Brand New Sofia Offices of 70 000 sq.m ready by the end of 2016

Many office buildings in Sofia that were under construction have been completed or are near completion by the end of 2016. At the same time, the increased demand for such offices have let to the start of many new office building projects in Sofia. In the end of 2015 the city had 1.79 million sq.m. of office premises. The large office projects that were completed in the capital of Bulgaria included Capital Fort with its 42 000 sq.m, Brussels Business Center with its two office towers of 9000 sq.m and Trade Center Europe with 8000 sq.m, as well as the SPS Tower featuring another 10 000 sq.m.

The increased demand of the large companies led to the start of many new projects and enlargement of the ones that already existed. Approximately 30 % of these office buildings in Sofia were constructed for own usage or were not large enough to answer to the needs and demand of the large outsourcing companies. The companies that stay behind the increased demand are working in the IT and the outsourcing sphere. These companies already occupy almost three thirds of the rented offices of class A in Sofia. The low levels of supply of this type of offices lead to a slight increase in the rental levels.