colliers magazine issue 78

colliers magazine78 | 2010

office solutionsright nowclass A office projects

Serdika Offices: “be ready with your quality project when the market shows demand”

“investors clearly see the market resetting and about to enter the next upward cycle”

lifeStyle:a walk down Graf ignatiev Str.

The indispensable handbook for commercial office space

Tenant Leasing Guide

This is an abstract of Colliers TenanT leasing guide.if you find it missing, someone has already taken hold of it. if you want to receive your copy of the full version, please contact us at 02 976 9 976.

in this issue:

4 news from BuLGaria

6 many office soLuTionsriGhT now

8 cLass a office projecTs

10 serdika offices: “Be ready wiTh your quaLiTy projecT when The markeT shows demand”

12 office offers

16 LoGisTics and indusTriaL projecTs

20 “invesTors cLearLy see The mar-keT reseTTinG and aBouT To enTer The nexT upward cycLe”

22 reTaiL projecTs

24 LifesTyLe: a waLk down Graf iGna-Tiev sTr.

26 residenTiaL projecTs

Business park sofiaBuilding 7B, 2nd floor1766 sofiaTel: + (359) 2 976 9 976

[email protected]/bulgaria

colliers magazine 3editor'snote

dear reader,

welcome to the summer issue of colliers magazine which is dedicated to the office real estate market.

first impressions last. That is valid whether you go for the first job inter-view, an important date, or welcome potential clients or partners to your office. which impression does your current, corporate location leave?

The summer months may be a good time to contemplate if your office space fits the current and future needs of your company, and if it leaves the right first impression. we are pleased to share our tenant leasing handbook summary – an easy step-by-step guide to the leasing process. To stay updated on the latest development and trends in the office market, go to page 6 for the interview with anton slavtchev, manager, offices & Business parks. Learn more about the landmark office projects in sofia (page 8) or check other office options (pages 12-15). on page 20 we un-cover the global investment market - are markets about to enter the next upward cycle? summer means time for long walks and maybe gets new impressions. Graf ignatiev street in sofia may feel familiar, but through the prism of some unknown facts and elements it offers a new perspective (lifestyle section, pages 24-25)

…and if you are still wondering if there is a better office solution, do not hesitate to contact us; no matter the size of your business is, there is an office for you too.

colliers wishes pleasant reading and an exciting summer season!

graphic design by Colliers internationalcolliers international is a worldwide afiliation of independently owned and operated companies.

This magazine has been prepared by colliers international for advertising and general information only. colliers international makes no guarantees, representations or warranties of any kind, express or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. any interested party should undertake their own inquiries as to the accuracy of the information. colliers international excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from.

printed on recycled paper

find out more onwww.offices.colliers.bg

The Mall announces a successful one month of operation

european Trade center has welcomed three new tenants - alcatel Lucent, samsung and special events Group, all of which will occupy building B in eTc. alcatel-Lucent, a global leader in fixed, mobile and converged broadband net-working, ip technologies, applications and services, will occupy 1,200 sqm in eTc. samsung, a global market leader in high-tech electronics manufactur-ing and digital media, will occupy 500 sqm, and special events Group (the new name of kongresstechnik-Bulgar-ia) - a Bulgarian-austrian conference service provider offering the full range of technical facilities for world-class conference events – will spread their office on 300 sqm.

within just a month and a half of its opening, The maLL has already welcomed a million and a half

visitors. “i am proud to see The maLL is gaining ground as the new urban destina-tion, just as it was meant to be. it has been a milestone for the project to stand up for itself in the retail market right from the start. The hard work, however, is yet to come, with the stakes in the quest being customers’ long-term loyalty, and not just

fleeting fascination any more. and this is where The maLL is to offer more lasting experience and difference to clients. ”, comments frank whiting, shopping center manager at The maLL.The biggest shopping center in Bulgaria sets out to challenge local concepts of both scale and positioning. a strategic location on one of the main traffic arteries of sofia, a diverse and unique entertainment zone, a rich selection of world-famous brands and

great shopping opportunities blend within the core strategy of the property manage-ment consultant, colliers international. within only a month, this approach has helped position the shopping center as the preferred urban destination of an average of 45,000 people per day.a successful completion of the iso 14001:2004 certification of the project is also among the highlights in its track record so far.

amongst the anchors of THe Mall is europe’s leading retailer Carrefour (the first in sofia), as well as several retail brands that are new to the Bulgarian market. The new shopping center offers a great variety of leading interna-tional and Bulgarian retail brands and numerous entertainment facilities, including a 10-screen cinema complex, restaurants, bowling, fitness, children’s area, sports and gaming arcade.

Colliers international is the exclu-sive leasing agent and property management company of the project.

Colliers secures three new tenants for the european Trade Center

news from Bulgaria4

according to colliers international’s experts, the office rental levels in Bulgaria are start-ing to stabilize. colliers’ Top-15 research, conducted by the end of march 2010, includes the 15 largest existing, multi-tenant office projects in sofia. The projects have a combined size of almost 300,000 sqm, representing more than a third of the total speculative stock, and serving as an indica-tor of the developments in the market during the first quarter of 2010.

“after a period of relatively low activity, we are already seeing signs of recovery in the office market. we expect the market to start picking up in the second half of the year with more transactions at attractive rental levels and conditions taking place”, said anton slavtchev, manager, offices and Business parks at colliers international.if you wish to learn more about the perspec-tives to the office market development, please go to page 6.

The biggest mall in varna and the region (GLa 52,000 sqm) officially opened doors in the end of may. visi-

tors witnessed the debut of many interna-tional and domestic brands in the city, such as carrefour, the retail giant inditex with its brands Zara, Bershka, pull & Bear and stradivarius and arena cinema. “it is our intention to position Grand mall very firmly as the number one leisure, shopping and entertainment destination in varna. The design, atmosphere and superb tenant line up will ensure that we are able to capture not only the varna population but also to draw in customers from the entire region. with a combination of great service, great marketing, great atmos-phere and most importantly great tenants

we will ensure that Grand mall will very quickly become a landmark development in varna”, said steven cleaver, mall manager of Grand mall. “colliers team is excited to witness the opening of such a milestone project for

varna. we are very pleased to have secured strong anchors for Grand mall – a result of the focused and dedicated effort of the whole retail team. This is also an indication of the confidence in the project and i am sure that Grand mall will position itself as a preferred shopping destination for the whole region”, shared iglika yordanova, manager, retail services, colliers international.

Colliers international is an exclusive leasing and property management company of the project.

grand Mall opens doors

ING bank will situate one of its head office divisions in kambanite Business center – a class a office building featuring modern business systems and office space flexibility.

Colliers international: “More transactions on the office market are expected in the second half of 2010”

one of the biggest Bulgarian auto parts dis-tributors – euro 07, leased 1000 sqm ware-house in universal Logistics. The industrial project is located close to Bulgaria’s capital, with an excellent accessibility to the airport and the 3 Trans-european corridors.

solaris 999, fmcG distributor, will be the new tenant of Zmm (1000 sqm), another industrial project in the northwestern part of sofia. colliers has been representative of the landlord for both projects.

Colliers secures new tenants for universal logistics and ZMM

colliers magazine 5news

ity, lease conditions…? A.S. recent research conducted among 900 major employers shows that the key priorities are location, parking and easy access. our experience further shows that most companies select the location as a main driver when looking for new office premises. The market’s current conditions are favorable enough to provide prospec-tive tenants with the best possible solution: good location, building class and quality, attractive rents.

Is Bulgaria an attractive outsourcing destination? How can we ensure that more companies enter the Bulgarian market? A.S. according to the recent research

more transactions on the office market are expected in the second half of 2010

many efficient solutions right now

conducted by colliers international and a.T. kearney, Bulgaria is the leading cost-quality location for Bpos in europe. it consistently ranks in the top 15 worldwide as the best location for servicing Bpo functions based on the following components: financial at-tractiveness, business environment, people skills and availability. at colliers we strongly believe that the Bpo industry will create numerous opportuni-ties for our country and the business – of course, with the dedicated support of the government and the involvement of the business community in order to further contribute to promoting Bulgaria as a global Bpo destination.

What are your expectations regarding

here is what anton slavtchev, man-ager - offices and Business parks, shares with colliers magazine’s

readers regarding the development on the office market in sofia.

