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King Sturge In Talks With A Local Company To Land In Bulgaria

UK-based international property advisory King Sturge, which declared its intention to enter the  Bulgarian market, as previously reported, has already chosen a local partner – ProCon International property consultants, Yani Stoimenov and Andreana Petkova, managing partners in the Bulgarian company, said in a media statement.

The latter were the Bulgarian representatives of another consultancy – NAI Global, but they decided to put an end to their affiliation with NAI Global as of April 1.

King Sturge has been surveying property market in Bulgaria for a year and a half now, meeting different advisory and intermediary companies, Stoimenov said.

Negotiations between King Sturge and ProCon International have made much progress and are expected to end by the end of May.

The Bulgarian company has already signed an exclusive contract for the King Sturge brand in Bulgaria and at the latest edition of the real estate exhibition MIPIM in Cannes, Yani Stoimenov and Andreana Petkova were listed as representatives of the UK company for Bulgaria.

The two parties are expected to set up a joint stock company within several months. King Sturge will tap into the Bulgarian market through the newly established entity.

The UK-based consultancy holds the majority share in all its offices across the world, Stoimenov said.

To date, the British brand is represented in South Eastern Europe through companies in Greece, Romania, Serbia and Turkey (since last year). Its global network includes more than 3800 employees and 150 offices in Europe, North and Central America and Asia.