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Another industrial area looms near Plovdiv

Article published from propertywisebulgaria.com on 2008-02-04 10:10:00
Category: Business in Plovdiv

Agricultural land purchases valued at more than 5 million leva have been sealed near Skutare village, a few kilometres east of Plovdiv.

Three railroad destinations and a strip of Trakia Highway cross the village`s lands, making it quite suitable for a suburban industrial zone.

Investors are buying plots from individual owners with a view to consolidating them. The municipality, on the other hand, does not sell land, according to village mayor Georgi Timonov.

Brisk investor interest has palpably stirred agricultural land prices.

Chesare Savio, for example, decided to move his fabric yarn manufacture plant from Italy to the village of Skutare at the end of 1999. He purchased the land at 2.5 dollars a sq m at that time. Plots near the highway are currently on offer at 15-20 euro a sq m and prices are growing everyday, according to Timonov.

Bulsafil, owned by the Italian entrepreneur, is the first large enterprise in Skutarevo. Average monthly salaries total 500-600 leva and employees enjoy social securities matching their full earnings as well as other benefits.

Construction of two other large-scale projects is scheduled for February this year.
Bulgarian Bigla III company is planning to erect a big logistic centre and has already bought 28ha of agricultural lands for this purpose. The purchased lands have already been re-zoned for construction. Belgian-based Immo company also has projected development for a logistic centre.

Israeli-based Zwielaufer Laor Delta Construction has other investment plans. It has acquired a 23 ha plot in Skutare, purposed for building a single-family complex for well-heeled clients.

Currently, local governors are working on the village’s sewerage network to accommodate locals` needs and develop industry requirements. Investment amounts to 5.6 million leva and the contractor is the Smolyan-based BGI company.
 
Plovdiv is a city with very narrow streets so it`s impossible to purchase a 20ha plot within its borders. Hence, investors are choosing suburban areas and nearby villages, explains Skutare’s mayor Gergi Timonov.

Source of the article propertywisebulgaria.com
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