Mr. Slavtchev, are you witnessing a change in the office market environ-ment? A.S. after a period of relatively low activity, we are already seeing signs of recovery in the office market. although companies tend to be more selective in choosing the best office solution, there are actually transac-tions that are indicative that this market has started to pick up. The majority of the current activity on the market is driven by relocations. companies choose to optimize their office space, take advantage of the better market conditions or opt for a quality office in a better location or lease conditions, thus being able to reduce their operational costs.

Which type of companies has been the main driver of the office market lately? A.S. many transactions during the last few months were related to companies, operating on the iT and Business process outsourcing (Bpo) sectors. These compa-nies will remain the most active ones and are also expected to drive demand going forward. The effect of further consolidation and global mergers and acquisitions will be a major driver of demand on the sofia of-fice market in the coming months as well.

What is it that these companies are mostly looking for – location, quality and functionality, office space flexibil-

anton slavtchev, Manager - offices and Business Parks at Colliers international Bulgaria

6

the short-term development in the of-fice market?A.S. The number of pre-leases signed for the "Top-15" (the 15 largest office buildings in sofia) during this period of time indicates that the market is taking advantage of the attractive conditions offered at the mo-ment, and higher absorption is foreseen in the coming quarter. we expect the market to start picking up in the second half of the year with more transactions at attractive rental levels and conditions taking place. Though landlords have become more flex-ible, they would offer rental reductions as a last resort, and prefer to entice tenants with step-rents, rent-free periods, free mov-ing and other incentives.our expectation is an increased fragmen-tation on the market, where established office locations will continue to be success-ful, while some newly build office buildings will struggle to find tenants in a rather soft, demand-driven market. even very competi-tive rental offers will probably not be suf-ficient to draw in occupiers. so in essence, we will see a market in two paces; one segment with slight increasing rents and relatively stable occupancy, and another with tumbling rental rates and low tenancy.

What is the key message you would like to send to prospective tenants? A.S. my main advice to companies is that they can optimize their office solutions at very favorable conditions right now. There are numerous opportunities in the market, which offers flexible and efficient solutions meeting every company’s specific needs. ■

Financial attractiveness People skills and avaliability Business environment

3,13 2,48 1,30

2,59 2,33 1,37

2,76 1,24 1,97

3,05 1,30 1,41

3,23 1,47 0,99

3,07 1,20 1,37

3,19 1,17 1,24

2,41 1,20 1,89

2,99 0,91 1,59

3,21 1,02 1,24

2,48 1,50 1,45

2,18 1,83 1,37

2,83 0,89 1,62

0,47 2,71 2,15

3,26 0,70 1,36

3,13 0,95 1,17

2,86 0,91 1,45

2,06 0,93 2,20

3,12 1,08 0,93

2,63 0,91 1,58

2,31 0,81 1,99

2,28 0,86 1,96

1,74 1,14 2,07

2,39 1,45 1,08

1,95 1,01 1,92

1,82 1,22 1,73

2,05 0,94 1,75

2,63 0,97 0,99

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7colliers magazineinterview

PrOject nAme lOcAtiOn Size AmenitieS PArkinG key BenefitS

euroPean Trade CenTerwww.etc–bg.net

Tsarigradsko shousse Blvd. — one of the busiest traffic arteries in sofia

TBa 72,000 sqmGLa 50,000 sqmfloor plate 1,300 to 1,700 sqm(buildings B, c, d)

• variety of shopping and leisure facilities• banks• mobile operators• office supply store• restaurants, cafés and food court

more than 800 parking spaces within easy reach on three levels under the office buildings

• a landmark office project with excellent location and accessibility• the highest office building in sofia, offering unmatched visibility • easy access to the central Business district and sofia international airport• good access by public transportation• each building has direct access to the underground garage and storage facilities• contemporary building management systems and property management• key tenants: vivacom, alcatel-Lucent, samsung, special

events Group, call point new europe, inditex

serdika oFFiCeswww.serdika–offices.com

sofia’s Broad center, sitnyakovo Blvd.TBa 35,000 sqmGLa 28,000 sqmfloor plate up to 4,000 sqm

• hypermarket, shopping, wellness and entertainment facilities

• bank offices• food court and restaurants in the

shopping area and the office part

underground and open air parking500 parking lots dedicated to the office tower

• a benchmark office center adjacent to the shopping mall• created by a highly–experienced international team of companies• class a office space with contemporary technical specifications• great visibility and quick access to downtown sofia• high optimization of working space, flexibility in partitioning

Business Park soFiawww.businesspark–sofia.com

at the foot of the vitosha mountain, about 20 minutes away from the central Business district in sofia

TBa 300,000 sqm

• bank branches• restaurants, cafés, 15 screens multiplex• pharmacy• copy center and office supply• car service and rental• supermarket• electronic and home

supply hypermarket• holiday inn hotel

4,000 parking spaces

• provides efficiency, flexibility and convenience for corporate tenants• attractive work environment, with abundant

opportunities to relax and find inspiration• good infrastructure • conveniently reachable from all major boulevards

and direct access to the ring road• within a 10 minute drive from the international airport• high level of security

Bulgaria House sofia, close to the crossroad with Todor kableshkov Blvd.

TBa 12,400 sqmGLa 10,500 sqmfloor plate 212 — 2,200 sqm

• Bar & dinner (in the building)• Billa hypermarket within

walking distance• gym within walking distance• number of restaurants and bank

branches within the area

underground parking with 65 parking spaces

• located in one of the most dynamic commercial and residential areas in sofia on Bulgaria Blvd.

• excellent visibility • easy access by foot as well as public and private transportation• convenient underground parking• flexible partitioning

PlaTinuM Business CenTer sofia’s central Business district TBa 8,760 sqmGLa 7,000 sqm

• conference facilities• on–site short term apartment • fitness center• café

available (underground and open–space)

• exceptional design and high quality materials• high level security, state–of–the–art systems and communications• access to a number of amenities• property management• governmental and financial institutions within walking distance• blue chip tenant mix

landMark CenTre Varnavarna, central Business district, in close proximity to the city hall and the sea Garden

TBa 10,500 sqmGLa 6,300 sqmfloor plate 1,200 sqm

• many restaurants, cafés and office supply stores within walking distance

• bank branches and the entire downtown shopping area in close proximity

two–level underground parking with 72 parking spaces

• landmark building with classic architectural design and distinctive exterior• less than 10 minutes away from the international airport• flexible floor areas and efficient accommodation options• convenient parking• property management services

colliers magazine8 classAofficeprojects

PrOject nAme lOcAtiOn Size AmenitieS PArkinG key BenefitS

euroPean Trade CenTerwww.etc–bg.net

Tsarigradsko shousse Blvd. — one of the busiest traffic arteries in sofia

TBa 72,000 sqmGLa 50,000 sqmfloor plate 1,300 to 1,700 sqm(buildings B, c, d)

• variety of shopping and leisure facilities• banks• mobile operators• office supply store• restaurants, cafés and food court

more than 800 parking spaces within easy reach on three levels under the office buildings

• a landmark office project with excellent location and accessibility• the highest office building in sofia, offering unmatched visibility • easy access to the central Business district and sofia international airport• good access by public transportation• each building has direct access to the underground garage and storage facilities• contemporary building management systems and property management• key tenants: vivacom, alcatel-Lucent, samsung, special

events Group, call point new europe, inditex

serdika oFFiCeswww.serdika–offices.com

sofia’s Broad center, sitnyakovo Blvd.TBa 35,000 sqmGLa 28,000 sqmfloor plate up to 4,000 sqm

• hypermarket, shopping, wellness and entertainment facilities

• bank offices• food court and restaurants in the

shopping area and the office part

underground and open air parking500 parking lots dedicated to the office tower

• a benchmark office center adjacent to the shopping mall• created by a highly–experienced international team of companies• class a office space with contemporary technical specifications• great visibility and quick access to downtown sofia• high optimization of working space, flexibility in partitioning

Business Park soFiawww.businesspark–sofia.com

at the foot of the vitosha mountain, about 20 minutes away from the central Business district in sofia

TBa 300,000 sqm

• bank branches• restaurants, cafés, 15 screens multiplex• pharmacy• copy center and office supply• car service and rental• supermarket• electronic and home

supply hypermarket• holiday inn hotel

4,000 parking spaces

• provides efficiency, flexibility and convenience for corporate tenants• attractive work environment, with abundant

opportunities to relax and find inspiration• good infrastructure • conveniently reachable from all major boulevards

and direct access to the ring road• within a 10 minute drive from the international airport• high level of security

Bulgaria House sofia, close to the crossroad with Todor kableshkov Blvd.

