Saturday 21 February 2015

Bulgaria, Sofia: Compact, stylish office offering great value! 60m2 280 Euros

Give your business a strong market presence, with a compact, stylish office offering great value! Plugs your business into key downtown Sofia business network. Great for start ups, attractive working environment for staff & clients.



Давам под наем основно ремонтиран и обзаведен офис/кантора в гр.София, ул. 'Славянска'/Office prime location Ul.Slaviyanska  

Ul.Slaviyanska Sofia Bulgaria Office for rent!


 
Dynamic Space (Commercial Property)
Ul.Vladayska 42, Etaj.2, Apt.4
SOFIA, Bulgaria
1606
Tel : +359 (0) 2 9530116
Email : info@dynamicspacebg.com
Web: www.dynamicspacebg.com

Tuesday 3 September 2013

Greeks Fourlis & Danaos plan to build entire new district near Sofia, Bulgaria!

A whole new district with a residential complex and a business project will be erected in the capital, next to the Sofia Ring Mall near Bulgaria's sole IKEA store.

Greek investors Fourlis and Danaos plan to invest EUR 70 M in a residential complex and a further EUR 50 M in a business project, both part of the EUR 300 M Sofia Ring Development.

Sofia Ring Development is scheduled to be fully completed in 2019.
Sofia Ring Mall, which is to become Bulgaria's largest retail and entertainment destination together with the closely located store of IKEA Bulgaria, will be the first building to be unveiled in the mega complex in about a year.
The shopping center will provide to its customers views towards the city and Vitosha Mountain and a lot of green areas.

It will feature a tenant mix of over 200 stores, including fashion and sport stores, entertainment facilities, a 10-screen cinema multiplex. More than 25 000 sq meters of gross leasable area are slated to anchor tenants and more than 20 000 sq meters to fashion brands. In total Sofia Ring Mall will have 69 000 square meters of GLA (gross leasable area), and 172 000 square meters of gross built area on 3 retail floors.

One of the biggest advantages of Sofia Ring Mall is that it's a unique cluster of "big box" operators working in synergy with a classical "shopping mall" mix, making it and all-in-one offer catering all needs of visitors, the investors say.

Source courtesy of Novinite 

To rent offices with a service you can trust, in Bulgaria, contact the Dynamic Space the commercial property experts:

Website: www.dynamicspacebg.com

Mobile: +359 (0) 896670507 +359 (0) 897036030
Office/Fax: +359 (0) 2 953 01 16
e-mail: info@dynamicspacebg.com

Office Address: Ul.Vladayska 42, Sofia, Bulgaria

Twitter: @dynamicspacebg
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AIPP Member
 

Friday 1 March 2013

Sandstorm or spilt milk! (Bulgaria protects Black Sea dunes)

www.dynamicspacebg.com

Bulgaria's lawmakers have accepted legislative amendments banning construction activities on sand dunes across the country's Black Sea coast.
The amendments were proposed by Bulgaria's Regional Development Ministry in January.
The scandal with construction activities on 29 decares of protected sand dunes between Ravda and Nessebar on the Black Sea coast erupted in the last days of 2012 when environmentalists said that the area was part of the Aheloy-Ravda-Nessebar protected area from the Natura 2000.
As a result, it became clear that the area was sold without a tender based on an older law that was in force until 2010. The new Forestry Act, passed in 2011, technically does not provide any way of selling State land without tenders but it said it allowed procedures that started before 2010 to be completed under the older law.
In the aftermath, Prime Minister, Boyko Borisov, ordered Bulgaria's Ministers of Regional Development, Agriculture, and Environment to update the Forestry Act, the Environmental Protection Act, the Biological Diversity Act, and the Black Sea Coast Organization Act "so that such deals and construction projects couldn't be allowed."

Article courtesy of Novinite

Website: www.dynamicspacebg.com
Mobile: +359 (0) 896670507 +359 (0) 897036030
Office/Fax: +359 (0) 2 953 01 16
e-mail: info@dynamicspacebg.com
Office Address: Ul.Vladayska 42, Sofia, Bulgaria
Twitter: @dynamicspacebg
Linkedin
Facebook 
BBCC Member

AIPP Member
 

Trust capital is King! (Sourcing & Leasing Immovable Commercial Assets,Sofia, Bulgaria)



Service you can trust!
We have both residential and commercial brands with mobile device enabled web platforms. 

Trust capital is King when it comes to procurement/tenanting any immovable asset and it is all too often lacking in Sofia.

