ARTICLES LABELLED WITH TAG Bulgaria

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.

CTP has delivered a state-of-the-art 15,000 square metre logistics development at CTPark Sofia Airport to its anchor tenant DSV, the third-largest logistics company in Europe and one of the top ten globally. This second development for Danish-headquartered DSV doubles its total footprint at CTPark Sofia Airport to approximately 30,000 sqm.

Property Forum is looking for a part-time editor covering the Bulgarian real estate market to help expand its CEE intelligence platform. 

GTC announced that Ziv Gigi has been promoted to Executive Director for the Southeast Europe region. In his new role, he will be responsible for all operations of the office sector in Bulgaria, Romania, Serbia and Croatia. He will be in charge of executing the company's strategy and development plan, as well as all of its operational activities, including leasing and asset management. Ziv Gigi’s promotion is part of the company’s greater transformation to strengthen its country leadership to be more responsive to opportunities and challenges in local markets.

Bulgaria’s Recovery and Resilience Plan (RRP) aims to facilitate economic and social recovery from the COVID-19 crisis and to create a more sustainable, equitable, and successful economy. It includes a set of schemes not only to restore the economy's growth potential but to boost it, too. In achieving this, several construction projects to increase energy efficiency and decrease CO2 impact are to be implemented in 2023-2026, says Anita Dangova at EPI, EECFA’s Bulgarian research institute.

Industrial developer CTP has kicked off a new €150 million investment program to develop over 200,000 sqm of prime warehouse space in Bulgaria over the next two years. The company will also take over two logistics centres in the capital Sofia from Bulgarian logistics developer and operator Transcapital, as part of the investment efforts.

Revetas Capital announced a 29% increase in turnovers and an 18% increase in footfall for the first 8 months at Park Center Sofia, Bulgaria, compared to the same period in 2021.

Hungary's B+N Referencia Zrt. has acquired Bulgarian facility management company i-Facility EOOD. With this new subsidiary, the company is now present in 7 countries in Central Europe.