOR EXECUTIVES AND DECISION-MAKERS QUARTER PAGE ....................580 BGN WHO DEMAND HIGH QUALITY PRODUCTS AND SERVICES; LOGO ..............................350 BGN INSERT ............................840 BGN • WOULD TRAVEL ACROSS THE EUROPEAN CONTINENT AS WELL AS THE UNITED STATES, TAKING FULL ADVANTAGE OF THE INTERNATIONAL NET- DISCOUNTS: WORK OF AMERICAN CHAMBERS OF COMMERCE; 2 AMCHAM MEMBERS ..................20% • WOULD SERVE AS AN IDEAL NETWORKING OPPORTUNITY FOR POTENTIAL ADVERTISING AGENCIES ..............15% FOREIGN INVESTORS AND BUSINESSMEN VISITING BULGARIA. MAX VOLUME DISCOUNT ............10% THE RIGHT MESSAGE TO THE RIGHT AUDIENCE. For more details please contact: AmCham Bulgaria Office – Nadia Vakareeva, phone: 974 27 43/4, e-mail: [email protected] AmCham Bulgaria Magazine – Milen Marchev, phone: 846 88 32, e-mail: [email protected] AmCham Bulgaria Magazine April 2008 April Magazine AmCham Bulgaria amcham bulgaria Board of Directors of the American Chamber of Commerce in Bulgaria President Mr. Borislav Boyanov Borislav Boyanov & Co. Vice President Mr. Anthony Hassiotis Bulgarian PostBank Contents Vice President Mr. Kenneth M. Lefkowitz New Europe Corporate Advisory Treasurer Tanya Kosseva-Boshova Landmark Property Bulgaria market overview Golf for Maniacs… …and Investors . .4 Members Ms. Olga Borissova Ellief Center, AUBG By Mina Tsvetkova Mr. George Georgiev Motorola Bulgaria Office Space Market in Sofia Mr. Thomas Higgins Balkan Accession Fund Mr. Andon Ichev General Electric Marks Record Growth . .10 Mr. Stefan Ivanov Citibank N.A. By MBL ltd. Ms. Dana Leff AbCRO Bulgaria Property Investors Project Steep Increase in Mr. Chris Thompson Consultant Commercial Rent Space . .12 Ms. Elitsa Tsaneva Ideal Standard Bulgaria Marketing Suite to Serve Sofia Airport Center . .14 Ex-Officio Member Mr. James Rigassio US Senior Commercial Attache Executive Director Valentin Georgiev Bourgas Plaza: First of a Kind . .16 Cleves Enlarges Luxury Portfolio with 45 Sofia 3M (East) AG . AA KRES EOOD . ABB Bulgaria EOOD . Abbott Laboratories S.A. AbCRO - Bulgaria . Apartments . .17 Accor Services Bulgaria . ACO Building Elements Ltd. ACSIOR Ltd. ADIS Ltd. Advance International Transport (Balkan) EAD . AES Corporation . AFA OOD . AIG Bulgaria Insurance & Reinsurance Company EAD . AIG Life Bulgaria . AIMS Human Capital . Alcoa Packaging Bulgaria . Alexander Hughes Bulgaria A Look into the Future - OOD . ALEXANDROV GROUP CORPORATION . Alfred C.Toepfer International . Alliance One Tobacco New Project on the Way in Sofia . .18 Bulgaria . Allied Pickfords Bulgaria . Alter Ego Company OOD . American College of Sofia . American By Ekaterina Nacheva, Marketing & Lease Manager English Academy . American Resarch Center in Sofia . American University in Bulgaria (AUBG) . Anglo- American School of Sofia . Anton Preslavski, Liebert Hiross . APIS - BULGARIA Ltd. APOLO Ltd. Aries Commerce . Ashtrom International Ltd. Association Integra-BDS . Astra Zeneca UK Ltd. Astral Holidays Dubai Investors Bid for Holiday AD . AT Engineering 2000 Ltd. Auditing Company Versi and Partners Ltd. AVON Cosmetics Bulgaria Ltd. Complex in Borovets . .20 . BAE Systems International Ltd. Balkan Accession Fund . Balkan News Corporation Plc. Balkan Star Automotive EOOD . Baxter AG . Bayer Bulgaria EOOD . BC Serdon . Berlitz Schools of Languages . amcham meetings BG Radio . BMG Ltd. Bodyguard-Fire-K Ltd. Borislav Boyanov & Co. Braykov's Legal Office . British American Tobacco . Brown Forman Beverages Worldwide Sofia Branch LLC . Bulgaria Platinum Group AmCham Meets Sofia Mayor . .22 EAD . Bulgarian American Enterprise Fund . Bulgarian Charities Aid Foundation (BCAF) . Bulgarian Land Development EAD . Bulgarian Telecommunications Company AD . Business Media Group . Business Park Boiko Borissov:Our city is the Sofia EOOD . CallPoint New Europe AD . Candole Partners EOOD . Car Rental Bulgaria Ltd. Carlsberg undisputed leader in Bulgaria's economy . .22 Bulgaria AD . Cefin Bulgaria EOOD (IVECO dealer) . Center for the Study of Democracy . CENTURY 21 Bulgaria . Chelopech Mining EAD . Chris Thompson, Independent Consultant . Cisco Systems Bulgaria . news Citibank N.A.- Sofia Branch . City University of Seattle . Cleves EOOD . CMS Cameron McKenna EOOD . Coca-Cola HBC Bulgaria AD . Coface Bulgaria Credit Management Services EOOD . Colgate-Palmolive Chelopech - Gold and Dirt . .26 Adria . COLLIERS International . ConsulTeam Recruitment and Selection Ltd. Cook Communications . By Yuliana Boncheva Corstjens Worlwide Movers Group . CPM Consultancy Sllc . Curtis / Balkan Ltd. D&IC (Dun and Bradstreet Representative) . DeConi International . Deloitte Bulgaria OOD . DENIMAR Ltd. Devin AD . DHL Dundee Precious
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