ARTICLES LABELLED WITH TAG Bulgaria

In March 2023, the Delta Planet Mall retail centre, located in Varna, Bulgaria, inaugurated an innovative photovoltaic solar installation. The investment of nearly €500,000 (BGN 1 million) covers the construction of 1,029 solar panels with a total capacity of 556 kW.

After the start of the pandemic in 2020, and its surge in 2021, the past 12 months have brought renewed market activity in an attempt to offset the previous slowdown. The retail sector, construction, and the IT sector managed to avoid the recession and maintain their position as the least affected industries by the pandemic. The investment market in Bulgaria for the second half of 2022 recorded twice as high activity in terms of volume as in H1 2022, according to the Sofia City Report by JLL with the support of IPC Partners Bulgaria and Avalant. Foreign investors are less cautious to expand to unload their cash given the limited amount of opportunities.

With 240 PropTech solutions at the beginning of 2023, the country is among the leaders in Europe in the field of smart cities, smart buildings, smart homes and water management.

Office Park Plovdiv has become the first office building with a Gold LEED Certificate for sustainable construction in the city.

The hypermarket chain has switched on 420 kWp of rooftop solar panels, bringing the total number of facilities to six. The two new sites are located in the southern city of Petrich and in the capital's Mladost 4 district. By the end of the ear, the retail leader plans to put into operation three more photovoltaic installations.

Glavbolgarstroy has inaugurated a fасtоrу for  pre-stressed reinforced concrete structures near Раzаrdzhіk, Bulgaria. The newly–opened plant provides 63 jobs, with a capacity of 80,000–140,000 square metres of built–up area per year, and a wide selection of frame construction schemes. The іnvеѕtmеnt amounts €6 mіllіоn (ВGN 10 mіllіоn).

The new office is located in the Balkan Business Center, near Tsarigradsko Shose Boulevard. The building is powered by 100% renewable energy sources and holds certificates of excellence in sustainable and green construction and energy efficiency.

The Bulgarian commercial property market in 2023 will maintain activity around last year's levels. Main buyers are again expected to be local investors with sufficient funds or being able to obtain favourable credit terms. This is what Cushman & Wakefield Forton is forecasting for the period. C&W Forton estimates the total volume of commercial property transactions in 2022 to be just over €270 million. Transactions with traditional market assets – office and retail space – are predominant, while there is also a stir in the industrial property segment

The relocation process of manufacturing and business operations to Bulgaria following the geopolitical pressure gives the country a decent chance of attracting foreign investments. Despite the prediction of a recession in 2023, the expectations are for opportunities in some sectors and for investors to focus on high–quality and sustainable product. The trend is outlined by Colliers in their latest country report.

The Bulgarian housing market entered 2023 with a fragile balance between demand and supply. The market is calming down, after a hyperactive 2022, according to the stats, showcased by Address Real Estate in their annual analyses.