«Florence» complex – quality real estate of the European level in Bulgaria

Construction of «Villa Florence» residential complex from «Mig Building Invest» Company on the popular Bulgarian Black Sea resort – Sveti Vlas – became a small revolution in the market of the Bulgarian real estate. High quality of construction and materials, centralized heating and air conditioning system, in-house SPA center, swimming pool, fitness center, restaurant, attentive personnel and many other bonuses make the complex unrivalled as for the level of comfort along the whole Bulgarian coast of the Black Sea. In addition, the prices for accommodation and service in «Villa Florence» RC are quite democratic.

Today the most of apartments in the complex are bought up, however as early as this year «Mig Building Invest» Company is starting to construct two complexes more – «Florence Suites» and «Florence Grand Palace», which will also become the benchmarks of comfort and luxury. The Chief Executive Officer of «Mig Building Invest» Company, Vesselin Manchikov, has told about advantages of «Villa Florence», «Florence Suites», and «Florence Grand Palace» complexes.

– Vesselin, please, tell about «Villa Florence» project. What is it notable for as against the other residential complexes in Bulgaria?

– The recent years the real estate in Bulgaria, especially on the coast of the Black Sea, has become very popular among the nationals of Russia, Kazakhstan, Ukraine, and Byelorussia. Besides, notwithstanding the popularity, the Bulgarian apartments have ambiguous reputation. The buyers are attracted with low prices, but draft quality of construction and problems with heating quite often cause blames. For example, almost all big complexes reduce the staff in the winter, as well as they cut off general illumination and lifts. And practically the problem with heating of houses always falls on the shoulders of an owner.

Therefore, initial concept of our complexes is a high quality of construction and comfort for our clients. And we have successfully realized all of our ideas in the first complex, which is already built – «Villa Florence», which numbers about 100 apartments.

Thus, infrastructure and all of the systems of «Villa Florence» complex are functioning the year around, and all of our clients have centralized heating and air conditioning. Our employees do not leave for winter holidays, and they control that all of dwellers feel comfortable and cozy.

The complex owners have at disposal the open-air swimming pool for adults and children, a room for fitness and SPA center, restaurant, children playground, indoor and open-air parking, high-speed Internet and satellite television in each flat, twenty-four-hour security, video monitoring and many other things. Please, do not forget that it is 5 minute walk from the complex to the purest beach and splendid Black Sea.


– Will we see continuation of your ideas in «Florence Suites» and «Florence Grand Palace» complexes? What a kind will the new projects be?

– Yes, the main idea of creation of maximal comfort for our dwellers will be further developed. Thus, we have already begun to construct new «Florence Suites» RC, which will become an organic continuation of «Villa Florence». This low-rise elite complex of the European category with a small number of flats is designed for dwellers, who appreciate comfort and quietness. The complex will be put in commission in the middle of the year 2017.

One more really ambitious project of our company is «Florence Grand Palace». This is a closed-type huge complex consisting of 400 flats, which will be a new step in the market of the Bulgarian real estate. It will include everything for enjoyable and comfortable year-round living. Absolutely all options just as in Villa Florence will be included, plus sheltered all-season swimming pool, in-house shopping alley, big SPA center, and wonderful, improved internal territory. In other words, people will have absolutely everything in «Florence Grand Palace» RC required for comfortable and interesting life. I can assure you that there is not any real estate of such high level as «Villa Florence» and all the more the planned «Florence Grand Palace» in Bulgaria.

– When will construction of «Florence Grand Palace» be finished?

– The construction will be commenced in 2016 and it will be accomplished in 2 stages. One stage will be completed in 2018 and another one – in 2019.

– Please, tell us, are your projects designed for rich clients only? Or people having moderate means also can buy apartments in Florence complexes, can they?

