A Manx-based company is to build a holiday complex near the Bulgarian resort Albena.
Bulgarian Land Development, which joined the AIM market of the London Stock Exchange in March, said it will start construction soon.
The site is located a few miles from the city of Varna and just a kilometre away from the international E 78 Highway which runs from Istanbul to Constanza.
The complex will include twenty two detached houses and ninety seven apartments and should be completed by the end of next year.
The development is expected to return eight point two million pounds, while sales will begin in July.
The Bulgarian Land Development fund, which is based in Athol Street, was established by the managers of Bulgarian realtor Address Group.
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