Property Developer Eurosilex to Build New Villa Community Near Varna

International property developer Eurosilex has announced plans for a new luxury vacation complex on the Bulgarian Black Sea coast. The cost of the 35 million euros development, located in the village of General Kantardjievo between sea resorts Golden Sands and Albena, will be covered by company resources and the proceeds from off-plan sales.

According to the website of the company, Crystal Spa Aparthotel will comprise 354 apartments and penthouses divided into 17 separate cozy Mediterranean-style buildings. The spa component of the residence will be the largest and most modern of its type on the Bulgarian coastline.

The construction of Crystal Spa Aparthotel will get underway in September 2007 and should be completed by 2009. The investor plans to build an onsite wastewater treatment plant. Crystal Spa Aparthotel is part of Eurosilex' Golden Valley resort which should be completed by September 2008.

The 8-acre resort, featuring 22 villas and 81 luxury apartments, will adjoin a 2.5-acre golf school with a training range and a golf accessory shop.