As a British owned enterprise we provide clients with a unique perspective acting as a reassuring 'cultural bridge' after 9+ years on the ground here in Sofia. This experience acts as a significant USP giving Dynamic Space (Commercial Property) a resonance with clients that few other ''brokeri-shmokeri'' can match.

The state of leasing services as delivered to the international business community in Sofia, is in the main, lamentable.  All too often it feels like we are standing on the shoulders of Pygmies rather than Giants when it comes to improving the service culture in the local real estate sector.

The experience of working with so called 'colleagues', more interested in pushing unsuitable assets on clients
and their commission, rather than tailoring a property search to the precise needs of their clients, is less than inspiring.

At Dynamic Space (Commercial Property) we offer a value added service with a skill set that reaches beyond door opening.  We offer surveying, fit-outs and project management to BREEAM / LEED / BOMA / RICS standards via our network of professional associates and strategic alliances.  


Our insight into local construction impact our clients for the good & we look forward to making a difference!  Let us know, what is your experience of Real Estate professionals in Bulgaria? 


To rent offices with a service you can trust, in Bulgaria, contact the Dynamic Space the commercial property experts:

Website: www.dynamicspacebg.com

Mobile: +359 (0) 896670507 +359 (0) 897036030
Office/Fax: +359 (0) 2 953 01 16
e-mail: info@dynamicspacebg.com

Office Address: Ul.Vladayska 42, Sofia, Bulgaria

Twitter: @dynamicspacebg
Linkedin
Facebook 
BBCC Member

AIPP Member
 

Wednesday 30 January 2013

Public Tender for Privatization of VMZ Sopot (Defense Industry)

Visit the Dynamic Space (Commercial Property) Website.

The public tender procedure for the privatization of VMZ Sopot, Bulgaria's largest, but troubled defense industry plant, will conclude in just two months.
The statement was made Monday by the country's Economy and Energy Minister, Delyan Dobrev.
All bidders are required to submit certificates for access to classified information and proof of having the required qualifications. They must hold licenses for both weapons trade and manufacturing.
Dobrev informed Monday that there are three bidders, all Bulgarian companies, and all are already cleared by the National Agency for State Security, DANS, thus the period has been shortened to two months instead of the previous 165 days.
The Minister did not reveal the names of the bidders, only saying these were strategic investors. The winning bid will be selected on basis of the most economically sound and profitable offer for the company.
The tender gives guarantees that the activities of the plant, and the salaries of workers will remain unchanged and that there would not be any layoffs.
The deadline to sell 118 000 000 shares from the plant or 100% of its capital, which was already extended once, expired at 5:30 pm on Friday, August 24.
I was reported earlier that documents were purchased by the Sofia-based Sage Consulting SA and Emko Ldt, the Ruse Dunarit SA and by lawyer Tihomir Trendafilov from Sofia.
The information was reported by the State privatization agency.
According to a check of the Trade Registry, conducted by the Bulgarian 24 Chassa (24 Hours) daily, Dunarit SA deals with design, manufacturing and trade of military products, industrial explosives, equipment for repair and maintenance of railroad tracks, plastic and metal parts, and utilization of ammo. It is linked to the President of Corporate Commercial Bank, Tsvetan Vassilev.
Sage Consulting deals with a wide range of activities such as weapons trade, ammo, real estate, and construction. Emko is also involved in a variety of activities such as legal, financial, business, translating consultations and services, creation, restoration and trade of art objects, ownership of art galleries, and repair of munitions, among others.
Attorney Trendafilov told 24 Chassa that he represents a foreign client from the defense sector, but added the latter wants to remain unidentified for the time being.
The evaluation criteria for the offers would be the proposed purchase price, investments and job openings. The deposit for participation is set at EUR 3 000 while the deadline for the bids is December 27 2012.
In the years prior to 2012, VMZ Sopot has been plagued with workers' unrest over delayed salaries and the plant's struggling finances.
Candidates applying to buy VMZ Sopot will be eligible to bid for it if they demonstrate they have enough funds to cover its mounting debts, totaling some BGN 140 M, according to the strategy for the privatization of VMZ Sopot adopted by the Bulgarian Parliament in 2011.
The VMZ Sopot plant employs 3 700 workers. It is located in the town of Sopot in central Bulgaria, which is the birthplace of Bulgarian writer and poet Ivan Vazov, after whom it was named. The plant was founded in 1936, and during the communist period was developed into a large-scale military industrial unit.
VMZ Sopot produces anti-tank guided and unguided missiles, aviation unguided missiles, artillery ammunition, fuses. It also manufactures civilian products – it makes diamond tools, abrasive discs and grinding wheels, gas cylinders, food industry equipment, and household appliances.
VMZ Sopot has been in a troubled financial condition in the last few years. In 2007, Bulgaria's Privatization Agency started to sell some of the plant's assets in order to cover part of its debts; some of its assets were also sold at the beginning of 2009.
The bulk of the Bulgarian military-industrial complex was created during the communist period when the People's Republic of Bulgaria made lots of cash by selling arms mostly to developing countries. Together with the former USSR and the former Czechoslovakia, Bulgaria was the third COMECON member specializing in the defense industry.

