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Bulgarian Real Estate Market A Brief Overview

Bulgarian Real Estate Market A Brief Overview. Pavel Stamboliyski/ p.stamboliyski@mee.government.bg. Why Bulgaria? Macroeconomic stability. Political and economic stability Sustained GDP growth of 5% per year NATO membership achieved in 2004 EU membership set for 1 January 2007

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Bulgarian Real Estate Market A Brief Overview

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  1. Bulgarian Real Estate MarketA Brief Overview Pavel Stamboliyski/ p.stamboliyski@mee.government.bg

  2. Why Bulgaria?Macroeconomic stability • Political and economic stability • Sustained GDP growth of 5% per year • NATO membership achieved in 2004 • EU membership set for 1 January 2007 • Very competitive labor cost compared to the rest of Europe • Very competitive tax regime - 15% corporate profit tax as of 1 January 2005 • Well educated, highly trained multilingual workforce • Full national treatment of foreign investment • Investment grade rating BBB by S&P and Fitch • Foreign direct investment at 11.7% of GDP (EUR 2.3 bn in 2004)

  3. Why Bulgaria?Top tourist destination • Bulgaria voted No. 4 tourist destination worldwide by The Washington Post • 22% average annual growth of tourist arrivals for 2002 – 2004 • 43% year-on-year increase in British tourists for 2003 • Well developed and constantly improving summer resorts • Excellent skiing opportunities with guaranteed winter snowfall • Unbeatable prices guaranteeing best value for money holidays • 1600 thermal mineral water springs • Rich historical and cultural heritage • Easy access from Europe

  4. Why Bulgaria?Booming real estate sector • Growing economy and increasing flow of foreign companies increases demand for top quality office premises • 25% price growth in the last 12 months • Still lowest real estate prices in Europe • Strong year round corporate letting market in Sofia • Dramatic increase in demand for quality accommodation at Bulgarian resorts • Strong drive for property purchase from Bulgarians living abroad • Bulgaria on the agenda of top European real estate investment funds • Excellent return on investment rates • Third most popular destination for holiday homes amongst Brits for 2005

  5. Top Real Estate Agencies www.colliers.com/Markets/Bulgaria www.yavlena.com/en www.eltaconsult.com www.address.bg www.adis.bg/en/ www.bulgariandreams.com

  6. Top Construction Companies (2003)

  7. Class A office real estate comparison, 1H 2005

  8. FIABCI-Bulgaria Contact Information: 36-A "Partriarch Evtimii" blvd. fl. 1, ap. 3, Sofia, BG-1000BulgariaPhone : +359 2 9886890Fax : +359 2 9886891e-mail : office@fiabci-bg.comOther e-mail : nrpa@mb.bia-bg.comChapter ExecutivesPresident : Mr. Valentin Georgiev SaykovSecretary General : Ms. Hristina Kancheva Kancheva

  9. Success Stories

  10. Lindner Bulgaria - Business Park Sofia - A CITY WITHIN THE CITY Business Park Sofia is a genuine multifunctional high-tech business park, which combines the essentials components of business and the related sectors into one tight package of opportunities.

  11. Parameters of the project • Total investment EUR 150 million • 35 buildings • Plot area 220 000 m² • Total built-up area 300 000 m² of which: • Main area - 180 000 m² total built-up • Area of corporate building - 44 000 m² total built-up area • Commercial area - 74 000 m² total built-up area • 174 companies and growing • Parking of employees – 3 000 lots • Parking for visitors – 1 000 lots • 10 000 people working in the Park • 10 000 visitors a day www.businesspark-sofia.com

  12. Mall of Sofia • Investment: EUR 37 million • Project design: Moore Speakman International Team of Architects • Building description • The total built-up area is 75 000 m2 distributed as follows: • retail and entertainment - 35 000 m2 • offices - 10 000 m2 • underground parking - 22 000 m2 (approx. 700 car-parks) • service and common areas - 8 000 m2 • Investors: • General Electric (real estate division) • Aviv Construction and Public Works • Cinema City International • Quinlan Private www.mallofsofia.com

  13. Welcome to Bulgaria

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