The “green” office buildings in Sofia are quite competitive according to the real estate agents and property managers. According to them the successful management of the business buildings in Sofia depend on many factors. They include not only the effective management policies, but also the usage of innovations. The office building A2, which is part of Sofia Airport Center is an example of such successful practices. That is why it was won the prize “Office building for 2012” in the categories “Green Building” and “Public buildings with business functions”. The office building of Sofia Airport Center corresponds to all the requirements applied in the construction of “green buildings”. The process starts right from the planning and requires the building to be constructed in such way as to protect the environment. The systems used in the green buildings are innovative and ensure a healthy environment for all the employees, despite that they are also energy efficient.
The green office space in Sofia is characterized with healthy environment and microclimate and more effective work of the employees. Further, the costs that the tenants need to pay are much less than in the regular offices in Sofia city. There are indications from some of the foreign investors that they need certified green buildings for their Sofia offices, once they register a company in Bulgaria. They consider this an important factor in their decision to enter the market of the country. The rental prices of the “green office centers” are determined by the market, but in general they require affordable rent and save money on monthly costs.
In the spring of 2013, the German Association of Cities complained that they fear from a serious flow of immigrants that will impose a burden on the social protection systems. Gunther Oettinger, the Energy Commissioner stated that Romania, Italy and Bulgaria are “ungovernable” countries that may endanger the stability in the region and in the Schengen zone in general. This speculation showed that the new rules of the Schengen area agreement could be a step back as they will be applied according to the criteria of the member states and can be very biased. According to this agreement, Bulgaria and Romania are no longer candidates to enter the Schengen zone, as they have answered the technical criteria and have the legal right to join the area. The new rules require a new evaluation system, so the organized crime and the corruption could no longer be the easy excuse of the member states to block the entry into Schengen of Bulgaria and Romania.
However, the entry of Bulgaria into Schengen depends on the member countries, the European Parliament and the Commission. Hopefully, thanks to the new rules the member states could feel more at ease to accept the two new countries in the Schengen zone.
The new business building Serdika Offices in the city of Sofia was awarded the prize “Green office building of the year in Southeastern Europe”. That happened during the international competition for real estate properties known as SEE Real Estate Awards. The office center is owned by an Austrian company and was nominated in the category “Green buildings” thanks to the innovations made in the building for energy efficiency. The prestige competition is organized for an eight consecutive year by EuropaProperty and this year the closing ceremony took place in the city of Bucharest. The office projects and residential buildings were evaluated by representatives from 26 real estate and construction companies, as well as finance and investment companies.
The project of Serdika Offices won the prize for many reasons. Due to the large green zones on the roof, the building allows for the absorption of larger quantities of rainwater, improves the quality of the water and absorbs the pollution. In addition, the windows and the sun protection devices have double glazing and are made of laminated safety glass that further improves the energy efficiency. This Sofia office building uses a building management system that controls the lighting in the common areas and the parking zones, the heating and ventilation, as well as the programming of the elevators.
In the end of May, the Council and the European Parliament reached an agreement and accepted a new package of legislative measures. According to the new rules shall be established internal borders within the Schengen area, however not everyone sees that as a progress. The agreement reached showed a compromise, since there was a clash in the opinions of the two institutions. It all started in 1985 when seven countries from Europe decided to abolish their internal borders and signed an agreement. The area with no borders was then joined by other states and some states outside the European Union like Switzerland, Iceland Norway and Liechtenstein. Nowadays, Schengen area has thirty members, where twenty-seven of which are using the agreement. The new rules that Bulgaria will have to follow once it enters the Schengen zone, have been set since a great number of immigrants started making troubles for some of the national populations.
The new way of government of the Schengen area aroused after the confrontation between the Council that wants more freedom for the states that want to introduce border controls and the European Parliament that wants to have strict rules on the right of the European citizens to free movement. According to the new agreement, the member states will be able to use border controls if they want to for a period of two years, in case they fear a thread from massive immigration. This means that there will be formalities to enter the Schengen zone if you are not a citizen of the European Union. The travelers will need to register online.
A certain number of companies have decided to save on rent and make virtual offices in Sofia instead of onsite offices based in the heart of Sofia or in the modern business centers. These are new international companies that are thinking to settle in Sofia and register a company in Bulgaria and existing small companies that can do their work online and do not need a regular office. The virtual offices in Sofia are a special service that includes the right to use an existing central and prestigious address, telephone landline and even a personal company assistant. Other services are offered as well including checking and forwarding of the emails, receive of fax messages, etc.
