A new holiday resort Kostina will be built in the mountain village of Ribaritsa, located near Teteven city, Stroitelstvo gradut weekly reported.

The resort will be situated on a land plot of 5000 sq m, and will feature 13 units of three different sizes for the total investment of 1.5 million euro.

Investor and developer of the project is Tenbul Ltd, whose owner Ivan Marinov has lived and worked in Spain for the past 10 years. Tenbul is the Bulgarian arm of the Spanish company Interbul, also owned by Marinov, which operates in Tenerife Island.

Designer of Kostina village is architect Elena Kavalska, who has designed the proposed houses to vary in dimension from 144 to 189 sq m. The design envisions modern-type developments that will preserve the features of rural style construction and landscaping. Each house will have an adjoining yard of 300 sq m, and future owners will be offered property management, 24-hour surveillance, maintenance and option for letting out.

The construction is planned to start at the end of 2008, and will be completed in two years.

Ribaritsa is a picturesque village situated in the foothills of Stara Planina Mountain, only 138 km northeast of Sofia and because of its climate characteristics, in 1963 was officially proclaimed to be a health-beneficial resort, attracting Bulgarian and foreign tourists.