Category: blog

The constructions companies that are working on office projects in Sofia are trying to apply modern techniques and technology aiming to create comfortable and contemporary office buildings of the highest possible class. These office premises in Sofia are believed to provoke the attention of the international companies that are willing to relocate to Bulgaria and outsource their business activities in the country’s capital city.

The architects and engineers from the leading construction companies in Sofia try to accept each new office building as a mini ecosystem, since a great deal of the people there will spend at least 50 % and even more of their time in that working environment. The architects of Sofia business centers today are trying to present projects for office buildings with pleasant architecture, careful choice of the completion materials and precise implementation of each detail.

The contemporary situation on the Sofia office market requires the integration of good and functional layouts, done quickly but carefully, providing quality and compliance with all the modern requirements for efficiency. The integration of so many aspects in the construction of office buildings in Sofia is challenging as it features special project and design, choice of the right materials to be used and ideas and appliance of the latest technologies. The idea behind all that is for all the important elements to be combined in the construction of a modern office building of the highest class A, which will facilitate creativity and will stimulate the good mood among employees.

Among the main factors that are of greatest importance for the good functioning of each office building in Sofia and the issue of the highest class ecology certificate are the ones mentioned below:
• Spacious and bright working environment, served by air conditioners
• Excellent infrastructure, parking zone, access to services and recreation zones, served by the local transportation system
• Low exploitation costs with minimal energy use
• Fast and reliable communications
• Representative entrance and reception area
• Individual working places.

Among the other important elements of the successful Sofia office building is the appropriate form that has to be pure and clean, allowing for flexibility and efficiency, as well as for easy distribution of the working area.

For several years already, the outsourcing is the main engine that drives the office market in Sofia and also in Bulgaria. The country is preferred by the international outsourcing companies for several main reasons: Bulgaria has the lowest corporate tax in the European Union; excellent internet connection; well-educated professionals who speak at least one foreign language and last, but not least – high quality office premises.

The average size of the offices that are rented in Sofia is 1600 sq.m and the share of the outsourcing companies in the country has reached 65% of the entire office market. The available office premises of high class in Sofia in the end of 2014 were only 6%. The outsourcing companies on the Sofia market are looking for larger premises, as they usually employ more people. These companies are in search only of offices class A with excellent location and infrastructure. This is so, as the office location, the atmosphere and the conditions are part of what these companies offer to their employees.

The main requirements towards the offices in Sofia include large and bright premises with high ceilings, open-space layout, excellent quality of the rental service, parking area, shops and restaurants nearby, public transport, rental levels between 10-12 Euro/sq.m for Sofia offices of class A outside the downtown city area.

The quality office projects in Sofia, characterized with good locations have above 95 % occupancy. At the same time the interest of the foreign companies into outsourcing their business to Bulgaria is quite serious. The local investors show interest in the construction of new office buildings, yet the local banks are still quite cautious. Foreign investors are also showing signs that they wish to invest in new office projects in Sofia and may be in several of the other large cities in Bulgaria. The most sought after office locations in Sofia are already established. The general rule is the good infrastructure, which means proximity to public transport and especially the metro stations.

According to leading real estate companies, the office market in Sofia is stable and is developing well. The quality office buildings with good location are already occupied, so there is room for other new office projects in Sofia. The interest towards the old Sofia office location is strong. There is also serious interest towards the area around the airport and Hladilnika District, near Sofia Paradise Center. The most active companies on Sofia office market are coming from the IT and the outsourcing sector.

In the fall of 2014 the real estate agents registered increased interest by foreign investors towards the Sofia Offices. The interest was mainly from solid international companies which are eager to relocate part of their business activities in Sofia, as well as from companies which have already outsourced their business in the capital of Bulgaria but are expanding and thus in search of more and larger offices. Naturally, these companies are looking for offices of the highest segment – this means offices with top location, fantastic amenities and excellent facilities, plus great location with easy access for both clients of the companies and for the employees.

According to the real estate agents the number of the available offices of class A will decrease significantly as the investments made for the construction of new quality office buildings in Sofia are very limited. This is so as the banks are cautious, which is not bad since the growth will be smoother. The only larger office project now in construction in Sofia is a business building in the center of Drujba District, near the airport. These Sofia offices are to be completed in 2015 and are suitable for companies looking for an office premise and a storage area in one place. The new business center will offer 4000 sq.m of storage area which will be connected to the offices, shops, showrooms in the main business building with total area of 3000 sq.m. The new project will further have an underground garage with 70 parking lots.