Slight growth in logistics and retail space rents, despite no new mall expansion or openings being planned. These are the trends for the beginning of 2023, according to the latest report from Cushman & Wakefield Forton.

The first hostel with sleeping capsules has opened in Sofia. Green Cube is a low-budget hostel, which design follows the model of the unique Japanese lodgings with miniature rooms with individual sleeping capsules. The hostel is located next to the central railway and bus station of Sofia.

Hyatt Hotels Corporation announced the opening of Secrets Sunny Beach Resort & Spa, Dreams Sunny Beach Resort & Spa, AluaSun Helios Beach and Alua Helios Bay, representing the entry of the Inclusive Collection, part of World of Hyatt, into a third European country, complementing the existing presence of Hyatt’s all-inclusive resort brands in Spain and Greece. 

SOF Connect, the operator of Sofia Airport, announced its plans for accelerated investment in Sofia Airport by the end of 2025. More than €50 million annually will be invested in the expansion of the airport in the next three years. This will increase to €60 million or two-thirds more than what is stipulated in the concession contract.

The largest office complex in Central and Eastern Europe – Business Park Sofia, started its long-term transformation into a greener and more active urban space that offers complete experiences, recreation, and culture to its residents and guests.

Sofia's office market is moving at two speeds, with projects in the prime segment performing distinctly better than the rest of the market. These are the main insights of the latest report by Cushman & Wakefield Forton. The hybrid model of work is permanently imposed and breaks the link between business growth and hiring new space, especially in the segment of IT and BPO companies

Industrial developer CTP has recorded a net income of €130.7 million in the first quarter of 2023, up 21.9% year-on-year, while the like-for-like rental growth stood at 7.8%, mainly driven by indexation and reversion on renegotiations and expiring leases. The company’s profit for Q1 2023 was €225.4 million which is 274% above the figure for Q1 2022 (€60.2 million).

Swedish furniture brand Ikea has opened an expanded order centre in Mall Galleria, Burgas. It features 140 sqm of retail space, a new kitchen designing studio with a showroom and four additional planning areas.

According to preliminary data from the National Statistical Institute, the number of newly built residential buildings in the first quarter of 2023 was 1 289, and the number of newly built dwellings was 4,427.

Stanimir Yordanov is the newly appointed Head of the Design and Project Management Department at Avalant. The company launched its new service in mid-April 2023.