TBa 12,400 sqmGLa 10,500 sqmfloor plate 212 — 2,200 sqm

• Bar & dinner (in the building)• Billa hypermarket within

walking distance• gym within walking distance• number of restaurants and bank

branches within the area

underground parking with 65 parking spaces

• located in one of the most dynamic commercial and residential areas in sofia on Bulgaria Blvd.

• excellent visibility • easy access by foot as well as public and private transportation• convenient underground parking• flexible partitioning

PlaTinuM Business CenTer sofia’s central Business district TBa 8,760 sqmGLa 7,000 sqm

• conference facilities• on–site short term apartment • fitness center• café

available (underground and open–space)

• exceptional design and high quality materials• high level security, state–of–the–art systems and communications• access to a number of amenities• property management• governmental and financial institutions within walking distance• blue chip tenant mix

landMark CenTre Varnavarna, central Business district, in close proximity to the city hall and the sea Garden

TBa 10,500 sqmGLa 6,300 sqmfloor plate 1,200 sqm

• many restaurants, cafés and office supply stores within walking distance

• bank branches and the entire downtown shopping area in close proximity

two–level underground parking with 72 parking spaces

• landmark building with classic architectural design and distinctive exterior• less than 10 minutes away from the international airport• flexible floor areas and efficient accommodation options• convenient parking• property management services

9

Mr.Wachernig,SparkassenImmo-bilienAGhasinvestedinAustria,Germanyandsixcountriesin

CEE.HowdoestheSofiaofficemarketdis-tinguishitselffromtherestofthecities? F.W. we see a high demand in first class office space in sofia over the coming years. although many companies have stopped their expansions or relocations due to the economic situation this year, we are confi-dent that serdika offices will be one of the first projects to benefit from the recovery after the crisis. and that’s what a good investment is about: you have to be ready with your quality project when the market shows demand.

Thepastyearhasshownquitesoftdemandforofficespace,withincreasingvacancy.Fromaninvestor’sperspective,whatistheoutlookfortheofficemarketin2010?F.W. while investors had focused on the relatively stable markets of central europe during the last two years, confidence in southern and eastern europe fell. investors reacted with uncertainty about the region’s economic and property prospects. starting with the first quarter 2010, we have seen

a significant stabilization of office rental levels in sofia and are very confident with our serdika offices as we are on the short-list of every large relocation that is being planned in Bulgaria’s capital within the next months or quarters.

SerdikaOfficeswillbethefirstgenuine

"Be ready with your quality project when the market shows demand"

officeprojectinthearea.Whatwerethedriversinchoosingthislocation?F.W. our project is close to the city centre, one can reach the airport within 15 min-utes and it has very good access via public transportation and car. it is the perfect location for the headquarters of small and medium sized companies. secondly, i would like to highlight the infrastructure of serdika offices. with the serdika center below our tenants will have direct access to more than 210 shops of international and local brands, a large food court, bank branches and over 1,600 parking spaces. as one of the few up-and-coming office projects in sofia, we take part in a green building certification process which will demonstrate the sustainable and efficient aspects of serdika offices.

Whatarethenextmilestonesintheproject?F.W. The display offices will be ready in the third quarter of 2010. The other offices will be designed on request of the respective tenants. By the end of the year, the rest of the building will be completed. ■

Friedrich Wachernig,Member of the Board of directors of sparkassen immobilien ag

10

Mr.Petrov,ifyouaretodescribethemaincompetitiveadvan-tagesofSerdikaOfficesinafew

words,whatwouldtheybe?M.P. serdika offices has three key advan-tages; The location. situated on sitnyakovo Boulevard, less than 2 km from the city cen-tre, the project has excellent access by road and public transportation with the tram and trolley line few minutes from the entrance.The specifications. raised floors, sus-pended ceilings, a 4-pipe fan coil system for heating and cooling are just some of the standards throughout serdika offices, where building management systems and sophisticated access control ensures a safe and efficient work place.The amenities. The proximity to serdika center shopping mall enables access to multiple amenities such as restaurants, food court, bank branches, mobile, compu-ter and stationary shops etc. medical facili-ties are also available in the neighborhood, with a post office within 5 minutes walk.

WhatcompanieswouldbeinterestedinmovingtheirofficetoSerdikaOffices?M.P. serdika offices has offices ranging from 200 sqm up to 4,000 sqm on a single

floor. This makes it an excellent solution for small and medium-sized companies.

Whichadditionalbenefitswilltheofficebuildingoffertoitstenants?M.P. Besides what i have mentioned before, i would like to emphasize the ample parking. The serdika complex features a to-tal of 1,600 car parking spaces distributed on three floors. with surface parking on the central reception level, it is very convenient

"Serdika Offices offers everything a contemporary company needs"

for visitors and employees alike to arrive by car to serdika offices.

WhataretheenergyefficiencyfeaturesofSerdikaOffices?M.P. serdika offices is designed with green and energy efficiency aspects. The occupancy comfort and higher productivity are secured by the natural daylight, green roof, natural ventilation under the condi-tion of operable windows, as well as smart property management.The rectangular shape of the building with atrium and narrow building depth allows two benefits: optimization of the daylight and potential for natural ventilation in interior spaces.The green roof makes this building more environmentally friendly in terms of storm-water retention and solar reflectance. due to the bigger size of the green roof area, the building provides opportunity for enhanced stormwater management and water quality, as well as absorbing pollutants and co2.serdika offices is currently the only office building in Bulgaria with double layer facades. The windows and the shadings have double pane glazing on the inside and laminated safety glass on the outside. This type of windows provides better energy efficiency performance. They are operable and provide opportunity for cross ventilation and thus increasing naturally the amount of fresh air in the building. The auto shading devises can greatly improve occupant com-fort by shading from heat and glare. ■

Milen PetrovManaging director of immorent Bulgaria

colliers magazine 11landmarkofficeproject

BenCHMark Business CenTerlocationlayoutfloor Plate SizerentAvailability

Tsarigradsko shousse Blvd.open space260 — 3,600 sqm 10 euro/sqmTenant ready

Benchmark Business center is a landmark building with distinctive design and visibility. The project is providing class a office space in close proximity to the sofia international airport and is 15 min away from cBd. The building offers two–level underground and open–air parking with a total of 400 parking spaces. There is accommodation and fine dining near by, two on–site restaurants and conference facility next to the project. office premises available vary in size between 260 and 3,600 sqm. high class of building systems and quality finishes are provided. dB

Brussels CenTerlocationlayoutfloor Plate SizerentAvailability

Brussels Blvd.open space1,300 sqm10 euro/sqmq4 2010

Brussels center is situated in the vicinity of sofia airport, on Brussels Blvd. The future complex includes two office buildings and a business hotel. Brussels center is a contemporary multifunctional complex, which combines good loca-tion, great visibility, fast connectivity to the city centre and sufficient amenities on spot, including conference centre, hotel, restaurants and showrooms. Brus-sels center will be open for tenants and visitors in december 2010. vG

iZTok ToWerlocationlayoutfloor Plate SizerentAvailability

G.m. dimitrov Blvd.open space1,100 sqm10 euro/sqmTenant ready

iztok Tower is a class a office building conveniently located on G.m.dimitrov Blvd. The development features contemporary high–standard finishes and building systems and allows functional workspace distribution. parking spaces are avail-able for tenants in the building and accross the street. The easy access to one of the main traffic arteries in sofia–Tsarigradsko shousse Blvd., and the good ac-cessibility by public transportation are important factors when considering iztok Tower as a possible location for your office. dB

