Marina Bay Apartments in Kranevo Sea view

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  • Balchik /
  • Kranevo
  • From: 48 sq.m
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Marina Bay was inspired by Marbella, on the south coast of Spain, which continues to attract highly discerning clients. We have participated in the development of luxury residences on the Costa del Sol, and have gained considerable knowledge in the field. Location, design and attention to detail are fundamental to our corporate philosophy, of which we are justifiably proud. With these central tenets in mind, we are now focused on creating a new market trend in superior residences on the Black Sea coast. Ideally-positioned on a wooded hillside, Marina Bay affords residents glorious views across the bay of Varna and the picturesque village of Kranevo. The silver-gold beach is only a five-minute walk from the development, and the village shops, restaurants and holiday amenities are all easily accessible. With extreme consideration for the beauty of the area, we have situated Marina Bay within extensive, handsomely-landscaped gardens, complete with swimming pools and a play-area for children. A gated community with a 24-hour security service, Marina Bay exudes peace and exclusivity. Moreover, with its close proximity to Varna International Airport (28km), and a plethora of golf-courses, parklands and monuments, Marina Bay represents an inordinately exciting investment opportunity.

Baldrich & Tobal Architectural Studio has been carefully selected for its commitment to quality, elegance and attention to detail. With 25 years of experience on the Costa del Sol, Roberto Baldrich and Miguel Tobal have a design portfolio which extends to include the Kempinsky, Marriott Marbella and Las Dunas Hotels, La Zagaleta Club House, Los Arqueros Country Club, Aloha Park apartments, and villas in the prestigious Sierra Blanca.

General Plan A gated community with 24-hour security, 5 swimming pools and a playground for children, Marina Bay has been designed to provide high-quality, luxury living. The 453 apartments have been arranged in 30 strategically-placed buildings, each with a maximum of 5 levels. While our 28.000m2 plot offers the possibility of a larger urbanization, building volume has been sacrificed in order to preserve the beauty of the area, and to provide our clients with peace, privacy and extensive, landscaped, community gardens.

Phase 1 comprises 60 units of studios, one- and two-bedroom apartments, and exclusive penthouse duplexes. Located at the foot of Marina Bay, this phase is close to the parking facilities, and to Kranevo’s beach and amenities. Each apartment offers uninterrupted sea views that will not be affected by subsequent phases.

The maintenance and management of the communal areas will be controlled and organised by a professional company.

General Characteristics Buying a property is always challenging, and purchasing abroad can be particularly so. Accordingly, in the following section of our brochure, we have tried to anticipate your questions about buying in Bulgaria, with a particular focus on Marina Bay. Please find below, information regarding the quality of the construction; building guarantees; modifications possibilities; utility connections,; purchasing contracts; sales prices and delivery; and the overall and maintenance and management of the complex.

Construction plans and drawings of Marina Bay have been prepared in accordance with European and Bulgarian building standards, by two experienced teams of architects. Baldrich & Tobal Arquitectos in Spain, and PS Design in Bulgaria, have collaborated to ensure the best possible design, given local building and operational codes. The project consultants, Stroynadzor Varna (building control), have carefully supervised the building plans, ensuring the expertise of the project, and have issued a report on building standard conformity. As a result, the building license has been obtained in October 2007.

Floor plans shown in this brochure correspond to the originals, and are drawn to scale. The artist’s impression gives a close, but inexact, perspective of the complex. During the building process, some plans may be subject to small modifications that will not affect the statutory rights of the buyer. The developer reserves the right to change some of the materials as a result of product innovation. During the execution of the building, Stroynadzor Varna, license specialists, will methodically check, on-site, the conformity of the construction with Bulgarian building standards and regulations.

Quality of construction, and respect of the drawings, will be controlled by a professional internal team, even when the construction is contracted to a company of the Developer’s choice.

Pipes, cables and conduits are concealed in the walls and under the floors. The complex is fully connected to national water and electricity networks. Surface water drains and sewers are connected to the public sewers.

Personalisation of the apartments will be possible following approval from the architect and project team. It is also possible to buy adjoining apartments and merge them in one.

Sales Contract Bulgarian regulations (subject to change before 2013) allow foreigners to buy buildings in Bulgaria, but do not allow them to purchase land. Accordingly, to enable clients to buy property in Marina Bay, the ownership of the land will be transferred to a newly-registered Bulgarian company, which will allow owners to become shareholders in proportion to the size of the property purchased. Purchases will be formalized through two separate contracts: one for the property, and one for the shares. The price of the shares is purely symbolic, and is included in the purchase price of the apartment. The contracts are written in Bulgarian, with respective translation into English, Spanish and Russian. Our experienced lawyers are prepared at all times to explain the details of purchases, at no extra cost to the client.