The interest towards the services of the Sofia virtual offices increased significantly in the last years of the global financial crises. Some of the clients also rent an office per day or conference halls for a short period of time. In this way they have the freedom to do their job and not pay for a full-time office and all its expenses. The rental levels of the virtual offices depend on the type of the services required, the short-term offices rented and the period during which the office will be used. The rental of these offices for a day or a week includes the expanses made on electricity, water, office supplies.
Belgium, one of the member states of the Schengen agreement, asked for a decision on the expansion of the zone that should be taken by the end of this year. At the end of May, the Foreign Minister of Belgium, Mr. Didier Reynders announced that his country would like to know whether the two countries Bulgaria and Romania will be accessed to Schengen or not. The border free travel area is expected to be expanded, but there is no certain dates on which that will happen. The Foreign Minister of Belgium along with the Foreign Ministry of Romania discussed the possibility for such decision of the expansion of the Schengen zone to be taken by the end of this year.
The process of expansion of the Schengen zone shall be approved after a unanimous vote made by all 27 member states of the European Union that take part in the Council for Justice and Home Affairs of the European Union. According to the predictions of the experts, Romania and Bulgaria will join the Schengen area together since they have already met the necessary technical requirements for entering the border and passport free zone.
The office market in Sofia will be characterized with a lot of activities and a growth, thanks to the increased number of investors in the area. The investments made in the Sofia city offices rose during the first quarter of the year according to the company Cushman & Wakefield. The activity on the office market in Sofia is further supported by the strengthening of the debt financing and the supply of business buildings of the highest class. Moreover, the rental levels of the Sofia offices are the lowest in Europe – approximately 9 Euros / sq.m, compared to 57 Euros / sq.m. for the offices in Paris – the city that has the most expensive offices on the continent. Many investors are now looking for an alternative and they find it in Bulgaria and its capital Sofia. In this city they can find modern Sofia offices, highly-educated professionals and higher return on the money invested, so they decide to outsource their business here.
According to the real estate agents, the tendency for the offices in Sofia from the first months of the year will affect the rest of the year. It is expected that many investors will head towards interesting new markets in Central and Eastern Europe, as they will be ready to register a company in Bulgaria, Sofia and the rest of the capitals of these countries. The offices remain the most preferred asset for the companies investors in Sofia city, both international and local.
The European Commission issues biannual overviews on the functioning of the area of Schengen, considered health-checks. According to the third biannual report that was released by the European Commission in the beginning of June, Bulgaria and its neighbor state Romania are ready to join the passport-free Schengen zone. The European Commission states that Bulgaria and Romania have successfully fulfilled the criteria for applying into the borderless area. Furthermore, the European Commission declared that it supports the efforts of the presidency that are made in that direction. Even so, the European Commission was yet not able to decide whether to lift the control that is made at the internal borders to the two countries.
Bulgaria has complied will all requirements that were laid in front of it in order to be accepted in the Schengen zone. That is why its efforts to become a member state of the Schengen agreement have been supported. At the moment the entry of both Bulgaria and Romania has been postponed. Hopefully, the two countries will be included in the passport free area at some point next spring.
Leading real estate companies predict a difficult year for the sales and rental office market in Europe. The companies comment that many offices in Europe stay available. In the first three months of the year the interest of the companies in the European countries has dropped to its lowest levels since year 2009. An increase in the interest of offices is seen in the countries of Central and Eastern Europe. The office markets there are welcoming new office and business projects, since many international companies are showing interest to register companies in Bulgaria and to open their own offices there. Bulgaria and especially Sofia is a good example of that trend. Many companies are outsourcing their businesses to Sofia, since the rental levels are quite low and there are many good office buildings of the highest class A.
It is expected that by the end of this year and in 2014, on the European markets will be presented more new office projects. Many of them will be located in important new markets in Central and Western Europe. As for the rental levels of the offices in Europe – they are expected to remain the same due to the ongoing recession. The Sofia offices rental levels remain lowest and are expected to keep that even after the slight growth in the rental levels of the European offices that is expected to happen in 2014.
The aim of the Schengen Information System is to collect and store information in accordance to the legislation system of each country. The system features more millions of entries that are called alerts and are usually covering lost identity documents, alerts for missing persons, banknotes and vehicles. The alerts contain certain information such as first and last name as well as the middle initial, sex and date of birth, nationality. The alerts also include information or whether the person is dangerous and armed, and what actions need to be taken if encountered. Bulgarian authority which is in charge for the entries is the Ministry of Internal Affairs. Bulgaria uses the Schengen Information System since the end of 2010.
The Schengen Information System does not collect information on the entries and exits of travelers. Bulgaria currently has such record on the entries and exits of the travelers, but currently that information is not exchanged between the national databases of these countries. Thanks to the new, second version of the Schengen Information System that was introduced in the beginning of June 2013, now more institutions will be able to use the data entered.
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