CoMPlex TerMinallocationlayoutfloor Plate SizerentAvailability

vladimir vazov Blvd.open space400 — 650 sqm6 euro/sqmTenant ready

The multifunctional complex Terminal is located 3 km away from the sofia downtown area. it has good transport communication to the ring road and the main traffic arteries to varna and Burgas. The project comprises show rooms, hotel and on — site restaurant, underground and open air parking. The office part provides a high quality finishing works including suspended ceilings and a central hvac system. Gu

aVi Business CenTerlocationlayoutfloor Plate SizerentAvailability

Tsarigradsko shousse Blvd.open space500 sqm11 euro/sqmTenant ready

avi Business center is an office building located on Tsarigradsko shousse Blvd. The project features high visibility and is in close proximity to the city center, the airport and Business park sofia. avi Business center has modern building sys-tems, open–space floor plan and competitive rent levels. underground parking lots are availabe. vG

oFFiCe Building locationlayoutfloor Plate SizerentAvailability

sitnyakovo Blvd.partitioned700 sqm8 euro/sqmTenant ready

This office building is located on sinyakovo Blvd. only 5–10 minutes away from the center of sofia by private and public transportation. The project offers office areas approximately from 30 sqm up to 400 sqm. open–air parking lots are available. vG

colliers magazine12 officeofferssofiamainboulevards

HigH TeCH easTlocationlayoutfloor Plate SizerentSales PriceAvailability

Tsarigradsko shousse Blvd.open space 9,180 sqm8 euro/sqm1,000 euro/sqmTenant ready

The project high Tech east is located on Tsarigradsko shousse in the area of the 7th kilometer. it carries the characteristics of a research and development building, featuring large open — space floor plates, exceptional weight loads and heavy duty elevator. with attractive rent and sales price levels and good com-munication and visibility, high Tech east represents a suitable office solutions for clients with corporate needs. Gu

Florida oFFiCe Buildinglocationlayoutfloor Plate SizerentAvailability

Geshov Blvd.partitioned310 sqm8 euro/sqmTenant ready

florida office Building is located in proximity to the city center on the corner of felitz kanitz str. and Geshov Blvd. it features easy access by public transport and good visibility. The building has suspended ceilings, 2-pipe hvac system, 24-hour physical security and video surveillance. The offered office premises vary in size between 70 and 1,200 sqm. parking lots are available. dB

oFFiCe CenTer Mandarinlocationlayoutfloor Plate SizerentAvailability

nikola vaptzarov Blvd.open space633 sqm — 917 sqm10.5 euro/sqmTenant ready

office center mandarin is a modern and functional commercial class a building, designed to provide contemporary solutions for efficient office space usage, quality of construction and technical facilities. The development features a high level of security, category 7 cabling and high standards of finishing works. in close proximity to the central Business district and the airport, the development is now fully operational. Gu

MaTrix ToWer

locationlayoutfloor Plate SizerentAvailability

ring roadopen space600 sqm10 euro/sqmTenant ready

matrix Tower is an office building located at the entrance of residential park sofia opposite Business park sofia and in close proximity to the planned metro station. it features 4,000 sqm office and retail space with high quality of finishes and building systems and is characterized by relatively good ratio of under-ground and open parking spaces. amongst the key benefits of the building are the option for short–term lease and the excellent value for money proposition. vG

kaMBaniTe Business CenTer


Brussels Blvd.open space1,300 sqm10 euro/sqmq4 2010

kambanite Business center is one of the upcoming office locations near Business park sofia, across the ring road. it is a class a office development with maximum available floor plan of 1,100 sqm. The building is 50% occupied and tenant–ready. The tenants of this office building will have the opportunity to use all the amenities on the ground–retail floor. The building features modern building systems, flexibility of the space and sufficient number of parking lots. The main strength of kambanite Business center is the great visibility and easy access by car and public transport. vG

soFia Business CenTre

location

layoutfloor Plate SizerentAvailability

Business park sofia areaopen space3,900 sqm8 euro/sqmTenant ready

sofia Business centre is located on the ring road, just across from Business park sofia. The building features contemporary state–of–the–art systems, which would meet highest standards for office space. sBc is easily accessible and offers a suf-ficient number of parking lots. among the main advantages of this class a office development are the big, open space floor plates of approximately 3,900 sqm, ap-propriate for the corporate needs of large tenants as well as the high visibility. dB

alFa Business CenTer

locationlayout floor Plate Sizerent

Availability

ring roadopen space1,240 sqm6 euro/sqm (1 euro/sqm for first year) Tenant ready

alfa Business center is located on the ring road in close proximity to Business park sofia. The project’s total built–up area is 15,812 sqm. The class a office premises offer with great flexibility thanks to the building’s large footprint, the open space layout and the high level of finishing works. alfa Business center features amenities such as cafeteria and a restaurant. The project, behind which stands a very experienced developer, has a very communicative location. dB

13

BusinessParkSofiaArea

check more opportunities onwww.offices.colliers.bg

7M Building locationlayoutfloor Plate SizerentAvailability

centerpartitioned292 sqm10 euro/sqmTenant ready

7m building is an office building with prime downtown location. The property has a frontage to fritiof nansen Blvd. and faces the national palace of culture. it fea-tures excellent visibility and accessibility, modern architecture and design. The building has all the necessary telecommunications infrastructure with computer cabling and network, telephone lines, as well as central air conditioning and controlled access to the floors. vG

CrysTal Business CenTerlocationlayoutfloor Plate SizerentAvailability

Todor alexandrov Blvd.open space500 — 700 sqm8.5 euro/sqmTenant ready

crystal Business center is a class a building located in downtown sofia on Todor alexandrov Blvd. and osogovo str. The project features modern design with up to 8,000 sqm of open layout office space, contemporary building systems, includ-ing Bms and state–of–the–art finishes. for a building located in central sofia, crystal Business center offers the luxury of 86 underground parking lots and more space across the street. dB

soFia ToWerlocationlayoutfloor Plate SizerentAvailability

stamboliiski Blvd./opalchenska str.open space490 sqm14.5 euro/sqmTenant ready

sofia Tower offers five floors of modern office space, operated as an independent part of the first shopping and entertainment center in the country — mall of sofia. The concept and design of this landmark building unites more than 70,000 sqm of shopping, entertainment and office space. This combination provides office ten-ants with all the benefits of multiple business services, conference facilities, cozy cafés, restaurants and fitness center in close proximity to their corporate offices. Gu

Business CenTer doVerie

locationlayoutfloor Plate SizeAvailability

Tintyava str.open space1000 sqmTenant ready

Business center doverie is located on Tintyava str. in close proximity to Tsarigrad-sko shousse Blvd., which is one of the main traffic arteries connecting the subur-ban areas with the center of sofia. The office building features excellent visibility, modern architecture and easy access on foot, by public transport or by car. The flexible layout and modern building systems are its main advantages.

oFFiCe Building


5 verila str.open space220 — 260 sqm11 euro/sqmTenant ready

Located in the cBd, near the national palace of culture, this administrative building offers easy access and convenience. it has reception on ground level and 3 office floors with floor plates between 220–260 sqm. The building fea-tures high–quality finishing works as well as video surveillance for the common and access control to the office areas. vG

adMinisTraTiVe Building on giuesHeVo sTr.


14 Giueshevo str.open space700 sqm9 euro/sqmq4 2010

This administrative office building is located in a quiet area with central location, in close proximity to mall of sofia. The building features high quality finishing works and building systems, open–space floor plan at attractive rent levels. 32 underground and 40 open air parking lots are available for the tenants. kh/Gu

oFFiCe Building


Totleben Blvd.open space173 — 286 sqm8 euro/sqmTenant ready

The project features a new office building with central location and very good visibil-ity on Totleben Blvd., as well as accessibility to major traffic arteries in sofia. it offers flexible office layouts at competitive rent levels, providing good value for money. vG

oFFiCe Building

location

layoutfloor Plate SizerentAvailability

national palace of culture areaopen space350 sqm12 euro/sqmTenant ready

Located in the center of sofia, next to the national palace of culture, this ad-ministrative building provides very good visibility and accessibility for corporate headquarters. it features excellent finishing works with high — quality materials. small storage facilities are available on the underground floor. vG

colliers magazine14 officeoffersbroadcenter/CBD

esTe HoMe and sPalocationlayoutfloor Plate SizerentAvailability

nikolay haytov str.open space/partitioned413 sqm — 1,276 sqm12 euro/sqmseptember 2010

