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What is the fate of Todor Zhivkov's former residence in Bankya?

During the week, it became clear that the "Bankya" residence is one of 4,400 properties with "no longer necessary" announced for sale by the state

Aug 30, 2025 19:54 342

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Over 380 acres with a swimming pool, a cinema hall and a hotel part lie in ruin. They are located in the former residence of Todor Zhivkov in Bankya.

During the week, it became clear that it is on the list of state properties with "no longer necessary". Will the building from the time of socialism disappear forever - a report by Stancho Stanchev.

The year is 1972, when the balneo-sanatorium in Bankya was built by order of the then security service UBO. Soon after, Todor Zhivkov liked it for a residence. The architect's son shows us the apartment of the former prime minister.

„It was designed in advance as more luxurious. Here, right next to the entrance, there is a room, and a large room for the security guards, said arch. Iliyan Nikolov, son of the architect of the "Bankya" residence.

Soon after the plenum on November 10, Todor Zhivkov left the residence. The owner became the Japanese billionaire Masako Oya, who turned the place into a golf club and lived there until her death in 1999. In 2009, the residence fell under the care of the NSO, who used it for less than a year. To date, the owner is the state in the person of the Sofia regional administration.

During the week it became clear that the "Bankya" residence is one of 4,400 properties with "no longer needed", announced for sale by the state.

Concerns about the fate of the former residence were expressed by architectural organizations and citizens.

"The probability that after such a sale the remarkable building complex will be demolished and only the land will be used is very high".

We sought an answer to these concerns from the Sofia Regional Administration, which manages the area.

„The residence is not for sale in order to dispel these speculations. It is public state property and as such the state cannot dispose of such a valuable asset“, Stefan Arsov, Sofia regional governor.

Despite a proposal in 2021, the property has not been recognized as immovable cultural heritage. From "Save Sofia" wanted the property to be transferred to the Sofia Municipality to operate, but without success. A team of young architects is offering a renovation option.

“We had calculated that it would be around 20 million euros. I don't believe such a business plan would succeed as a balneo-sanatorium alone“, said architect Mihail Rainovski.

According to architect Vladimir Rainovski, even if the Sofia Municipality takes the property, the investment of 20 million euros for renovation will be difficult to recover.