Yoo Launches 350-Unit Condo Project on Bulgaria’s Black Sea Coast

By Erika Schnitzer, Associate EditorObzor, BULGARIA–The second phase of yooBulgaria, a 350-unit luxury condominium located along the beach on the Black Sea Coast in Obzor, Bulgaria, will launch this month. The first phase of the development, which consists of 257 units, is now 85 percent sold and will be complete before the end of the year.The project team for yooBulgaria is comprised of London-based yoo, Unique Developments, a London-based property investment specialist, and Canadian-based Diamone + Schmitt Architects.The property offers studios, one-, two- and three-bedroom units. Phase two will include two-story penthouses. Units will range in price from $277,943 to $653,244.“We foresee an equal balance between purchaser using their apartments as a second home as well as for renting out,” says John Hitchcox, co-founder of yoo. “Since Bulgaria joined the EU in 2007, it has become a popular holiday destination for western Europeans.”Most units include sliding patio doors and private terraces. “A yoo furniture package is also offered to purchasers that includes everything from your living room furniture to your cutlery,” says Hitchcox.Amenities include an on-site restaurant and bar, fitness center, four pools, spa, tennis courts, child-friendly pools and play areas, and landscaped gardens.“The concept for the development from the outset has to been to create a white modernist structure with as much linear frontage as possible to gain the best views and aspect,” explains Hitchcox. “The apartments use hard surfaces to tie in with the notion that you can leave the beach and go directly to your apartment, to tie in with the idea that the development is based around wellbeing and renewal.”Construction for the second phase of the development is expected to begin at the end of this year and be complete by the third quarter of 2010.