Article courtesy of Novinite

To rent offices with a service you can trust, in Bulgaria, contact the Dynamic Space property experts:

Website: www.dynamicspacebg.com

Mobile: +359 (0) 896670507 +359 (0) 897036030
Office/Fax: +359 (0) 2 953 01 16
e-mail: info@dynamicspacebg.com

Office Address: Ul.Vladayska 42, Sofia, Bulgaria

Twitter: @dynamicspacebg
  

SAC (Sofia Airport Centre) Open for Business (Bulgari's 1st LEED Facilty)

Visit the Dynamic Space (Commercial Property) Website. 
 
Sofia Airport Center which was officially opened on Thursday is Bulgaria's first Leadership in Energy and Environmental Design (LEED) commercial development.
The project, when built out, will consists of 180,000 square meters of Class A office space and 28,000 square meters of logistics and warehouse space, which is already operational and 100 percent occupied. The construction of a hotel with 175 rooms and new office and logistics buildings are planned for the future.
"Tishman International is a leader in innovative technologies and sustainable development and has always taken care of its tenants in the best possible way", said Alan D. Levy, Chairman of Tishman International. Our Bulgarian project is a model for high-quality construction not only in the Eastern-European region, but in Europe as a whole. In Bulgaria we have a well-trained team, under the directory of Julian Edwards, Managing Director – Europe for Tishman International, which worked very hard, so that now we can all be proud with Sofia Airport Center", he added.
All tenants who sign Letter-of-intent by the end of the year in the new business center will be able to use the complimentary services of professional architects and will be provided with furnishings for their multipurpose space at no additional charge. "This is an integral part of our program to stimulate companies to offer zones for relaxation, as we believe this will increase the level of motivation and creativity of the employees", said Mrs. Olga Stoichkova, SAC's Leasing Manager.
"Reducing energy consumption is of extreme importance to commercial buildings in the capital, not to mention the fact that it preserves the environment. I am conviced that business parks such as Sofia Airport Center are only the beginning of a new construction era in the capital, one that will contribute to a cleaner and nicer city. "Tishman is giving us a good lesson, one that we should learn", said the Mayor of Sofia, Jordanka Fandakova.
SAC incorporates environmentally friendly materials with state-of-the-art technologies to reduce operating costs as much as 30% and provide a comfortable, healthy environment for employees. Sustainable features include an energy-efficient Variable Air Volume (VAV) HVAC system, controlled by an automated building management system (BMS); advanced fiber optics; abundant natural light through open atriums and double-gazed windows; height, 2.85-meter ceilings; and solar shading on building exteriors to reduce heat and solar gain.
Tishman has also established an onsite sports facility within the Logistics Center of SAC. The fully equipped Dance and Aerobics Studio, which is open to all SAC employees and community residents, offers a variety of after-work training classes, including zumba, tae-bo, yoga and Bulgarian national dances.
"This technologically advanced commercial development features Western European/U.S-style onsite management services, which has attracted a roster of prestigious international companies that have chosen SAC for their regional or national headquarters", noted Julian Edwards.
Tishman International Companies is currently active in the United States, United Kingdom and Central & Eastern Europe including Bulgaria, Hungary, Czech Republic, Slovakia and Romania. The firm specializes, in the acquisition, development, management and financing of commercial real estate. Tishman has been a consultant and joint venture partner to some of the world's leading institutions and private investors and has recently been appointed by a UK Fund to provide asset and development management services for a portfolio of 12 properties located in Romania, Hungary, and Slovakia.
In 1986, Tishman International established its European headquarters in London, England. Since then, the company has developed and managed in excess of six million square feet of premier office and commercial space in the United Kingdom. Additionally, Tishman has provided acquisition and management expertise for millions of square feet of prime real estate assets in Europe, including several Supermarket Centres in the Czech Republic for an International Supermarket Company. Its prestigious roster of clients and partners has included Metropolitan Life, New York Life, Teachers Insurance, Bank of America, Grosvenor International, Citibank, American Express, Fidelity Investments, Lend Lease, HVB Real Estate, and many others.

