The Municipal Council of Stara Zagora approved the exchange of municipal properties for lands in “Bedekka” Park, owned by “Esteti Homes” EOOD, a company owned by Evgeni Lishev. The “Save Bedekka” Association estimates that the deal will deprive the municipality of over half a million BGN.
The proposal was submitted by Mayor Zhivko Todorov and was rejected by the councilors during the April session. However, when it was reintroduced to the agenda in May without any new circumstances, it was supported by the majority.
This is not an isolated precedent in the work of the local council, but rather a corrupt practice whereby the mayor urges councilors to reconsider their positions, and then Chairwoman Ivetа Lazarova submits the proposal for a new vote—sometimes even a third time—until it is ultimately approved.
Four of the properties to be acquired by the company were not listed in the register of municipal-owned land, which suggests that someone tipped off Evgeni Lishev about their existence. Additionally, one of the municipality’s properties was officially recorded just two days before its valuation was conducted.
An analysis of publicly available data on Evgeni Lishev reveals an extensive corporate network of 20 active companies where the businessman holds roles as partner, sole owner, or manager. He is the sole owner of several subsidiaries within the “Esteti” group, including “Esteti” EOOD, “Esteti Assets” EOOD, “Esteti Park” EOOD, “Esteti Homes” EOOD, among others. Besides companies under his full control, Lishev participates in several partner structures, indicating a willingness to cooperate and share expertise with other business players.
“Residence Park Kazanlak” OOD and “Trimeks Capital” OOD are new ventures aimed at expansion into the capital sector or investment activities, demonstrating a strategy for geographical growth beyond the main base in Stara Zagora and diversification of business risks through collaboration with other investors.
All companies owned by Evgeni Lishev generate total annual revenues comparable to or exceeding 10 million BGN, with the main share coming from “Esteti” EOOD, which alone reported 7 million BGN in 2022, with a trend toward higher figures in 2023.
In December of last year, the businessman acquired properties in “Bedekka” Park through a deal with “Central Park Zagora” AD, just months after the Municipality of Stara Zagora announced that in 2025 it will start procedures to compensate the property owners in the park. Preliminary estimates suggest this will cost the municipal budget several tens of millions of leva.
Evgeni Lishev was well aware that he was purchasing just over 13 decares of land in the park, but as a serious investor, he would not risk “throwing money to the wind” without being confident that he would later profit from selling these properties. And, in practice, that is exactly what has happened.
The company ЮКОН, selected by the Stara Zagora Municipality, conducted the market valuation of the properties owned by “Esteti Homes” EOOD in “Bedekka” Park, as well as the municipal properties that the businessman chose for exchange. According to the Land Use and Development Act (LUDA), the valuation must be based on a previous zoning plan where these properties were designated for development, although no deadline is specified for when this procedure should be completed.
The owner of the valuation company, 88-year-old construction engineer Yuliy Kayryakov, kindly explained to “Za Istinata” (“For the truth”) that the compensation rates for the properties of both the company and the municipality were personally determined by him. According to his assessment, the independent appraiser assigned a 25% compensation rate for the two parcels owned by Evgeni Lishev, while the properties of the Stara Zagora Municipality were evaluated at 21%.
This discrepancy clearly disadvantages the public interest. However, the appraiser explained that his decisions were primarily influenced by public sentiment regarding the “Bedekka” neighborhood.
He stated that no one could prevent property owners from building, and they were indeed constructing. When asked about the fact that building in a park is generally not allowed, he replied: “Why not? They will build anyway, they will go to court… law, law. But you see, construction is happening there.” He also clarified that the municipality had not opposed his determined percentage; otherwise, it could have commissioned a new valuation from another licensed appraiser, with whom it has a contract.
