Omani & British Firms to Develop $1.1b Resort in Bulgaria
09 Feb 2010 - Oman's government investment arm, State General Reserve Fund (SGRF), has joined hands with a unit of Britain's Equest Investment Balkans to set up a $1.1 billion ski resort in Bulgaria, Reuters reported. Under the deal, Oman's SGRF will hold 40 percent stake of the project and the other major investor will be Equest Investment, which invests in real estate projects in the Balkan region. The resort is slated to be completed in 2012, it is set to be just one hour from Sofia airport in Bulgaria, an Omani government official said. It is worth mentioning that earlier in 2009, State General Reserve Fund (SGRF), which is run by Oman's Ministry of Finance, bought a controlling stake in Equest.
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