Article courtesy of Novinite 

To rent offices with a service you can trust, in Bulgaria, contact the Dynamic Space property experts:

Website: www.dynamicspacebg.com

Mobile: +359 (0) 896670507 +359 (0) 897036030
Office/Fax: +359 (0) 2 953 01 16
e-mail: info@dynamicspacebg.com

Office Address: Ul.Vladayska 42, Sofia, Bulgaria

Twitter: @dynamicspacebg
  

International Real Estate Developers Urge Joined up Thinking to Draw FDI to Bulgaria

Visit the Dynamic Space (Commercial Property) Website. 

An exclusive interview with Alan Levy, Chairman of Tishman International Companies, on the occasion of the Grand Opening of Sofia Airport Center, a EUR 350 M office and logistics development, including the formal inauguration of the first ever LEED-certified Class A office building in Bulgaria.

You've spent lots of money, time, and efforts on this investment. Now that it is completed, is it what you expected it to be?
Yes, it's turned out to be what we called the wow factor. Did you park on the parking lot, and walk up the Spanish steps, as we call it?

Yes.

What was your impression when you got up there?
It is impressive. I don't think I've seen anything like that in Bulgaria.
You have not, and you won't for a long time. That was our intention – to create something that had never been done before – both in terms of the building itself, with technology and mechanical systems that we have for creating the eco-friendly, LEED-certified building, to the landscaping, the exterior, and the whole ambience; to create an impression and an atmosphere that is different from anything else – very relaxing, very suburban.

What did it take in terms of effort?
When we are finished developing the entire Sofia Airport Center, the investment will total about EUR 350 M, which is probably, as far as we know, the largest private investment of its type in Bulgaria. We are proud of that.
We wanted to create something big, different, with international flavor; something for which the international tenants would come, which is our target for them, so that what they see will be closer in quality and facilities to what they would experience in their home country.; so that down the road an international investor would look at it and see that it is of the quality according to the highest EU standards and the local Bulgarian standards, with some American and English touches to it.

The market seems pretty tough. Your establishment here is one of its kind for the region but do you have any concerns about the market?
Well, we wish it was 2007 again, and 2008-2010 didn't happen but you can't control the world. We didn't envision that we would have the crisis that we had, and we thought the market would continue to be robust as it was when we first started out in 2004.  But we see strengthening signs now. We are talking international users who are eying Bulgaria and the 10% flat personal and corporate tax as well as the lower cost of living expense is very attractive to them.  There is more interest from international users being generated. So we have hopes. We hope that Greece will solve its internal problems soon, and that the euro will strengthen, and that the world will somehow come to be closer to where it was. But it will take a while.

When you started, did you have high expectations for Bulgaria and Sofia as a logistics hub?
No, it's mixed use. In the Logistics Center, all the warehouse space that we built have been leased.
The office space is 85% leased so we are pretty much on our original target. Some of the rents fell during the crisis but when we first started leasing, the rents were higher than we had projected.

Have you witnessed anything changing in terms of Bulgaria becoming more open to international trading routes and logistics?
Now we see a larger demand for logistics space, and have designed the Sofia Airport Center to be flexible so some of its space could be either office, or logistics, and we are now looking at logistics.
We have a couple of tenants who want to expand, and I think we will build additional logistics space for them. You know, you must address the market needs.
As we lease this office building up, we will start with out second office building, and keep going. Right now in Bulgaria logistics seems to be in greater demand than Grade A office space.
As a foreign investor, what is your take on the Bulgarian economy? It's seems to be getting nowhere in the past couple of years...
It's been slow. Now it's up. The unemployment was up, now it's down a little bit. GDP was down, now it's increasing a little bit. It's slow, there is no question about it. The world is slow.
I think a lot of it has to do with waiting to see what happens with the US elections, and what happens with Greece and Spain, and the euro zone. There is a lot of cash but it is sitting on the sidelines waiting to see how the world is going to shape up.

What is your recommendation for the Bulgarian authorities?
I have been talking to various departments of the Bulgarian government to try to encourage them to develop some enticements and / or subsidies to, to attract FDI, foreign direct investment.  Companies who want to move here look at the region, and say, "What can you offer us?" "Oh, we got a 10% flat tax?" says the Bulgarian government. They answer, "OK, but what else?"
Some other neighboring countries say, "We'll give you subsidies for taxes for the first five years, we will give you subsidies for utilities for the first five years, we'll pay your social security taxes."
They will compete with subsidies somehow to allure that company to come over and create jobs.
With what we have built out at Sofia Airport Center, we think we are going to have 8000-10 000 people working here. It's like a small city.
But companies won't come unless they can get something that is a little better because other countries in the world offer something that is beyond just what they have. And that's what Bulgaria has to do.
It started to help a little bit because the InvestBulgaria Agency is now investing some money in road shows, going to different countries. I think they are now about to go to Singapore and Tokyo, to try to entice foreign tenants to move here.  It will take something a bit more ingenious than that - in my view, and in the view of the other AmCham members, because we did the road show in the USA with President Plevneliev recently, and many people said, "What are you offering us?"

