Kiora Residence and Acquire Abroad

Discussion in 'Bulgaria Property' started by Cloud, Feb 23, 2007.

  1. Cloud

    Cloud New Member

    Hi There, has anyone out there bought in the Kiora Residence in Bansko, Bulgaria? Have you gone through or ever used Acquire Abroad Ltd in the past? The developers of this development are STC Building Group Ltd. Anyone had any dealings with any of the above mentiond? Any comments/advice, good or bad, most welcome. Thank you.
     
  2. Investy

    Investy Senior Member

    Cloud it would really help if you named the country you are talking about here, for all we know it could be the moon. That way at least someone might have knowledge of the country even though they dont know this individual development.

    Cheers
     
  3. Patrizia

    Patrizia New Member

    Panorama Casino and Spa is their previous project in Bansko, which is quite successfull, so I guess the developers are well established. I met Acquire Abroad on the exhibition this weekend in ExCell London, professional people.
     
  4. Cloud

    Cloud New Member

    Kiora Residence in Bansko, Bulgaria

    Thanks for the reply the development is in Bansko Bulgaria.
     
  5. Cloud

    Cloud New Member

    Kiora Residence in Bansko, Bulgaria


    Thanks Patrizia, Glad you know what I mean!! Thanks for this info, I am going out to Bansko next weekend to meet up with the developers and have a look around the Kiora Development site, will know more about it then. So far I have found Acquire Abroad to be very professional but always good to get other people's thoughts.
     
  6. gabby

    gabby New Member

    Kiora

    You need to go to website 'Talk Bansko' and look under Panorama
     
  7. Cloud

    Cloud New Member

    Kiora Residence, Bansko, Bulgaria

    Hi there

    I have been off here for quite a while (slight understatement!) But I am now nearing the end of buying an apartment in the Kiora Residence in Bansko, Bulgaria.

    This is being build by STC Build Ltd and is months behind schedule. I wondered if there is anyone else out there buying in this development that would like to talk, or if there is anyone who has bought something built by these developers and can share their experiences? (although after some of the things I have read on forums tonight I am not sure if I want to hear!)

    Hope to hear from someone soon. :)
     
  8. kevin1961

    kevin1961 New Member

    Kiora Bansko

    Hi i have x2 Appts in Kiora Bansko, i to am very concerned about there progress,
    have you any more info?

    Regards

    Kevin
     
  9. Cloud

    Cloud New Member

    Kiora Residence in Bansko, Bulgaria

    Hi Kevin

    Glad to hear from you. Not hear anything really. I have been e-mailing my solicitor since November and not heard anything back, I e-maild the agents last night and they have come back to me and copied the solicitor into the e-mail telling him to answer my questions! So hopefully I will know more soon.

    I take it you have paid your second installment? What completion date have they told you? They told me February but looking at the photos on STC's website that seems very optimistic to me.

    Anyway, will keep you updated if I hear anything would be really glad if you could do the same?

    Regards

    Cloud
     
  10. kevin1961

    kevin1961 New Member

    I have Appts in the Kiora complex, of which i have paid 50% back in july 2007,

    I also have an Appt in Panorama also built by STC which was due for completion in Oct 2008 & guess what thats not finished either.

    I have been told by a reliable source that STC have run out of monies.

    Due to the economic climate Clients are not paying on time if at all so this starves the Developers Cashflow. Vicious cycle.



    I go away Skiing tomorrow in Zermatt until Feb 10th, if i have any news from my Lawyer i will updated upon my return.

    Kind Regards

    Kevin
     
  11. Cloud

    Cloud New Member

    Thanks Kevin

    I will let you know if I hear anything too, nothing yet!
     
  12. Cloud

    Cloud New Member

  13. kevin1961

    kevin1961 New Member

    Hi Cloud, sorry i have not been in touch i have been busy, just to let you know i have negotiated with STC to move my X4 Appts in Kiora of which i had paid 50% to X2 Appts in Panorama, fully paid for. I am over in Bansko staing in one of them now.

