The first stage of the 300 mln euro Perelik tourist center development, in the Rhodope mountains, South-western Bulgaria, will be flagged off this autumn, said the project investor, local company Sports and Tourism Center Perelik. Under the large scale project, the investor will deploy facilities for winter and summer tourism and will upgrade the infrastructure in the city of Smolian and the villages of Stokite, Gela, Solishta, Stikal and Mugla. The project is advised by Alfa Finance Holding.

The resort concept has been designed with nature conservation in mind as well as attention to the compatibility of architectural styles, said Kiril Asenov, one of the project investors. The resort development will feature ski runs with a combined length of around 200 km and 100 km in ski lifts. In May 2006, the InvestBulgaria Agency issued a First Class Investor certificate to Sports and Tourism Center Perelik which entitles the project to infrastructure funding from the central and local governments. The Smolian municipality, a partner in the project, will made a non-cash contribution to the joint venture company. The necessary building permits will be issued shortly, said city mayor Dora Yankova.