We had an interview 3 years ago, when Bulgaria's new government had just taken over. Back then, you seemed optimistic about it as a foreign investor?...
As something new, you have expectations for a new broom that will sweep clean. I think everybody had such expectations, a new party, new ideas that would foster more growth.  Because of the EU money that came in, when Rosen Plevneliev was the Regional Development Minister of Bulgaria, a lot of the infrastructure got rebuilt, jobs got created, part of that was his vision, his entrepreneurship, and his background in real estate and construction.
He saw things that hadn't been done, he was able to maybe get a little more EU money than others might have. Now as President of Bulgaria, he has many interesting ideas. He is thinking ahead in order to make Bulgaria better, and to keep the young folks here while attracting foreign investors.
You have to be thinking outside the box, as we would say, and I think the Bulgarian government is trying to do that. But politics are politics. Whenever one party says it's good, the other says it's bad.

I know that you worked with Bulgarian President Rosen Plevneliev back when he was a developer. I remember that 3 years ago you were a bit surprised to see him become a government minister, and now you see him as President of Bulgaria. Was that a good choice for Bulgaria?
I think it was a great choice. A) Because of his background – somebody who is not a politician, but with business ground. Somebody who has been there, done that, who understands the problems. Because sometimes, if elected officials had never been in the trenches, they don't understand what the real troubles are.
And I think that's one of the advantages that Rosen brings. He knows the problems in trying to get permits, land acquisitions and projects developed. He knows the bureaucracy and the red tape, and what needs to be expedited. He knows the problems that need to be solved to expedite business. This is what needs to be done.

Jumping across the Atlantic, how do you expects the US elections will play out economically?
Every politician promises many things but no politician produces half of what he promises. It's because of the people, and the will of the people.
If the people don't say, "Hey, fellows, we gave you this job, if you want to be reemployed when it comes election time, , we need some action from you. Get serious, get some action, be commercial, and do what's good for the country!" So that's how you have to deal with politicians' promises sometimes because all they want is to get reelected.

If we go back to Sofia Airport Center, it involved a manager like yourself spending a lot of time in Bulgaria. How has this project changed you? What sort of an experience has it been for you personally investing in Bulgaria?
 I travel usually two weeks at home, and two weeks in Europe. Most of my two weeks in Europe are in Prague, and in Sofia. I've been coming to Bulgaria for about seven years, and I have seen how the country has grown, and become more westernized, more educated, more mature.
It has acquired a broader vision about the rest of the world than it had before – thanks to the Internet, TV, people traveling. Bulgaria is maturing.
I used to ask people if they know Prague, and tell them that Sofia is what Prague was 10 years ago. We are roughly 10 years behind in the growth and maturation of the country but it is getting there. It's going to take a while longer.
I see the young people in seminars, and trainings, and they want to learn, they are highly educated, they want to do better. That's good. People in Bulgaria are anxious to do better, they are ambitious. And that's what it takes. And that's happening. I see it each year.

You've had the Grand Opening of SAC. What is your message with this investment?

What Tishman is doing with our investment in Sofia Airport Center in Bulgaria is to honor Bulgaria and its young people by inviting several of the Bulgarian Olympians and Paralympians to be honored at our opening.
We have provided financial grants to the federations and teams, so that the youngsters can get into sports. It's healthy. This ties into our healthy Grade A buildings.  We are here, we like to be good citizens, we like to contribute to the community and the economy where we do business, and we think that by helping the young people we can demonstrate that we appreciate the courtesies that Bulgaria has shown to us. We are here to help them and help ourselves, obviously but to create more jobs, and hopefully we will produce financial results for us as well.

Article courtesy of Novinite

Contact Dynamic Space for honest and personalised Commercial Real Estate solutions: in Bulgaria:

Contact Dynamic Space for honest and personalised Commercial Real Estate solutions: in Bulgaria:

info@dynamicspacebg.com

www.dynamicspacebg.com

@dynamicspacebg

Dynamic Space (Commercial Proeprty)