The new Sofia offices projects

The office market in Sofia city will be stirred next year with three new projects that will be completed and will enter their doors for new tenant companies. The three office buildings will add approximately 100 000 sq.m. more to the already existing office premises in the capital of Bulgaria. This new office area is above the annual percentage of the square meters of offices that were completed in the years before the crises, but at the same time is below the annual level of office demand in the period of the crises. In 2014 will be fully completed the administrative centers Capital Fort on Tsarigradsko Schousse Blvd, the Millennium Centre and the City Tower on Macedonia Square.

The supply of office space nowadays is approaching with slower steps if compared to the supply in the years before the crises, but still the number of offices provided is going up. According to the statistics, at the end of 2012 the office premises offered were 1.60 million sq.m, marking a 7 %year increase. The office premises that were completed were estimated to 108 000 sq.m., while the rented office premises for the same period were 85 000 sq.m. in total.

The main tenant on the office market remain the international companies, which are moving their offices on the territory of Bulgaria. In general these are companies from the IT sector and the pharmaceutical sector, which are looking for high-quality office premises in office buildings of class A that are easiy accessed via the public transport and feature parking zones. The real estate agents believe that the same parameters will form the office market search in 2013.