Many New Sofia Offices in The Pipeline

The total square meters of Sofia offices that are expected to be completed in 2016 are not many, according to data released by the real estate agencies. However, the experts say that many more projects are in the pipeline to be completed by 2017. The office market in Sofia is mainly driven by the companies working in the outsourcing sphere, in the sphere of Informative Technologies and Pharmaceutical Business. Bulgaria and especially its capital Sofia are already well-known to the companies worldwide, as the country has excellent reputation for qualified professionals, normal wages, and modern offices of highest quality.

In year 2016 Bulgaria took the first place among the countries in the European Union concerning business deals signed. Based on that, as well as on the number of deals and the requests made, it is believed that the focus of the investors will broaden and will include Bulgaria. In 2015 only one large office project was released on the market – Capital Fort on “Tsarigradsko Schousse” Blvd. the rental levels of the high quality offices in 2015 were among 10.5 and 12.5 Euro/sq.m.

In the current year of 2016 the expected number of office premises to be released is around 63,000 sq.m, yet the prognosis for the completed office premises in the year to follow is for 170 000 sq.m. The office projects in Sofia to be released soon are yet to change the office market in the capital of Bulgaria. The rental levels of the offices are expected to go up and start from 12.5 Euro/sq.m and going up.