TransGlobal Assets, a worldwide asset holding company, declared that it has signed a Letter of Intent with Safstroy Construction of Sofia in Bulgaria.
The LOI requires the company to function as General Contractor to complete the construction of the White Lagoon Resort, a beachfront development. The construction financing for the project will be provided by Sofstroy, the general contractor for the project.
The partly completed resort situated over the Black Sea coastline of Bulgaria and lying between Balchik and Kavarna towns, will serve around 8,000 long term and short term clients by offering a range of lodging facilities all over the property when all the phases of the resort gets completed. Some of the facilities that are fully completed or planned for completion at the resort include in-row houses, individual houses, hotel guest rooms, indoor and out door swimming pools, a reception hall, full fledged SPA, beach and water sport rental facilities, tennis courts, café bars, restaurants and supermarkets.
Till date nearly 120 units are nearing completion in the resort. The overall project is projected to earn around $400M from the sale of trade and residential units and other areas.
Source: http://www.transglobalassets.com/