SOFIA WEEKLY

Bulgaria set up a special body that is to work for equalizing the real
estate market standards of the country to those of the other EU member
states, an independent branch organization announced Friday.

The new committee is to regulate the activities of the real estate
agencies and will help to diminish grey economy in the sphere, chair of
the National Real Property Association Lachezar Iskrov said.

Head of the regulatory body was elected Asen Makedonov, who is manager
of one of the biggest real estate companies in the country.

According to experts, Bulgaria leads the Balkans on the real estate
market by offering some of the best property investments in Europe.
High quality residential complexes are available at low prices, in
areas that are very attractive to foreign tourists.

However, every year the authorities are signaled over more than 20
frauds related to sales and purchases of real estate properties.

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BULGARIA, ROMANIA, SLOVENIA RECOMMENDED FOR SKI HOLIDAYS
The eastern European destinations of Bulgaria, Slovenia and Romania
have been recommended to British tourists looking for a bargain ski
holiday.

Bulgaria"s Borovets resort is the cheapest ski holiday destination,
with prices for equipment and accommodation half of what travellers
would find in Vail, Colorado, according to Post Office Travel Services.

Poiana Brasov in Romania and Kranjska Gora in Slovenia were also found
to be "significantly cheaper" than well-known resorts in Switzerland,
France and Austria.

Helen Warburton, head of travel services at Post Office, warned,
however, that price is not the only thing people think about when
planning a ski holiday.

"It"s important for ski holidaymakers to pick a resort that suits their
expertise and matches their expectations," she said.

"For those people and for bargain hunters, Bulgaria and Romania
represent excellent value."

However, those wanting to travel further afield can always try Canada,
where resorts such as Whistler regularly entice all types of winter
sports lovers.

The news comes after the Association of British Travel Agents reported
that France had overtaken Austria as the most popular skiing
destination in Europe.

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MANAGERS BUY OUT BULGARIAN REAL ESTATE FIRM
Bulgarian real estate firm Landmark said on Monday it was sold to
Bridgecorp, the company owned by Landmark"s two managers, Richard
McDonald and Tanya Kosseva-Boshova, for EUR 210 M.

Henry Gwyn-Jones, Co-founder and managing director of Landmark,
together with the other shareholders in the company, Icelandic mogul
Thor Bjorgolfsson and Altima Partners, sold the firm in an auction
organised by Credit Suisse Securities, London.

The deal is the first of its kind in Bulgaria, where a real estate firm
is bought out by its managers.

Founded in 2004, Landmark"s portfolio includes 22 properties in
Bulgaria and one in Istanbul, Turkey. The firm owns several office
buildings in Sofia and Varna, as well as the land on which a gold
course will be built.

In February, the company announced plans to invest EUR 80 M in projects
this year and bought the Porsche Centre in Sofia for EUR 13 M a month
later.



BULGARIAN HOUSEHOLDS ASSETS GREATER THAN LIABILITIES - UNICREDIT
Bulgarian households remain net savers, with their assets still greater
than liabilities, despite the strong growth of lending in the country,
Italian banking group Unicredit said in a report on household wealth in
eastern Europe, made available on Sunday.

Household financial assets increased by a real 20% on an annual basis
in June 2007 and the banking group expects the wealth accumulation in
the sector to maintain its momentum for a fourth straight year.

The main reasons for the strong growth, outlined by the bank, are the
convergence of incomes, an improving level of job creation, rising real
estate prices and remittances by Bulgarians living abroad.

Even though liabilities grew at a faster rate on the back of the credit
boom in the country, a large part of the retail loans were channelled
in the acquisition of new residential property or renovation of
existing housing, which in combination with a massive rise in the real
estate prices, further boosted the growth of real assets in the
household sector.

The introduction of a 10% flat Introduction of a 10 % flat personal
income tax and a cutback in the social insurance contribution rate will
positively affect both households" disposable incomes and their
propensity to save, with household financial assets set to reach 60% of
GDP in 2009, compared to 51% in 2007, the report claimed.

Currency and deposits remain the preferred form of savings, accounting
for 79% of their total, the highest rate recorded in the 14 countries
covered by the report.

Securities and shares accounted for 8% and pension funds assets another
7%, with the rest spread between mutual funds and insurance technical
reserves.

In terms of loans, consumer credits accounted for 43% and mortgage
loans for another 37%.