News For Bulgarian Estates and Property Market

21
Jan. 2009 The reason for the sharp warming of the European climate is the cleaner air Scientists from the French Atomic Energy Commission argued that reducing emissions also lead to warming.
Harsh warming of European climate is caused by a reduction in the level of air pollution in recent decades, but the tempos of purification of air are shrinkage and the temperature growth in Europe will be delayed, forecast French scientists in an article published in the journal "Nature Geoscience".

Warming climate in most cases is associated with increasing volumes discharged hothouse gases.But the authors of the article, Robert Votar from the French Atomic Energy Commission and his colleagues have shown that reducing emissions emitted also lead to warming.

Scientists note that the fight to reduce the discharge of industrial pollutants, which started in 80-years of the twentieth century, has increased the transparency of the air. This alleviated the access of solar rays to the surface of the Earth and its more intense heat, which led to a rise in average annual temperatures. At present, the transparency of European air is not increased to much, and therefore temperatures will grow more slowly, scientists believe.

Votar and his colleagues have examined the data for transparency of air collected of 342 meteorological stations in Europe. Researchers found that for the past 30 years the transparency of air essence increased, reported Agency "Novosti". Scientists have discovered a correlation between this trend and reducing industrial pollution.

Data analysis has shown that increasing the transparency of the air in Europe has ensured 20% of the registered growth in average annual temperature. For Eastern Europe this cipher is even 50%. The authors of the research think that further increase of the transparency of the air in Europe should not be expected - its pace slowed down significantly since 2000, therefore increase the temperature of the European climate will continue with substantially more slower pace.

16
Jan. 2009 Bank of America will receive financial assistance of $ 20 billion Bank of America and the Ministry of Finance of the U.S. agreed the government to grant to financial hardship Bank 20 billion. This money will be to overcome the difficulties after the acquisition of Merryll Lynch.
The biggest American bank receive and governmental guarantees up to $118 billion against losses of risky assets.
$ 20 billion money will be granted by the government plan worth $ 700 billion to rescue the financial sector and will be conducted on the model used in aid for the banking giant Citigroup in November.
Bank of America received a total of $25 billion .The amount includes $10-billion allocated to Merryll Lynch, which Bank of America acquired in a transaction completed on 1 January.

03
Sep. 2008 Spanish developer to invest 500M euro in residential property near Sofia The Bulgarian residential property market still has a potential to grow, Nikolina Nikolova, CEO of the Bulgarian arm of Hercesa International, said during a news conference on September 1 2008 at the Hilton Hotel. Nikolova’s statement contradicted the tone set at the general discussion with real estate agency executives, that the market is near saturation.

Nikolova announced plans of the Spanish developer to invest 500 million euro in the building of a gated residential property along the road between Sofia and Pernik. The land plot is within close proximity to the Sofia boroughs of Gorna Banya, Ovcha Koupel and Zapaden Park.

The company intends to build a railway station within the estate compound, which will allow residents to commute easily to either Sofia or Pernik. As of now, there is an existing station where a train passes every half an hour, but the company wishes to shorten the interval to 15 minutes, Nikolova said. She also said that municipality building permission had already been obtained.

Nikolova said that the company had 33 years of experience on the international property market, and what differentiated it from the rest was the quality of its product.
“The most important feature for us is securing an adequate infrastructure, together with a sense of security for our clients,” she said.

Asked about the recent media buzz regarding the property market crisis in Spain and how Hercesa International would gain the trust of its future clients, Nikolova answered that the company was not a typical Spanish investor and developer. She added that, on the board of directors, there were representatives of five major Spanish banks, which, according to Nikolova, meant financial stability.

The project features more than 2000 apartments with a total living area of 240 000 sq m. Prices will vary between 800 and 1100 euro a sq m, Nikolova said, and added that the first building phase should be completed by the end of 2010. Completion of the entire project is expected by 2016.