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The number of the available Sofia offices dropped with 12%

Mina Boycheva 26/07/2013

According to real estate company Colliers, in the first six months of the year were rented more than 75 000 sq.m. of office premises. This means that the number of the available offices in Sofia is decreasing and has dropped with 12% for that period. Currently, the available office premises in Sofia are around 348 000 sq.m. The research shows that there is a serious interest by many international companies and outsourcing companies which are looking for offices of high class in Sofia city. At the same time, year 2013 started with low level of activity in the construction of new office premises. The Sofia office buildings that were completed in the first half of the year had total area of 34 000 sq.m. and at the same time no new office projects were started. Currently are being constructed 190 000 sq.m of office premises, which will be completed next year. These offices will be part of two office centers – Bulgaria Tower on “Bulgaria” Blvd. and Capital Fort on “Tsarigradscko Schousse” Blvd.

Sofia offices that are on demand are those with good location, placed in office centers and business centers with many extras. The companies which are looking for offices in Sofia city work in the sphere of software, pharmacy, trade, call centers. The two large companies that entered the office market in Sofia are Covance Medical in Bulgaria House office center and Servantes Institute in Sveta Sofia business center.

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Bulgaria and Romania will join forces to work on Schengen acceptance

Mina Boycheva 26/07/2013

The Prime Minister of Bulgaria Mr. Plamen Oresharski had a meeting with the Prime Minister of Romania Mr. Victor Ponta at the end of June. The meeting was arranged to discuss various matters of mutual interest for the two countries, however the main topic was the two countries’ bid to enter the passport free Schengen area. The two prime ministers agreed to organize a summit in the city of Varna in the autumn. The main decision that resulted from their meeting in July was that the two countries decided to work together and to face the difficulties they encounter. The two countries will coordinate their positions in an attempt to have a better standing in front of their partners from the European Union.

The accession of Bulgaria and Romania to the Schengen zone was blocked in March by a group of member states, on the basis of problems with the organized crime and the corruption which the two countries are believed to have. During the meeting the two prime ministers also discussed several projects that concern both of the countries, such as the energy project of Nabucco and the natural gas networks between the two countries.

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Sofia offices for rent are on demand

Mina Boycheva 22/07/2013

According to a research organized by the International company for management of trade and office premises Tishman International, there is a demand for business premises and offices for rent in Sofia, the capital of Bulgaria. The potential investors in Sofia office buildings come from all parts of the world, being intrigued and attracted by the flat income tax and the well-educated staff with good knowledge of foreign languages. Jullian Edwards, the managing director of Tishman International confirmed that and talked about the region's prospects in the online based forum for international real estate and investment RINFOR.

The potential investors in Sofia office buildings come from all parts of the world, being intrigued and attracted by the flat income tax and the well-educated staff with good knowledge of foreign languages.

According to Mr. Edwards, the company he presents had several inquiries from global financial institutions, pharmaceutical and insurance companies, call centers, and also manufacturers who are interested in the opportunities that are offered by Bulgaria. He further stated that Sofia city is attracting major companies with worldwide reputation and this is despite the current political situation. Tishman International company confirms that the available office premises of the highest class A in Sofia city are not many and they hope that the new office projects in Sofia that are about to be completed soon will give more opportunities to the prospective investors.

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Slovakia and Lithuania support Bulgaria’s entry into the Schengen zone

Mina Boycheva 22/07/2013

In the middle of June during a meeting with the Romanian Prime Minister, the Prime Minister of Slovakia confirmed that his country strongly supports Bulgaria and Romania accession to the border-free Schengen zone. He also said that no new criteria are expected to be implied. According to the Prime Minister Roberto Fico, there should be no other criteria for the accession besides the requirements that have already been established and which the two countries follow.

Slovakia and Lithuania support Bulgaria’s entry into the Schengen passport-free travel area.

A few weeks later Lithuania declared its support for Bulgaria and Romania for their efforts to enter the Schengen zone. Lithuania will be the next country that will host the European Union presidency and it will offer a discussion on accepting Bulgaria and Romania in the border free Schengen zone. This is expected to happen in December during a meeting of the European Ministers of Interior. According to Lithuania, they will do their best to reach a favorable decision on Bulgaria and Romania entering the Schengen area. The president of the country has presented his credential letters to the Bulgarian ambassador in Lithuania, stating that his country strongly supports the accession. Bulgaria and Romania were postponed to enter the passport free zone of Schengen in the beginning of the year when several member state countries stated that they do not show serious results in their fight against organized crime and against corruption.

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Sofia offices, part of Central European office market

Mina Boycheva 19/07/2013

As part of the Central European office market, the offices in Sofia are in demand. The investments made in business properties in Central and Eastern Europe has reached 3.7 milliard Euro for the first five months of the year which marks 30 % increase compared to the first half of the last year. These data was provided by the consultancy company CBRE and were presented by Investor.bg website. The increase in the sales of offices in Sofia and the rest of Europe, as well as the increase of the rental of Sofia offices are due to the strong market in Russia. The Russian investors are heading towards the business properties and the office premises in Sofia and in the other capitals in Eastern and Central Europe. Still valid is the tendency according to which the investors are looking for high-class office premises with many extras and facilities.

The companies in Sofia which are looking for office premises show interest in the modern business centers, however they are also interested in the small individual offices in the very center of Sofia city.

The companies in Sofia which are looking for office premises show interest in the modern business centers, however they are also interested in the small individual offices in the very center of Sofia city. The prognosis are that once the situation in Bulgaria allows for more investments to be made these companies will move towards the new office buildings in Sofia, even though they are outside the very center of the capital. The companies are attracted by the office centers in Sofia which have parking area, 24-hour security service, management and service team and other comforts.

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Schengen: the oral report on Bulgaria was given yesterday

Mina Boycheva 19/07/2013

On July 18th the European Union member states presented the oral Cooperation and Verification Mechanism report on Bulgaria. The report contain facts and does not include political assessments. The spokesman of the European Commission Mr. Mark Gray stated that the report on Bulgaria will not criticize the current government of the country, which is opposed by strikes for a month already. Mr. Mark Gray confirmed that Bulgaria still has political will to work against corruption and to fight against the organized crime. The verbal presentation that was made by the European Commission this week is based only on trustworthy facts. In other words, the information that the European Commssion will recommend a postponement of the entry of Bulgaria into the passport-free Schengen area by at least one year because of the country’s unsatisfying progress and political crisis is false.

The verbal presentation that was made by the European Commission this week is based only on trustworthy facts. In other words, the information that the European Commssion will recommend a postponement of the entry of Bulgaria into the passport-free Schengen area by at least one year because of the country’s unsatisfying progress and political crisis is false.

At the same time, in the middle of last month, the two member states that are waiting to enter the Schengen zone Bulgaria and Romania, declared that they will joint their efforts for the construction of a third bridge over Danube River. The third bridge will connect the cities of Silistra in Bulgaria and Calarasi in Romania, as it was agreed by the presidents of the two countries during the 18th Central European Summit Meeting in Bratislava, the capital of Slovakia. Bulgaria and Romania will look for financing under the Structural Funds of the European Union, the Program for Cross Border Cooperation and Danube Strategy.

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Sofia green offices on demand

Mina Boycheva 28/06/2013

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.

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.

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Bulgaria – legally bound to enter the Schengen zone

Mina Boycheva 28/06/2013

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.

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.

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.

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Serdika offices in Sofia with an award

Mina Boycheva 27/06/2013

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 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 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.

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Schengen area, Bulgaria and the new rules

Mina Boycheva 27/06/2013

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.

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 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.

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