News: Formula One zooms into Bulgarian

Thu, 03 May 07

Plans are in place to build a racetrack fit for use for a Formula One grand prix near the Bulgarian coastal town of Kavarna, according to reports...

Such a development could prove to be a significant draw for people considering investing in Bulgarian property and could also push up values for people who have already purchased homes in the area.

British company Berkeley Square Trading is reportedly behind the project, with an investment of 15 million (£10.1 million).

It is hoped that the creation of the track will lead to a boost in tourism, which could further add to the popularity of Bulgarian property, as well as offering employment opportunities.

According to the Sofia Echo, Berkeley Square has said that it is willing to train potential employees and offer them qualifications.

It is believed that the plans have been presented to Tsonko Tsonev, mayor of Kavarna, who will propose them to the municipal council for approval on September 26th.

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