Outlook For Sofia Office Space Market Good Cb Richard Ellis 18/08/2008
Despite the effects of the credit crunch and forecasts for an overall slowdown in economic growth, Bulgarian gross domestic product defied the expectations of economists by recording seven per cent growth in the first quarter of 2008, real estate consultants CB Richard Ellis said in a Sofia office market overview for the first half of 2008.Bulgaria remains attractive to international companies that outsource and offshore parts of their activities to the country, driven by the availability of well-educated and experienced specialists at lower salaries as compared to Central and Eastern Europe, Western Europe and the US, as well as the low corporate and personal income taxes (both 10 per cent), among others. Therefore, according to the report, Sofia's office market will continue to... more

Spanish Riofisa Presents Its 270 Million Euro Civis Center 10/03/2008
Spanish mall developer Riofisa presented on February 13 its plans for a 270-million-euro retail compound in Sofia, to be built near Sofia’s central railway and bus stations, which is expected to improve the infrastructure and environment in this part of the city. The compound, to be called Civis Center, will be built in two stages, including a modern commercial and entertainment centre - “the largest in Bulgaria,” according to Juan Merino, general manager of the shopping centre division of Riofisa - and a 130-metre tower, which will house offices and a hotel. The construction of the three-storey retail centre, comprising more than 250 retail and entertainment units, in the first phase will cost 270 million euro. The mall will have 3 927 parking slots, a 13 500 sq m hypermarket on... more

German Retailer Lidl Picks Site For First Bulgarian Store 14/03/2008
Two years after announcing plans to build a store in the town of Pazardjik, in southern Bulgaria, German discount retailer Lidl has notified the town mayor of its interest in a 1.3 ha land plot, Dnevnik daily reported on March 10. Lidl, part of Schwarz Unternehmensgruppe, wants to build a 1500-sq m supermarket with 85 parking spaces, its first in the country. The company has offered to gentrify at its own expense the immediate vicinity of the proposed supermarket. The investment in the Lidl's project is evaluated at one million euro. The company operates over 7000 stores for food and non-food products in the discount segment in 22 countries in Western and Central Europe. Schwartz is already presented on the Bulgarian market with its hypermarket chain Kaufland. more