    Regards

    Kevin
     
  14. mobile

    mobile New Member

    Re Kiora Residence Bansko

    Hi
    I bought an apartment in Kiora in 2007 and am still waiting for completion !!!!!!!!
    Anyone out there have success in dealing with STC Build
    Any help would be appreciated
    Thanks
    Mobile
     
  15. kevin1961

    kevin1961 New Member

    Kiora

    Hi Mobile,

    I am sorry to be the bearer of bad news but Kiora will not be completed by STC.

    They have had it on the market for sometime to no availe. STC do not have the monies or intentions to finish the project.

    I originally in 2008 had X1 Appt in Panorama for myself & family & X4 Appts in Kiora for investment/rentals of which i had paid 50% upfront, i saw what was happening & after several trips to Bulgaria & meetings with STC & my Lawyer, i eventually got STC in late 2009 to transfer all my monies from the X4 Appts in Kiora into X2 more Appts in Panorama which was nearly complete.

    There are now a few owners that have moved from Kiora to Panorama to secure their investments, but there are not many Appts left in Panorama

    I suggest you talk to Tsvetana Boteva or Smilen Boteva at STC on 0035932624647 to try & sort out a move if you wish too.

    If you dont mind me asking, How much have you paid & when? & who was your Lawyer & Agent?

    Prices have fallen dramatically in Bulgaria by upto 50% & therefore it may be worthwhile cutting your loss's & not putting any more monies in.

    Best of luck

    Kind Regards


    Kevin
     
  16. mobile

    mobile New Member

    Re Kiora

    Good evening Kevin
    Thanks for your reply but i was,nt expecting positive news. I made a trip to Bansko in Oct 2008 and i was,nt convinced with what i saw and heard that the building would be finished . I have a Lawyer in Sofia but i think he is being fooled as well .
    I paid 33% as a first payment and was under pressure to send second payment in February 2009 but when i saw that they wanted part of this money sent to a bank in Lithuania i stalled on sending it.
    I am aware of more people who are in the same position as me.
    Where is the the Panorama building located in relation to the Kiora .
    I may try and get the monies transferred there
    Thanks again
    Mobile
     
  17. kevin1961

    kevin1961 New Member

    Kiora & Panorama Casino & Spa

    Hi,

    if i were in your position having only paid 33%, i certainly would not look at moving to Panorama, as Beautiful as it is.

    You have alot of buying power if you are looking to purchase now, you would be better off going over & bargain hunting to buy one, be ruthless in your offers.

    There are so many for sale at half of last years market value & a lot of desperate owners wanting to sell, whereas STC still want big money for the Appts in Panorama, as STC & the owners have just signed a 6yr (48 weeks) of the year rental deal with a Russian company.

    This gives us 6yrs of maintainance free rental, albeit we are not getting large amounts of income from this it cuts out the headaches, & by which time hopefully the property/money markets will have sorted themselves out & we may see a premium on our investments.

    Link to Panorama :- ???????? ??????, ??????

    Regards
    Kevin
     
  18. mobile

    mobile New Member

    Re Kiora

    Kevin
    Thanks for the info. I am now going to think about what i will do next.
    Dont think my lawyer will be much help but dont want to put his name in print.
    Mobile
     
  19. mobile

    mobile New Member

    Re Kiora

    Just been reading further messages from other investors in Kiora and the situation does not look good .
    It would appear that i have left it too long to make contact with other investors but i did not know this site was available
    I understand people are reluctant to give names or details on an open site like this, ,but is their anyone recently who has had success in dealing with STC.
    I also understand the danger of people self promoting themselves in replies but i will have to make a judgement on that .
    Has an investors association been set up for Kiora ?
    From the contributions to this site i am judging that most contributors are from Western Europe
    Thanks again
    Mobile
     
  20. mobile

    mobile New Member

    re Residence Kiora

    A number of us ,investors in Kiora, are about to attempt set up an Investors Group to finish the building . There may be an opportunity to rescue investments in this development
    Anyone interested can reply to this
    Thanks
    Mobile
     
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