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Foster's Bulgarian scheme frozen

Norman Foster’s resort project in Bulgaria has been frozen by the developer while it attempts to secure extra funding

UK investment firm Madara Bulgarian Property Fund Limited is seeking investors for the Bulgarian Black Sea Gardens, valued at approximately £865 million.

Situated close to the Bulgarian city of Byala, it will comprise of villas a hotel, luxury apartments and commercial and entertainment facilities.

According to media reports, the project is on hold until Madara Bulgarian Property finds joint venture partners to help finance the development.

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