Hotel Lalov Egrek

"Lalov Egrek" Ltd. company was registered as limited liability company with capital of 250,000 leva (250 shares) by a Bulgarian court order on the 25.02.2003 and was included in the 'Trade corporations register' No 178 volume 8 page 208 f.c. 570/2003. Another court order on the 28.08.2003 registered changes in share allocation due to the inclusion of new shareholders in a capital increase to 840,000 Bulgarian leva (840 shares) through addition of land to the capital of "Lalov Egrek" Ltd. worth 590,000 leva. Lalov Egrek" Ltd. specializes in organizing construction and manufacture of concrete building materials. Manufacturing takes place in town of Kameno where a factory has been set up to produce concrete fence plates and other lightweight objects. Organization of construction was started in 2003 after addition of land to the company's capital. Around 18 months have been spent changing the status of land from agricultural plot to land suitable for construction of property. The project development commenced in Spring 2005 and was complete in March 2006. In April 2006 permission to begin construction was granted by the local authorities. The advertising campaign for the new "Lalov Egrek" complex started in October 2005 in Russia and by the 25th of April 2006 preliminary contracts for sale of one Family House (of 3) and 8 apartments (types A and B, out of 64 planned for construction).