Low-rise holiday village will be built near Losenets, Tsarevo municipality. Coral Residence will be completed and start operation in 2010. The investors are Immoeast and Prime Property BG, the design was prepared by PrArh Ltd. - Galin Vasilev, the construction works contract is to be awarded.

The building plot is 40,000 sq. m, the gross-floor area is 48,000 sq. m. The investment will amount to BGN 40m. The complex include a small hotel with five above-ground floors, ten VIP houses, the highest of them with four levels. The total number of apartments is about 230 including studios, one-, two- and three-room apartments. The residential space is about 35,000 sq. m with capacity of 640 beds.

The complex targets the top segment of the holiday property segment with a high quality of services. It will offer a spa centre, a public services centre and a full infrastructure, a day bar, fast food restaurants, tennis courts, an open-air swimming pool and 170 parking slots. The location is on a beautiful creek with a nice beach. One of the investors top priorities was the conservation of the natural environment. The building will fit its landscape.

The building works are to start in April, the completion is scheduled for 2010. The selling price varies between EUR 1,200 and EUR 2,000 per sq. m depending on the location, the exposure and the completion state.