The Bulgarian government has approved a series of measures to help launch the St. Sofia project, a huge high-tech entertainment complex with casinos, shopping malls, a luxury hotel with thousands of rooms, office spaces and green areas.
Bulgaria’s massive touristic project is being funded by some Chinese investors.
The “smart city” as its investors described it or “Las Vegas of the Balkans” will be implemented by a Chinese company, Bulgarian Development Holdings Limited, who joined forces with the Chinese telecom giant ZTE.
The 1.5 billion euros complex is set to become a reality in 2020 near the Elin Pelin town.
According to the Bulgarian press, it will include various high-tech entertainment facilities, a luxury 2.000 room hotel, casinos, the world’s largest closed water park, conference and exhibition halls, a shopping mall, office buildings, green spaces and more.
At this moment, St. Sofia is being considered by the Bulgarian government their top investment project.
Announced three years ago, the development of the project became possible after the coalition government adopted on 2nd August a package of aid measures.
Because it has a good geostrategic position, an environment-friendly tax to business and low labor costs, Chinese investors, driven by a new trade expansion policy of Beijing, saw a huge business opportunity in Bulgaria.