Investment of 130 Million Euros in Sofia Business Offices

In July one of the largest real estate companies operating in Bulgaria – Forton has stated that Sofia is to expect 130 million Euro investments in business properties by the end of the year. The statistics of the company includes sales of offices in Sofia, but also commercial properties and industrial properties, hotels and plots of development land. According to the Executive Director of the company, the office market in Sofia is in a good place.

Forton company expects continuing and solid recovery of the office market in Sofia. The company had its strongest 6 months of office rental since 2009. Some of the largest office premises in Sofia that have been rented in the first half of 2014 include the rental contract of HP company with “Kambanite Business Center”, the expansion of the VM Ware company on “Tsarigradsko Schousse” Blvd. and the rental of BM Global Delivery Center at Sofia Airport Center, etc. At the same time, the completion of new office buildings in Sofia at the moment is at its lowest level. The available office premises in Sofia are 28.5 %, while the number of the available offices in Sofia in the top 10 office buildings is only 6.6 %. Bulgaria and especially Sofia city are on focus by the large companies from Western Europe and from the United States. That tendency will keep the office market busy in the future months and years. The rental levels of the office premises in Sofia of class A are around 12 Euro/sq.m. The companies are looking for qualified employees and are thus helping the local economy.