The office part of este home and spa is located in iztok district. The building of-fers both open space and partitioned layout. one of the main advantages of the building are the 213 underground parking lots available. The building has raised floors, suspended ceilings, computer cabling, telephone lines, ac and ventilation systems. video surveillance and 24/7 physical security for the common parts are provided, along with access control to the office premises. Gu

Business CenTer TZuMlocationlayoutfloor Plate SizerentAvailability

centeropen space3,000 sqm17 euro/sqmTenant ready

Business center Tzum offers exclusive location, high quality of finishing works and exceptional tenant mix. Located in cBd, neighbouring the council of minis-ters and the presidency, Tzum represents a desirable office solution. along with the ac and ventilation systems and high category cabling, the building features 24/7 physical security and video surveillance as well. Gu

Varna ToWers locationlayoutfloor Plate SizerentAvailability

suburban, varnaopen space560 — 700 sqm12 euro/sqmq2 2010

varna Towers is a shopping, entertainment and administrative center located on one of the main crossroads in varna where vladislav varnenchik Blvd. and republika Blvd. meet. The location has good access by private and public transport and it is within 10 min. drive both from the center of varna and varna international airport. The project is the highest business center in varna, offering unmatched visibility. it features two office towers of 12 floors each, class a office space with high quality finishes, flexible floor areas and efficient accommodation options; direct access from the underground parking with 550 parking lots, addi-tional ground parking with 250 parking lots; access to a wide variety of shopping and leisure facilities, restaurants, cafés and a food court.

agroCenTer doBriCHlocationlayoutfloor Plate SizerentAvailability

suburban, varnaopen space560 — 700 sqm12 euro/sqmq2 2010

agrocenter dobrich will be the first specialized agribusiness mall in Bul-garia. it is situated 5 km from the very center of dobrich and 35 km away from varna.The agrocenter will be developed on the main road to dobrich, at the very entrance of the city. This road is a main thoroughfare, connecting the town to the other cities in north–east Bulgaria. agrocenter dobrich is designed as a unique retail complex, a venue for local and foreign agricultural com-panies. it will offer retail units, offices and warehouses under one roof. The total leasable area, allocated on two floors, will exceed 10,000 sqm. The shops size varies from 50 to 400 sqm, as showrooms with outdoor exhibition area will be available on the ground floor. The retail section will also accommodate a restaurant, a café and a gym. The business function of the complex, complemented by a conference room with 250 seats, will turn it into a perfect place where exhibitions can be held. The agribusi-ness mall will be serviced by 240 parking lots.

Business Park Varna locationlayoutfloor Plate SizerentAvailability

suburban, varnaopen spaceapprox. 2,000 sqmoffice space — 12 euro/sqm; retail space — 15 euro/sqm Tenant ready

Business park varna is a complex of 9 class–a office and multifunctional build-ings. The unique location of Business park varna provides easy accessibility, con-venience and flexibility to corporate tenants. Businesses can benefit from open–space offices, warehouses and retail space, as well as from an infinite number of services. Business park varna offers high–class communication network, 4–pipe hvac system with individual temperature control, independent electrical supply system and property management services. Building 8 is the third building that is already open and offers office and retail space for rent.

15check more opportunities onwww.offices.colliers.bg

Varnaarea

broadcenter/CBD

PrOject nAme lOcAtiOn Size tyPeS technicAl SPecificAtiOnS AdditiOnAl SPAceS infrAStructure ServiceS PrOvided

logisTiCs Park Varnawww.logisticspark–varna.com

varna, vladislav varnenchik Blvd.,10 minutes drive from varna’s seaport, international airport, central train station and city center

132,000 sqm land plot120,000 sqm TBa allocated in 10 buildings

warehouse/office space/showrooms for rent

• 10 meters clear height of the warehouse premises

• technological docking doors• loading bays• column spacing of 12 by 25 meters• truck maneuvering space• fire detection and sprinkler system

office units/ showroomselectricity, water, sewage, gas, telephone cabling, public transport

24/7 physical security, video surveillance, maintenance of the rented and surrounding premises

uniVersal logisTiCs

sofia entrance from Trakia highway, in close proximity to the crossroads of Tsarigradsko shousse Bldv. and the ring road

69,000 sqm land plot37,000 sqm TBa

warehouse/office space for rent/for sale

• 10 meters clear height• grinded concrete floors• thermo isolated sandwich

panels — 7 cm• hydraulic loading bays — 1,20 m height• parking space for cars and trucks

office units

situated close to 3 Trans–european corridors; excellent accessibility to air cargo traffic– sofia airport is 8 km away from the project

24/7 physical security, access control, maintenance of the common areas, road maintenance, etc.

sTad logisTiCs CenTer

sofia ring–road at the kazichene region, between the hemus and Trakia highway

5,740 sqm TBa warehouse/office space/showrooms for rent

• 12 meters clear height• grinded concrete floors• 4 hydraulic loading bays • hydraulic elevators• raised, noise–isolated floors • suspended ceilings • elegant and modern

suspended glass facade• underground parking

office units/showrooms

automatic fire detection and extinguishing system, back–up power supply by a powerful generator, central air–conditioning and ventilation, telephone and internet access

24–hour digital security system, combined with physical security, video–surveillance system, security access control, property management

TranskaPiTal sofia city, located on Botevgradsko shosse

normal warehous-es 40,000 sqm3000 pallet places with temperature control 12,000 sqm offices

ambient warehouse and ware-house with temperature control for rent/ rental of pallet places with logistics services/ offices

• industrial freezer — temperatures from –18 to –20

• height: 9–12 m• hydraulic ramps with levellers• access for big trucks• thermoinsulation: 6 cm• heat insulation: 10 cm

officeselectricity — double electri-cal supply, water, hvac, tel-ephone and internet access

24/7 physical security and video surveillance; reception; possibility for access control; mainte-nance of common areas

Trade CenTer euroPebuilding 15

sofia, near the sofia airport area, on iskarsko shosse

6,000 sqm — ware-house on 3 levels4,000 sqm — offices

warehouses and offices for rent• warehouses: height 5,50 m

on –1 level and on ground level• loading position

offices

bank office, customs office, parking areas, car wash, res-taurants, fitness center, avail-ability of city transport

facility management: 24/7 physical security and video surveillance; maintenance of common areas; possi-bility for access control;

ZMM — soFia The northwestern part of sofia, near voenna rampa

12,000 sqm TBalocated on 2 floorsof 6,000 sqm each — divisible space

warehouse/office space for rent

• ample maneuvering space • 5 meters clear height• grinded concrete floor• loading position — ground level freight

elevator with loading capacity of 2 tons• loading capacity of the second

floor — 1 ton/sqm• parking space for trucks and cars

office units

railway tracks in very close proximity to the warehouse building; sewage, water, and electricity

24/7 physical security, maintenance of common areas, access control

colliers magazine16 logistics&industrialprojects

17


logisTiCs Park Varnawww.logisticspark–varna.com

varna, vladislav varnenchik Blvd.,10 minutes drive from varna’s seaport, international airport, central train station and city center

132,000 sqm land plot120,000 sqm TBa allocated in 10 buildings

warehouse/office space/showrooms for rent

• 10 meters clear height of the warehouse premises

• technological docking doors• loading bays• column spacing of 12 by 25 meters• truck maneuvering space• fire detection and sprinkler system

office units/ showroomselectricity, water, sewage, gas, telephone cabling, public transport

24/7 physical security, video surveillance, maintenance of the rented and surrounding premises

uniVersal logisTiCs

sofia entrance from Trakia highway, in close proximity to the crossroads of Tsarigradsko shousse Bldv. and the ring road

69,000 sqm land plot37,000 sqm TBa

warehouse/office space for rent/for sale

• 10 meters clear height• grinded concrete floors• thermo isolated sandwich

panels — 7 cm• hydraulic loading bays — 1,20 m height• parking space for cars and trucks

office units

situated close to 3 Trans–european corridors; excellent accessibility to air cargo traffic– sofia airport is 8 km away from the project


sTad logisTiCs CenTer

sofia ring–road at the kazichene region, between the hemus and Trakia highway

5,740 sqm TBa warehouse/office space/showrooms for rent

• 12 meters clear height• grinded concrete floors• 4 hydraulic loading bays • hydraulic elevators• raised, noise–isolated floors • suspended ceilings • elegant and modern

suspended glass facade• underground parking

office units/showrooms

automatic fire detection and extinguishing system, back–up power supply by a powerful generator, central air–conditioning and ventilation, telephone and internet access

