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Sofia Will Have More Than 1m Sq M Office Space In 2008

Sofia's office space market registered another quarter of strong performance at the end of 2007, according to the latest MBL consultancy report.

The number of class A and B offices continued to grow, amounting to 784 000 sq m as of the end of fourth quarter of 2007, after a new delivery of 48 350 sq m office areas, all of them in suburban areas, according to research from MBL.

Provided data includes areas in single-tenant owner-occupied and speculative (developed as an investment product – aiming at subsequent sale/rent of the units for reaping profits) buildings, as well as in condominiums.

More than 580 000 sq m of class A and B office space were under construction in Sofia at the end of last year, two thirds of which were in suburban regions. Tsarigradsko Chaussee Blvd emerged as a main office location, with a view to the pipeline, MBL advisory commented.