Albena AD will build a new vacation village by 2004, Krasimir Stanev, Executive Director of the resort, announced. The company has already purchased 110 dca of land between the see resort complex and the village of Kranevo. The new complex will have a capacity of between 200 and 500 beds. No high buildings will be constructed in the village. The investment program of Albena also provides the construction of a vacation village in the resort of Borovets by 2003, Stanev added. The venture will most probably be undertaken in co-operation with the tour operator company TUI.