24–hour digital security system, combined with physical security, video–surveillance system, security access control, property management

TranskaPiTal sofia city, located on Botevgradsko shosse

normal warehous-es 40,000 sqm3000 pallet places with temperature control 12,000 sqm offices

ambient warehouse and ware-house with temperature control for rent/ rental of pallet places with logistics services/ offices

• industrial freezer — temperatures from –18 to –20

• height: 9–12 m• hydraulic ramps with levellers• access for big trucks• thermoinsulation: 6 cm• heat insulation: 10 cm

officeselectricity — double electri-cal supply, water, hvac, tel-ephone and internet access

24/7 physical security and video surveillance; reception; possibility for access control; mainte-nance of common areas

Trade CenTer euroPebuilding 15

sofia, near the sofia airport area, on iskarsko shosse

6,000 sqm — ware-house on 3 levels4,000 sqm — offices

warehouses and offices for rent• warehouses: height 5,50 m

on –1 level and on ground level• loading position

offices

bank office, customs office, parking areas, car wash, res-taurants, fitness center, avail-ability of city transport

facility management: 24/7 physical security and video surveillance; maintenance of common areas; possi-bility for access control;

ZMM — soFia The northwestern part of sofia, near voenna rampa

12,000 sqm TBalocated on 2 floorsof 6,000 sqm each — divisible space

warehouse/office space for rent

• ample maneuvering space • 5 meters clear height• grinded concrete floor• loading position — ground level freight

elevator with loading capacity of 2 tons• loading capacity of the second

floor — 1 ton/sqm• parking space for trucks and cars

office units

railway tracks in very close proximity to the warehouse building; sewage, water, and electricity

24/7 physical security, maintenance of common areas, access control

continues on next page ►

17


logisTiCs ParkVedea

sofia region, town of Bozhurishte, 15 km from the center of sofia, close proximity to the ring road

Land plot of approximately 15,000 sqm7,000 sqm of built–up area

• warehouses for rent

• height: 5 m• possibility for construction of small

indoor office units and toilets• loading position — ground level

office unitselectricity, water, sewage, pos-sibility for gas, telephone and internet access, rail access

24/7 physical security and video surveillance; possi-bility for access control

axxon logisTiCs and Business CenTer

sofia, western industrial zonev8000 sqm — warehouse building; 5600 sqm — office building

• warehouse and offices for rent (rental of pallet places with logistics services)

• warehouse — 11m height• Loading position — ground level, ramp• insullation• fire alarm system, sprinklers,

gas heating;

offices, reception, meet-ing rooms, restaurant;

electricity, water, sewage, gas, internet and telephone access

24/7 physical security and video surveillance; recep-tion; possibility for access control; maintenance of common areas; restaurant and bus shuttle for the personnel of the complex;

uniVegsofia region, municipality of musachevo, near elin pelin, eastwards of sofia

19,000 sqm — land plot 8,000 sqm — built–up area

• warehouses for rent– with temperature control + normal

• offices and social areas• rental of pallet places

with logistics services

• temperatures from –20 to +12 ;• 24 loading docks +1 ground level door

concrete loading dock area of 1900 sqm, surrounding asphalt, car park and green areas



MariTsa indusTrial Zone

plovdiv region, between Trakia highway and the western arc of plovdiv ring road

7,300 sqm TBa • warehouse• office space for rent

• 5 meters clear height• grinded concrete floors• hydraulic loading bays• sprinkler systems• 5 tons/sqm floor loading capacity

office units

high–power electric supply, large–volume water supplies, sewage, waste water treatment, high–volume gas lines, hvac


indusTrial Park soFia easT Bu

ilT-

To-s

uiT

sofia region, elin pelin municipality, 13 km highway drive from sofia 700,000 sqm land plot

• built–to–suit solutions — spaces available for rent with specialized facility requirements

• zoned land plots for sale offered with a turnkey development option

• loading docks with hydraulic levelers• cross–docking–ready design• large column spacing of 24 by 18 meters• ample truck maneuvering space• fire detection and sprinkler system

optional electricity, water, sewage, gas24/7 physical security, maintenance of common areas, access control, etc.

CenTral disTriBuTion Park Bu

ilT-

To-s

uiT

western arc of plovdiv ring road, only 6 km from the city center of plovdiv

100,000 sqm land plot



• 5 meters clear height• hydraulic loading bays• grinded concrete floors• sprinkler systems• 5 tons/sqm loading capacity• telephone lines• high–speed internet access

optional electricity, water, sewage, gas

24/7 physical security, access control, maintenance of common areas, etc.

PJ logisTiCs

Buil

T-To

-sui

T pj Logistics project is situated near rakovski industrial Zone (17 km away from plovdiv), only 2.5 km to kaufland central distribution facility.

240 000 sqm land plot



• various built-to-suit options and turn-key solutions:

• ambient warehouse• flex buildings• production facilities• distribution facilities• high tech buildings



colliers magazine18 logistics&industrialprojects


logisTiCs ParkVedea

sofia region, town of Bozhurishte, 15 km from the center of sofia, close proximity to the ring road

Land plot of approximately 15,000 sqm7,000 sqm of built–up area

• warehouses for rent

• height: 5 m• possibility for construction of small

indoor office units and toilets• loading position — ground level

office unitselectricity, water, sewage, pos-sibility for gas, telephone and internet access, rail access


axxon logisTiCs and Business CenTer

sofia, western industrial zonev8000 sqm — warehouse building; 5600 sqm — office building

• warehouse and offices for rent (rental of pallet places with logistics services)

• warehouse — 11m height• Loading position — ground level, ramp• insullation• fire alarm system, sprinklers,

gas heating;

offices, reception, meet-ing rooms, restaurant;


24/7 physical security and video surveillance; recep-tion; possibility for access control; maintenance of common areas; restaurant and bus shuttle for the personnel of the complex;

uniVegsofia region, municipality of musachevo, near elin pelin, eastwards of sofia

19,000 sqm — land plot 8,000 sqm — built–up area

• warehouses for rent– with temperature control + normal

• offices and social areas• rental of pallet places

with logistics services

• temperatures from –20 to +12 ;• 24 loading docks +1 ground level door

concrete loading dock area of 1900 sqm, surrounding asphalt, car park and green areas



MariTsa indusTrial Zone

plovdiv region, between Trakia highway and the western arc of plovdiv ring road

7,300 sqm TBa • warehouse• office space for rent

• 5 meters clear height• grinded concrete floors• hydraulic loading bays• sprinkler systems• 5 tons/sqm floor loading capacity

office units

high–power electric supply, large–volume water supplies, sewage, waste water treatment, high–volume gas lines, hvac


indusTrial Park soFia easT Bu

ilT-

To-s

uiT

sofia region, elin pelin municipality, 13 km highway drive from sofia 700,000 sqm land plot



• loading docks with hydraulic levelers• cross–docking–ready design• large column spacing of 24 by 18 meters• ample truck maneuvering space• fire detection and sprinkler system

optional electricity, water, sewage, gas24/7 physical security, maintenance of common areas, access control, etc.

CenTral disTriBuTion Park Bu

ilT-

To-s

uiT

western arc of plovdiv ring road, only 6 km from the city center of plovdiv

100,000 sqm land plot



• 5 meters clear height• hydraulic loading bays• grinded concrete floors• sprinkler systems• 5 tons/sqm loading capacity• telephone lines• high–speed internet access



PJ logisTiCs

Buil

T-To

-sui

T pj Logistics project is situated near rakovski industrial Zone (17 km away from plovdiv), only 2.5 km to kaufland central distribution facility.