– Unfortunately, the recent years very many real estate facilities of poor quality are put in commission in Bulgaria, and they are sold at excessive prices. We have decided to base our work on other principles. Our pricing policy also may be called revolutionary – we are selling real estate facilities of lux category at good price. Our complexes have accommodation for any appetite and purse – from small and cozy studios to vast penthouses. Moreover, we guarantee high quality of construction and service. That is the approach, which produces high results. Even at this crisis time the flats in our complex are bought aggressively.

– Can you voice approximate prices?

– Sure. A square meter in «Villa Florence» complex, which is already built, costs 1300-3000 Euro. Cost of apartments varies from 44 thousand Euro to 500 thousand Euro. As you can see, people having moderate means can buy an apartment in our complex. I can tell even more. If a person buys an apartment in «Florence Grand Palace» or «Florence Suites» complex at the stage of construction, it will cost him/her much less. I also can note that our complexes are designed so that as many as possible flats could overlook the sea. And we are going to make such a splendid adjacent territory in «Florence Grand Palace» project that, I am sure, many people will desire to have a view of it through their windows.

– Many dwellers are interested of an amount of a maintenance fee. Usually, the more options are offered by a managing company the larger amount of payment for accommodation in a complex is.

– If you compare a number of privileges, which our dwellers enjoy, and a maintenance fee, then you’ll see that annual fee is quite low. Let’s calculate. The owners pay 12 Euro to the company for a square meter a year. For this payment they have twenty-four-hour security, swimming pools, fitness room and SPA center, cleaning, access to the Internet, cable television and an opportunity to call maintenance personnel at any moment and many other things. The dwellers pay for heating separately according to meter indications, but small sums are charged due to the fact that the up-to-date and cost effective heating system from Daikin Company is installed in each flat. It ensures quick flat heating providing minimal consumption.

I would like to pinpoint your attention one more time upon the fact that as against the most of residential complexes in Bulgaria, «Villa Florence» is operating and serves in full its dwellers the year around. Our future projects imply the same.

– Your company is actively offering to participate in investment projects. What are they?

– You can buy a flat at the stage of construction. After construction is completed the cost of immovable property will increase by 40-80%. Just a simple example. 30% of flats in «Florence Suites» complex under construction are already sold. They are bought by people, who already have apartments in «Villa Florence» complex. And the most interesting thing is that they do not buy accommodation units for themselves, but to lease them. Apartments in our complex are very popular and, when leasing them, one can earn 8-10% per annum on average from invested sum. It is much more than one could earn from a bank deposit. If a client does not want to be engaged in this business on his/her own, he/she can enter into a contract with us and we will lease a flat on his/her behalf and transfer earnings to him/her.

– What about a client’s wish to make a transaction on a no-name basis?

– No problem. If a client wishes to remain anonymous, we will guarantee this.

– Tell why did you choose Sveti Vlas resort as a construction site?

– I can tell you true, I had seen a lot of places along the Black Sea coast before finally choosing a construction site. And I liked just Sveti Vlas the most.

First, all necessary infrastructure is available here – shops, restaurants, banks, hospitals and the rest. A big twenty-four-hour supermarket is located 5 minutes walk from «Villa Florence». There is a kindergarten, where many Russian-language children study. Even the Russian school and hospital are available there.

Second, this position is a good. Solnechny Bereg (Sunny Beach) resort and the ancient city Nesebr are nearby. The big city Burgas is 30 minutes drive from here.

Third, this place is really healthful. Sveti Vlas is located between the sea coast and the mountain forest. A fresh breeze blows from the sea and oxygenated forest air descends from the mountains. People, who come here every year or better live here the year around, cure diseases and rehabilitate. Moreover, thanks to the mountain air, the very pleasant temperature is here in the summer and we rarely switch on an air conditioner.

Forth, very pure and lively sea and luxurious sandy beaches are here. There are not wracks and dangerous waves.

Fifth, Sveti Vlas is a clam and presentable resort of the European level, where well-off Bulgarians and foreigners like very much to spend time. Today the demand for accommodation on other resorts decreases due to crisis, but immovable property here is always in demand. In addition, a little vacant territory is left here near the sea and this means that prices for the real estate in Sveti Vlas will just increase.