New 64,000 sq.m of Office Space in Sofia
64,000 square meters of new offices were put into operation in Sofia in the first quarter of the current year. Thus, the percentage of vacant areas is slightly higher - from 9.5% to 9.8%. Major clients continue to be IT and BPO companies.
A high percentage of office buildings that have been put into operation have managed to find their tenants before they open their doors. Because of this, the correction in the share of free space is low.
For the first quarter of 2019, the office space under construction in the capital is 427,000 square meters. With the completion of new projects, the supply of Class A and B offices during the period reached 1,882 million square meters. It is expected that over 200 000 square meters will be put into operation through the entire 2019 and the first months of 2020.
"This is a significant volume, but considering that about 45% of these offices are negotiated with tenants still under construction, we do not expect their commissioning to bring about significant market changes this year. In the medium term, our forecast is for more tangible growth in vacant space and possibly a slight pressure on rental levels, "says Stanimira Pashova, Office Manager at Cushman & Wakefield Forton.
The offered rental rates are kept unchanged compared to the previous quarter - 15 EUR / sq.m for the highest class of offices in the center of Sofia and 13-14 EUR / sq.m for prime areas on the big boulevards.
Check our top commercial properties in Bulgaria
Read more news
Street Food & Art Festival is a new concept for an urban festival, its organizer Nikolay Todorov told Focus Radio.
The festival, held with the support of Burgas Municipality, is taking place in Burgas. More than 15 of the Best Street Food culinary artists in Bulgaria have been invited, Todorov said. "We are talking about mobile kitchens, kitchens on wheels, caravans, campers, truck... read more
An early Byzantine church, 20 by 10 meters in size, made from rock blocks and brick layers, with a floor lined with ceramic tiles has been discovered by archaeologists.
It has two entrances on the south and west sides and an interesting altar section, as it had benches where clergymen were sitting, as well as a bishop's throne in the central place, Professor Hitko Vachev said. He a... read more
For the 23rd time the International Fair of Crafts and Arts “Bulgarika” will become a venue for a big number of artists and craftsmen. In the period August 1– 21, some of the best artisans in the fields of fine and applied arts, crafts and music will participate in it. Traditionally, the audience will actively participate in the fair as they will be able to take part in crafts or arts workshops or... read more
Until the end of August, the village near Plovdiv is once again hosting Staro Zhelezare Street Art Village Festival.
The village itself has no more than 400 inhabitants. Every year the people behind this project – artists Katarzina and Ventsislav Piryankovi and students of theirs from Poznan, Poland, transform the place, painting and drawing on the walls of houses and fences.
... read more