240 000 sqm land plot



• various built-to-suit options and turn-key solutions:

• ambient warehouse• flex buildings• production facilities• distribution facilities• high tech buildings



19

* Colliers international’s inaugural global investor sentiment survey is compiled from 244 major institu-tional and private global investors with a total investment portfolio exceeding $300 billion

Mr.Kirov,accordingtoColliersInternational’sGlobalInvestorSentimentSurveyrealestate

investorsseemarketreadytorebound.Doesthismeanthatwecananticipatethatinvestorswilleventuallybecomemoreactivethisyear?G.K. investors clearly see the market reset-ting and about to enter the next upward cy-cle. respondents view some of the regions, i.e. Latin america and the pacific region as already on the upswing. The usa and asia were viewed as at the market’s bottom, while the middle east, canada, eastern and western europe were all still viewed as in the down part of the cycle but respondents believe that most of these areas of the world will be in various stages of the “up” phase of the market in the next 12 months.This is one of the main reasons why the majority of the respondents expressed a relatively high degree of optimism on the overall global economy and state of the real estate market. about two thirds from the re-spondent have expressed a wish to expand their property portfolios, leaving just under a third either holding steady or rebalancing their existing ones. There appears to be

a genuine feeling that despite a challeng-ing economic backdrop, real estate prices today represent good value, and many are willing to look past what could be a difficult period in terms of rents and vacancies and to better times down the road. however, the majority of the investors (par-ticularly those in usa, canada, Germany and australia) are showing little appetite for cross-border investments and are predomi-nantly interested in their domestic markets. so far, although a majority of the inves-tors have positive outlook on the market development, they are still cautious, highly selective and risk adverse.

HowwouldyouassessthedevelopmentoftheBulgarianinvestmentmarketduringthelastfewmonths?G.K. This market segment was amongst the first ones that reacted to the global financial downturn back in 2008. The number of the investment transactions and the availability of capital became much lower, combined with an increasing supply of real estate properties, many of which listed for sale. There was practically no demand as many investment funds backed

out and temporarily froze up their activities and access to debt financing was greatly reduced. it is worth noting that Bulgaria, as most of other countries from eastern europe, entered the downward trend much later than other markets like north and south america, asia and australia. This is a rea-son why the position outlook for eastern eu-ropean market supposes a later come-out of this cycle but this does not mean that the period will be longer. although it is still early to forecast too posi-tive development of the Bulgarian invest-ment market during the next 12 months, now is the right moment to invest as this might bring a good return on investment. This relates to sellers as well and although they might get a lower price for an asset new, they could buy more with the money they take out from the sale.

Duetotheglobalfinancialdownturn,thesellingpriceofmanypropertieshasgonedown.Isn’tthisoneofthedriversthatwouldeventuallyprovokeinvestors’interestin2010?G.K. The lower price is not enough to at-

investors clearly see the market resetting and about to enter the next upward cycle

real estate investors worldwide are painting a more optimis-tic picture of the market, with many convinced that the next up cycle will begin in the year ahead. That optimism is reflect-ed by two out of three respond-ents to colliers international’s 2010 Global investor sentiment survey . we asked Georgi kirov, director investment and corpo-rate advisory services at col-liers international to share with us the main conclusions from the survey and give a snapshot of the investment market in Bulgaria and globally.

colliers magazine20 investments

georgi kirov,director investment and

Corporate advisory services at Colliers international

tract an investor in any market. The reason is that when an investor buys a commercial property that generates income at a lower price, this means that this property might become less profitable and investors won’t get the desired yields. in fact, price stability is much more important than just the low price. currently most investors have little appetite for risk - whether it is a prime location, a quality building with secured income, or more macroeconomic factors like local currency and political stability. furthermore, although financing conditions have eased, financing for high-value deals remains difficult to obtain and there has been very little speculative buying in the past two years.we observe a shifting preference towards high-quality and income-producing proper-ties. non-prime properties are generally changing hands at market values below their appraisal value as only a handful of in-vestors are interested in these assets. There is virtually no market for properties that are either unlet, in need of improvement or that have high levels of tenant risk. ■

a majority of respondents believe the market is at or near bottom and the largest two groups, and 41% see the market between five and six o’clock on the “global Property Clock” but see markets ready to rebound within the next 12 months.

The clock equates market cycles to specific times, with 12 o’clock representing the top of the market and six o’clock representing the bottom. each six-hour period in between designates rising (after 6:00, to 12:00) or “declining” (after 12:00, to 6:00) cycles.

TrouGh TrouGh

5:00

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inG

upsw

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10

9

8

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5

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Property markets nearing the bottom and are expected still be on the downward leg of the cycle one year from now.

current cycle cycle in 12 monthsProperty markets nearing the bottom and are expected to be showing signs of recovery one year from now.

Property markets are at or near the bottom and are expected to be showing signs of recovery one year from now.

usa

eastern europe

Western europe

21

PrOject nAme lOcAtiOn Size /GlA/ tOtAl cAtchment AreA PArkinG develOPer deScriPtiOn cOmPletiOn dAte

Park Mallwww.parkmall — sz.com

park mall is located on a main traffic artery in the eastern part of the city with excellent access to the ring road and Trakia highway, which connects sofia with the Black sea coast.

19,500 sqm more than 650,000 potential clients within an hour’s drive

more than 1,000 park-ing spaces alexandra Group

park mall is the first mall in the region of stara Zagora — an area of rapid development in recent years. The re-gion is very dynamic and continues to attract significant foreign investment. more than 110 retail and entertain-ment units, along with restaurants, food court and children’s playground complete the experience for both cus-tomers from the region and travelers passing through the city. in addition to piccadilly supermarket and arena cinema, park mall includes brands like reserved, mango, Terranova, calliope, kenvelo, xyZ, sprider, kfc, mcdonalds and costa café. property management services provided by colliers international.

operaTionaL

the Mallwww.themall.bg

sofia,Tsarigradsko shousse Blvd. 66,000 sqm

more than 2,000,000 people within10 km. drive

over 2,700 park-ing spaces; easy ac-cessibility by public transportation

assos capital/investor/

The carrefour Tsarigradsko mall project is designed to be a shopping destination for the entire region, featuring more than 200 retail shops and introducing new,international brands to the market. The 14,000 sqm carrefour hypermarket anchoring the shopping mall will be the first in sofia and the largest in the country. arena cinema, Gap, sephora, esprit, peek & cloppenburg, humanic, Zara, Bershka, stradivarius, pull and Bear and massimo dutti (for the first time on the Bulgarian market) are among the key tenants.property management services provided by colliers international.

operaTionaL

Grand Mallwww.grandmall — varna.com

varna, intersection of vladislav varnenchik Blvd. and andrei saharov str.

52,000 sqm 600,000 people within less than an hour’s drive

more than 1,700 park-ing spaces — two un-derground levels plus deck–parking building

orchid developments Group Ltd.

Grand mall in varna offers high visibility and excellent accessibility by car and public transportation. The mall is anchored by a carrefour hypermarket, inditex Group brands — Zara, Bershka, stradivarius, pull and Bear, mango, intersport, humanic, douglas and arena cinema.property management services provided by colliers international.

operaTionaL

City MallStara ZaGora

stara Zagora,nikola petkov Blvd. 24,500 sqm 640,000 people within an

hour’s drive

1,300 parking places on two underground levels plus parking on top

evrobuild Ltd.

city mall stara Zagora will represent a shopping mall development, anchored by a carrefour hypermarket and re-tail section accommodating more than 80 retail units, food court and restaurants. The project is situated within5 minutes drive from downtown and will be serviced by an open–air parking and two underground parking levels.

2011

Grand PlaZa rouSSewww.grandplaza.bg

rousse, Lipnik Blvd. and Tzar osvioboditel Blvd. 37,500 sqm 2,6 million people within one

hour’s drive 1,000 parking spaces proekt ruse ad

Grand plaza is a modern international–style shopping center, enjoying an excellent downtown location at the crossroads of two major boulevards in the center of rousse. it is designed as a unique mixed–use complex,offering the combination of a shopping center, a sports hall, a hotel and an office facility in one single location.it will feature a carrefour hypermarket of 9,300 sqm, and more than 120 retail stores of varied tenant mix.property management services provided by colliers international.

2011

Mall Plevenwww.mallpleven.bg

pleven, sofia Blvd.,mindilikov square 17,500 sqm 850,000 people within an

hour’s drive400 parking places on two underground levels aladin eood

mall pleven is the first and largest shopping mall of this type and concept in the region, located in the downtown area of pleven. The strong tenant mix includes both international brands, which will be introduced for the first time in pleven, and successful Bulgarian retailers and entertainment operators The total built–up area, which will exceed 47,000 sqm, will include a carrefour supermarket, retail shops, and an entertainment section.property management services provided by colliers international.

sprinG 2011

BulGaria Mallwww.bulgariamall.bg

sofia, intersection of Bulgaria Blvd. and Todor kableshkov Blvd.

