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Monthly Archives: March 2012

The business is moving to Sofia Ring Road

Mina Boycheva 27/03/2012

It seems that the big companies are moving towards the end of Sofia, near the Ring Road. There are already several large business centers, except the Business Park, since there are serious plans for the construction of good and convenient road connections. Thanks to the good infrastructure, this area of the city is expected to attract more business companies and thus the new office area is expected to be near the new section between the big furniture store “Ikea” and the future “Sofia Ring Mall”, which is expected to become one of the largest entertainment and shopping centers in Sofia.

Overall, the area between the Business Park and boulevard

Besides the business companies that are now coming to the Bulgarian capital and are looking for offices in the high Class A, the region is also provoking the interest of many major retailers of furniture and equipment. Overall, the area between the Business Park and boulevard “Bulgaria” is formed as a new and modern office and shopping area, where except the buildings already familiar to us like the Business Park and the stores “Technopolis” and “Como”, and the Cinema Complex “Arena”, soon there will be many new office buildings and large stores. Before this happens however, the area presents a nice selection of completed office centers. There is a tendency these centers to be rented by the new international companies who are just entering the Bulgarian market before new business areas to be constructed.

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The office construction in Sofia at a slower pace

Mina Boycheva 11/03/2012

Over the past few months the building companies in the capital were occupied mainly by finding new tenants for the existing office buildings and business centers they have built, rather than making new investments. In other words, the trend that is clearly seen is for a slow pace market when office construction is concerned and a focus on the newly established office areas in Sofia. However, the capital remains the main city for the large office projects and continues to be a preferred destination for the big foreign companies who now enter the Bulgarian market.

The capital remains the main city for the large office projects and continues to be a preferred destination for the big foreign companies who now enter the Bulgarian market.

Currently, there is a significant number of the developers who do not release their new office buildings before finding tenants for them and signing a long-term contract. The new tenants are often companies that come from low-end office buildings in search of better conditions and companies working in an area unaffected by the crisis and consequently expanding its staff. These days the rental levels of Sofia offices from the middle and the high class is about 8-11 Euro per square meter as the rent levels of the top offices remain stable.

The office market in Sofia faces bold relocation of companies in search of a much better quality, but possibly at a reasonable price.

The office market in Sofia faces bold relocation of companies in search of a much better quality, but possibly at a reasonable price. Naturally, the offices of high quality and a central location keep the high interest of the companies, while the offices that offer not so good conditions remain empty for a longer period of time. In the end of the last year and in the beginning of this year, there is a high interest in the option of renting virtual offices, since this service is becoming more and more popular among people with flexible businesses.

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