New office and business projects in Sofia city

For the first time in a period of more than 3 years will start the implementation of several new projects for business and office buildings in Sofia. The offices that have been rented out in the last three months have increased in number with 45%, due to the number of new foreign companies that emerged on the market. In the period between June and September the rental offices in Sofia were 20 000 sq.m. Most of the companies that decided to open new offices in Sofia city came from the outsourcing sector and the information technologies sector, which make 60% of the total coverage area of all rented office premises during the third quarter of 2013.

In the last three months the large international companies are moving to bigger offices due to the development of their business. The foreign companies are interested in the reasonable tax system and are attracted by the low wages and the low rental levels of the Sofia offices of class A. That is why during the third quarter of the year has started the construction of 15 000 sq.m of offices. Even so, by the end of next year 2014 will be completed only two large office projects in Sofia – the office area of Bulgaria Mall and Capital Fort. The interest is towards offices along Bulgaria Blvd. and the airport Sofia. The rental levels are expected to remain the same between 9 and 12 Euro/sq.m and 12.5 Euro/sq.m for the top center of Sofia. These levels will most probably remain the same until the end of this year and the beginning of next year.