Sofia: The price of buildings near the Bulgarian Wall Street rose by 20%

Scores of stylish offices and trade buildings form the business centre of Sofia. A skyscraper with 30 floors is one of the new buildings in the region

A building plot with area of more than 5000 sq. m., (situated in the region of the Catholic Church) is expected to host the first skyscraper in Bulgaria. The sensible investment projects that one by one are implemented along “Todor Aleksandrov” Blvd., are leading to an increase in the prices of the old buildings. For example, the price of the buildings around “Arena - 1” cinema rose by more than 20%. Together with the new and stylish buildings, the boulevard has every right to be called the Bulgarian “Wall Street”.

Its development as a business centre is doubtless due to the extensive research carried out. The boulevard was named 12 years ago by the architect Georgi Stoylov, well known as a minister of construction, mayor of the city of Sofia, and scholar.
Everything here is new and stylish, there are no demolished and half finished buildings. The possibilities for constructing buildings up to 22-25 floors along the boulevard guarantees big interest from the serious investors. It’s a question of vision for every prosperous company to find business premises in the new City of Sofia. That is the reason why recently, the municipality specified that a plot of land on the boulevard close to the centre planned to be used for building a skyscraper, will probably be an office or a business building, not residential apartments.

“Todor Aleksandrov” Blvd. is unique in several aspects. It is the only boulevard which directly connects the two ends of the capital almost in straight line – from district “Lulin” to the center and after that through “Tsarigradsko chausse” and “Botevgradsko chausse”. Second, it is the only boulevard with an underground ‘Metro” beneath it. Third, there is direct access to the buildings from the boulevard and in the future, there will be local roads.
The results of the construction and its systematic support are scores of new buildings, completed or in the process of being built – from Bulbank to “Dobrinova Skala” Blvd. Large business and trade centers and luxurious hotels form the scenery along the road.

At the two ends are “Sheraton” hotel, Bulbank, “Anel” hotel, the head offices of Lukoil and First Eastern International Bank, “Arena - 1” cinema, McDonald’s, many petrol stations and large shops such as “Kirov Bosch” and “Zora” as well as “Sikonko” sports complex, and lots of new housing estates, most of which will be finished next year.
Another bonus for the area is the easy accessibility and free parking places. “Todor Aleksandrov” Blvd. is in an excellent location, with major routes in and out of the city crossing over it. (“Hristo Botev” Blvd., “Opalchenska” Str., “Konstantin Velichkov” Blvd., “Vardar”, “Orion”, “Pancho Vladigerov”, “Dobrinova Skala”), all of which guarantee the fastest access to all parts of the city. So, the Bulgarian “Wall Street” soon will begin from the outer fortress wall of ancient Serdika (Sofia).

The experts say that real interest in the new buildings is imminent. A couple of years were lost with urbanizing the regions along the boulevard because of confusions about the ownership, the infrastructure underground, etc., but now everything is back on track.