The Bulgarian commercial property market is expected to face over-saturation in an average-term period, according to prognosis made by Absolute Capital Management (ACM) investment fund manager Robert Provine.
The fund raised 100 million euro a year ago. It planned to invest in Central and Eastern Europe with a focus on Bulgaria and Romania. Despite its intentions, it has no project in Bulgaria yet, investor.bg reported.
Provine said that the company preferred to concentrate its efforts on Romania and Ukraine for now.
The large number of commercial property projects in Bulgaria made ACM managers conclude that the segment would soon reach saturation. The same predictions were recently made by consultancy company Colliers.
The Bulgarian and Romanian commercial property markets are comparable in terms of risk and transparency, but the fact that the Romanian market is larger is a reason to offer better investment opportunities, ACM representatives said.