Total areas of the property. The area of your Marina Bay apartment is calculated in accordance with Bulgarian legislation and practice. Built Area includes the external walls and half of the party walls. Terraces and balcony, if any, are added to this area, plus proportion of the communal area of the building. All these surfaces are certified by the architect and attached to the sales contract.

Sales price. The price of each apartment is defined individually, and is set according to the total area, floor level, views and location within the complex. The price includes the total area described above, shares of the land-owning company and VAT. The developer is responsible for construction, documentation and permission costs, and the completion of communal areas and amenities. Local tax, stamp duty and notary fees, amounting to approximately 3% of the sale price, are payable by the purchaser. A service charge covering cleaning, maintenance and administration fees, is payable annually.

Payment scheme details are available from your local agent, and the Marina Bay sales representatives.

Reservations can be arranged by your local agent, who will liaise with our office in Varna. Reservations can be made by telephone, fax or electronic mail, but can only be confirmed upon receipt of the reservation deposit. The property will then be removed from the market. Subsequent payments will follow the agreed payment scheme. Building schedule will be established by the Developer, who will define the anticipated procedure for delivery.

Delivery of the property will take place when the ‘Permission of Use’ certificate has been delivered by the authorities. A minimum of 14 days after notification, the purchaser, or the purchaser’s legal representative, will be invited to inspect the property, sign an act of delivery, produce a snag list and receive the keys. The guarantees start with the date on the ‘Permission of Use’ certificate. The construction guarantee covers a period of 10 years, while the installations’ guarantees cover a period of 5 years. Any imperfections appearing during these periods will be repaired by the Developer, at no cost to the client. The Developer, however, is not responsible for damage caused by incorrect use.

Maintenance. An external company will be contracted to clean and maintain the communal areas and the pool. This company will be selected as a result of its ability to offer a wider range of services to the residents of Marina Bay, including the cleaning of individual apartments.

TECHNICAL SPECIFICATION Foundations of high-quality reinforced concrete, protected with high quality waterproof insulation.

Superstructure incorporating earthquake protection system.

Roof protected with high-quality waterproof insulation and covered with red ceramic tiles. Rainwater disposal system includes metallic gutters. Drainage and sewage systems underground. Connected to the municipal network

Water and electricity systems in accordance with Bulgarian regulations. Pipes, cable and conduits are hidden. Switches, wall plugs and light-fixtures installed. 220 v European standard sockets with earth connection. TV, telephone and internet cables pre-installed. Video entry phone. Connection to the national water and electricity utility networks.

Walls constructed in red ceramic bricks. Thermo-insulated outside walls. Inside walls and ceilings finished with rough and smooth plaster. White latex painted ceilings. Uniform neutral colour to inside walls. Façades, according to Bulgarian regulations incorporate thermal insulation, covered with mineral render.

PVC windows with double glazing.

Front door with security lock system.

Internal doors MDF laminated, fitted with complimentary ironmongery.

Cream marble floor in entrance, corridor, kitchen, living room and bedrooms.

Bathroom walls and floors finished with attractive ceramic tiles. Shower unit, toilet, washbasin, monobloc tab and shower equipment in every bathroom. Suspended ceiling with lighting system.

Fitted kitchen includes low and high level wall cupboard units in laminated MDF. Quality worktop and sink with tab. Hob, cooker extractor hood and fridge from quality brands.

Terrace floors of concrete structure, finished with atractive ceramic tiles. Railings in cast iron

Hot/cold air conditioning system installed in the living room.

Communal stairs and entrance halls of concrete structure, finished with atractive ceramic tiles. Elevators in every block. Stair rails in metal or glass. Central lighting operable on every floor.

Five swimming pools with separate zone for children.

Security gates guarded 24-hours.

Landscaped communal gardens and green areas with benches and soft lighting.

Completion of works

Area Floor Walls Ceiling Other
Entrance Cream marble Plaster painted with neutral coloured plastic paint White plastic paint Video entry phone
Living Room Cream marble Plaster painted with neutral coloured plastic paint White plastic paint Optional fireplace
Kitchen Cream marble Kitchen cupboards and equipment White plastic paint Fridge, hob, cooker extractor hood, sink, tap
Bedroom Cream marble Plaster painted with neutral coloured plastic paint White plastic paint  
Bathroom Cream marble Ceramic tiles White plastic paint Ceramic shower tray, toilet and washbasin, monobloc tap
Terrace & Balcony Terracotta tiles Cement-based render   Iron grills

Decoration. The Marina Bay team can recommend interior designers who will help you to create a stylish and comfortable home. In certain apartments, clients will have the opportunity to incorporate a living-room fireplace and under-floor heating.


Selling prices of real estates in Bulgaria are in Euro. For your convenience, on our website you can check what the equivalent of the selling price is for the present day in both currencies – USD and GPB. This equivalent is calculated automatically and is bounded with the currency exchange rate for the specific day, therefore it may vary.


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