ARTICLES LABELLED WITH TAG Sofia

Raycho Raychev, Founder and CEO of EnduroSat, and Petar Mitev, CEO of Chaos, have teamed up to purchase an office project in Sofia that previously hosted the HQ of Alpha Bank.

Kaufland continues to expand in Europe and revitalizations are playing an increasingly central role in this. The integration of existing retail locations and modernization has increased recently in comparison to the construction of new buildings. In the Bulgarian capital Sofia, a very special revitalization has now been completed.

AG Capital has announced that Park Lane Developments, its commercial development company, broke ground on its latest project – the AYA Business Centre in Sofia. The building is planned to become the new home for MFG (Management Financial Group). 

Bulgaria's real estate market in the first half of 2023 showcased a mix of stability, growth, and adaptability, according to the latest investment market overview from H1 2023, issued by Colliers. The main challenge for commercial real estate remains the ongoing business climate unpredictability.

Sofia has experienced steady growth in its industrial space market during the first half of 2023. With a total stock of over 4.0 million sqm of ready-to-use space and an additional 252,000 sqm under construction, the city is witnessing an upward trend. These findings are part of the latest industrial report, issued by the real estate company MBL. 

Sofia's office market faces shifting demand and moderating construction, according to a report by the real estate company MBL for the second quarter of 2023. Changing work patterns and preferences for hybrid models have raised concerns about the future demand for office space. The capital's vacancy rates decreased slightly, while rental rates remained stable. Investors are approaching the market with caution due to inflation and remote work practices. Despite the moderate activity, there is a potential for modern, well-located office spaces to attract higher occupancy and investment interest.

The first smart hotel of the chain Introvert will open this month in Sofia. The venue will be able to operate without staff. By the end of the year, two more will follow - one on Lege Street in Sofia and another in Cyprus.

Local company Glavbolgarstroy is building a new residential project named Ѕmаrt Тоwеr іn thе nеw buѕіnеѕѕ сеntre оf Ѕоfіа, іn thе аrеа оf Нlаdіlnіkа, nехt tо Раrаdіѕе Mall аnd Ѕоuth Раrk.

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 %.

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.