The resort is currently undergoing a 600 million euro expansion as part of the ‘Super Borovets’ projects, which will be implemented in three stages. The first is well underway and involves building new high quality accommodation and facilities to double the capacity of the existing resort, including new spas, gyms and swimming pools. It will be competed in 2007.
The second stage envisages new hotels and ski runs in the triangle enclosing Beli Iskar, Samokov and Borovets. The third stage will involve the construction of a new luxury 5 star resort at 1,400 m above sea level. Extensive new lifts, ski runs and other infrastructure will be developed, linking the three areas together.
Prices in the area are increasing rapidly, well in excess of 20% per annum. Recent investors in the project include the UK’s Equest with 25m Euros earlier this year, Borosport with 25m Euros and undisclosed amounts from Oman investors.
The ground-breaking ceremony on 8th October 2007 was attended by Prime Minister Sergey Stanishev, former king and former Prime Minister Simeon Saxe-Coburg, as well as Oman's Sultan and Prime Minister Qaboos bin Said al-Said, who is one of the main investors in the project.
Rila-Samokov 2004 AD, the company that will implement the project and owns 2 mln sq m of land in the Borovets mountain area, plans to invest EUR 500 M over the next few years.
The mega-resort is projected to sport nineteen new ski tracks with a joint length of 42 kilometres and the accompanying infrastructure, lifts with capacity for 37,000 tourists, ski facilities, hotels on a built-up area of 100,000 sq m and around 400,000 sq m or no more than 4,000 units of vacation homes.