ARTICLES LABELLED WITH TAG SEE

Turbo Garant, the Bulgarian subsidiary of Belgium's Turbos Hoet Group, opened a remanufactured turbocharger plant near Sofia on June 15th, an investment project worth €2.8 million, the company said in a press release.

Bulgarian retail group Videolux Holding has opened a retail park in the city of Pernik following an investment of some €20.45 million, the company announced in a press release,

Despite the COVID-19 pandemic and the introduction of hybrid working, the office market in Sofia has been developing extensively in recent years. Demand continues to increase, mainly due to IT and outsourcing sector representatives, and supply still cannot fully meet it. However, property developers in regional markets are still exercising caution when initiating new investments. These are some of the main conclusions of Colliers' latest report on offices in regional cities in Bulgaria.

With EBRD financing, Serbia will expand science and technology parks (STPs) and construct new ones in cities across the country, including Niš, Čačak, Kruševac and Belgrade (in the BIO4 Campus). A sovereign loan of €80 million and accompanying project agreements were signed in Belgrade by the Prime Minister of Serbia, Ana Brnabić, the Minister of Finance, Siniša Mali, and the EBRD Regional Head of the Western Balkans, Matteo Colangeli, as well as directors of existing STPs.

Brokers report a 30% drop in inquiries for purchasing a new home in Sofia. On an annual basis, the decrease in concluded deals is 15 %.

In 2023, the residential real estate market in Bulgaria is expected to remain calmer and more balanced than during the dynamic previous year. According to real estate agency Arco Real Estate, the forecast is for a slight cooling of interest due to factors such as inflation, the change, and the rise in mortgage rates, as well as the ongoing war in Ukraine.

Real estate market players are starting to recognise the importance of data but finding the right way to collect, analyse and utilise it is still often a challenge. Matej Leskovar, Managing Director at Slovenia-based software solution provider Imagine d.o.o. talked to Property Forum about this topic in detail.

Metro Bulgaria opened its first renovated franchise site in Bulgaria under the name "My Store". The program is one of the main company projects – a soft franchise model that brings together independent traders under one brand.

CA Immo has successfully signed and closed the sale of the Serbian office complex Belgrade Office Park to a domestic investor. With two buildings and an underground car park, the complex comprises approx. 27,200 sqm of total lettable space. The building, which is located close to the city centre, was 97% let as of April 30, 2023, with annualized gross rental income of around €4.4 million.

CBRE has announced the new role of Zvezdana Milutinović as Head of A&T Residential for the SEE region, effective June 1, 2023. Zvezdana joined CBRE at the beginning of the operations in the SEE region, 5 years ago when the direct office in Belgrade for the SEE region was established.