Kalak Bayson Properties FZCO, led by managing partner Furkan Bayoglu, has announced plans to develop a large-scale mixed-use project in Burgas, Bulgaria, commissioning celebrated American architect Kobi Karp to design the development.
The project, spanning approximately 170 decares (roughly 17 hectares / 42 acres) of land, will take shape as a "Heritage Village" — a destination combining retail, hospitality, and leisure facilities designed to serve both the local Burgas community and the growing wave of international visitors to Bulgaria's Black Sea coast.
The development carries an estimated investment value of €190 million and counts the Al Hamadi family of the United Arab Emirates — already a majority shareholder in Sevent Group — as a major partner in the venture. The project has drawn early interest from both Gulf capital and Turkish investors watching the growing investment corridor between Turkey, the Gulf, and Southeast Europe.
Burgas, a major port city on Bulgaria's Black Sea coast, has seen rising interest from international real estate investors in recent years, driven by tourism growth, EU connectivity, and comparatively accessible land and construction costs versus Western Europe.
Who is Kobi Karp?
Kobi Karp is a Miami-based architect and the founder of Kobi Karp Architecture & Interior Design, a firm recognized internationally for luxury residential, hospitality, and mixed-use developments. Over a career spanning several decades, Karp's studio has built a reputation for large-scale resort, hotel, and branded residential projects across South Florida and internationally, blending contemporary design with destination-scale masterplanning. He is serving as the architect for the Burgas project, bringing that resort and hospitality design expertise to the Black Sea coast.
Who is Furkan Bayoglu?
Furkan Bayoglu is the managing partner of Kalak Bayson Properties FZCO and the founder of Sevent Group, a diversified holding with interests spanning commercial real estate, media, and technology ventures in Turkey and internationally. He is also the founder of TrendOfis, Turkey's office real estate ecosystem platform, and TNL Commercial Real Estate. Bayoglu has led a series of cross-border investment partnerships connecting Turkish entrepreneurship with Gulf capital, including Sevent Group's partnership with the Al Hamadi family of the UAE.