[Jain and Chris]

Prime property BG is starting the construction of a new holiday village - Coral Residence Resort - which is located just north of Lozenets village and will cover an area of around 40,000 sq.m.

Coral Residence Resort will have views over the beautiful bay with beaches.

Investment involved is some 40 m euros and is in conjunction with Austrian company Immoeast building up a new vacation village called 'Coral Residence Resort'. The project will be constructed in keeping with the surroundings and include elements of traditional Bulgarian architecture, to include a small hotel, high standard and quality houses and some apartments (none more than four storeys high).

The company says that the complex will be finished in 2010.