33,000 sqm exceeds 2,000,000 people within 10 km. drive

more than 1,100 park-ing places on 4 under-ground levels

London sofia properties and salamanca capital

in close proximity to the downtown of sofia, Bulgaria mall has an excellent location at the intersection of two main boulevards near some of the most attractive residential neighbourhoods in the capital. The shopping center will represent medium to premium international and local brands. The diverse tenant mix includes re-tail brands such as carrefour hypermarket, Technomarket, orange, mango, Tom Tailor, salsa jeans, esprit, marc o`polo and many others. property management services will be provided by colliers international.

2012

Sofia rinG sofia,south ring road 72,000 sqm

more than2,000,000 people within 10 km drive

approximately 2,000 parking spaces

south ring mall sofia ead

The mall will be developed as part of a commercial and residential project. The project will incorporate a shop-ping mall, a business centre, a hotel and an adjacent ikea store with a GLa of 28,000 sqm. The other part to the northern edge of the park will include residential towers and private compounds.

2012

colliers magazine22 retailprojects

PrOject nAme lOcAtiOn Size /GlA/ tOtAl cAtchment AreA PArkinG develOPer deScriPtiOn cOmPletiOn dAte

Park Mallwww.parkmall — sz.com

park mall is located on a main traffic artery in the eastern part of the city with excellent access to the ring road and Trakia highway, which connects sofia with the Black sea coast.

19,500 sqm more than 650,000 potential clients within an hour’s drive

more than 1,000 park-ing spaces alexandra Group

park mall is the first mall in the region of stara Zagora — an area of rapid development in recent years. The re-gion is very dynamic and continues to attract significant foreign investment. more than 110 retail and entertain-ment units, along with restaurants, food court and children’s playground complete the experience for both cus-tomers from the region and travelers passing through the city. in addition to piccadilly supermarket and arena cinema, park mall includes brands like reserved, mango, Terranova, calliope, kenvelo, xyZ, sprider, kfc, mcdonalds and costa café. property management services provided by colliers international.

operaTionaL

the Mallwww.themall.bg

sofia,Tsarigradsko shousse Blvd. 66,000 sqm

more than 2,000,000 people within10 km. drive

over 2,700 park-ing spaces; easy ac-cessibility by public transportation

assos capital/investor/

The carrefour Tsarigradsko mall project is designed to be a shopping destination for the entire region, featuring more than 200 retail shops and introducing new,international brands to the market. The 14,000 sqm carrefour hypermarket anchoring the shopping mall will be the first in sofia and the largest in the country. arena cinema, Gap, sephora, esprit, peek & cloppenburg, humanic, Zara, Bershka, stradivarius, pull and Bear and massimo dutti (for the first time on the Bulgarian market) are among the key tenants.property management services provided by colliers international.

operaTionaL

Grand Mallwww.grandmall — varna.com

varna, intersection of vladislav varnenchik Blvd. and andrei saharov str.

52,000 sqm 600,000 people within less than an hour’s drive

more than 1,700 park-ing spaces — two un-derground levels plus deck–parking building

orchid developments Group Ltd.

Grand mall in varna offers high visibility and excellent accessibility by car and public transportation. The mall is anchored by a carrefour hypermarket, inditex Group brands — Zara, Bershka, stradivarius, pull and Bear, mango, intersport, humanic, douglas and arena cinema.property management services provided by colliers international.

operaTionaL

City MallStara ZaGora

stara Zagora,nikola petkov Blvd. 24,500 sqm 640,000 people within an

hour’s drive

1,300 parking places on two underground levels plus parking on top

evrobuild Ltd.

city mall stara Zagora will represent a shopping mall development, anchored by a carrefour hypermarket and re-tail section accommodating more than 80 retail units, food court and restaurants. The project is situated within5 minutes drive from downtown and will be serviced by an open–air parking and two underground parking levels.

2011

Grand PlaZa rouSSewww.grandplaza.bg

rousse, Lipnik Blvd. and Tzar osvioboditel Blvd. 37,500 sqm 2,6 million people within one

hour’s drive 1,000 parking spaces proekt ruse ad

Grand plaza is a modern international–style shopping center, enjoying an excellent downtown location at the crossroads of two major boulevards in the center of rousse. it is designed as a unique mixed–use complex,offering the combination of a shopping center, a sports hall, a hotel and an office facility in one single location.it will feature a carrefour hypermarket of 9,300 sqm, and more than 120 retail stores of varied tenant mix.property management services provided by colliers international.

2011

Mall Plevenwww.mallpleven.bg

pleven, sofia Blvd.,mindilikov square 17,500 sqm 850,000 people within an

hour’s drive400 parking places on two underground levels aladin eood

mall pleven is the first and largest shopping mall of this type and concept in the region, located in the downtown area of pleven. The strong tenant mix includes both international brands, which will be introduced for the first time in pleven, and successful Bulgarian retailers and entertainment operators The total built–up area, which will exceed 47,000 sqm, will include a carrefour supermarket, retail shops, and an entertainment section.property management services provided by colliers international.

sprinG 2011

BulGaria Mallwww.bulgariamall.bg

sofia, intersection of Bulgaria Blvd. and Todor kableshkov Blvd.

33,000 sqm exceeds 2,000,000 people within 10 km. drive

more than 1,100 park-ing places on 4 under-ground levels

London sofia properties and salamanca capital

in close proximity to the downtown of sofia, Bulgaria mall has an excellent location at the intersection of two main boulevards near some of the most attractive residential neighbourhoods in the capital. The shopping center will represent medium to premium international and local brands. The diverse tenant mix includes re-tail brands such as carrefour hypermarket, Technomarket, orange, mango, Tom Tailor, salsa jeans, esprit, marc o`polo and many others. property management services will be provided by colliers international.

2012

Sofia rinG sofia,south ring road 72,000 sqm

more than2,000,000 people within 10 km drive

approximately 2,000 parking spaces

south ring mall sofia ead

The mall will be developed as part of a commercial and residential project. The project will incorporate a shop-ping mall, a business centre, a hotel and an adjacent ikea store with a GLa of 28,000 sqm. The other part to the northern edge of the park will include residential towers and private compounds.

2012

23

Graf ignatiev st. looks like a skewer with urban elements strung on it. The squares, the trams and the stalls alter-nate with fresh mushrooms from the market and faces for whom this is the morning after the night before, spent in

the near-by pubs. The space is picturesque, exotic and tasty.The long and narrow street satisfies the hunger for urban life, but it also “devours” an enormous amount of people. The other streets which cross it systematically feed it with pedestrians. hordes of pas-sers-by wait at the junctures in order to walk past each other upon the command of the traffic lights. after that, long black rows start moving, parallel to the tram lines.This place sucks you down like a funnel. it makes you feel the herd empathy, to brush with the crowd and take in, together with every-body else, the aroma of baked chestnuts.Graf ignatiev st. bears the name of a russian diplomat and states-man. in the past, it was known as samokovska st. because along

it continued the muddy road to the town of samokov. for two years now, the street has been a pedestrian one, and only trams and ab-sent-minded people circulate along it. a successful hybrid between an artery of communication, a commercial area and a social factor. and also a compilation of noise, emotions and visual surprises. Graf ignatiev st. has a specific soundtrack consisting of rhythmically re-peating side streets which cross it, the colonnades of the former de-partment store “valentina”, the clinking of the trams, and the street musicians who try to outcry each other. at first sight, the only inhabitants of that street are young people, old people and booksellers. The junction “popa” is a favourite spot of the young. after 6 o’clock in the evening, bits and pieces of the waiting crowd tear off and sink into the near-by pubs and bars. The old people disappear at approximately the same time. The old women, bent down with age, carefully stow away the boutique amounts of fruits and veg-etables which have been put out for sale on the cardboard boxes. Be-fore they go, we stop in front of them and rediscover what is ecological through several kilos of hip, patiently and lovingly picked somewhere far from the city. The last to vanish are booksellers, after they have carefully stacked their stock in cardboard boxes from bananas. The book market provides calories of culture. and the vegetable mar-ket charges the air with vitamins and makes you compare the cab-bage with the unshaven sellers. while you provide practice for your imagination, the facades of the buildings opposite remain indifferent.

a walk down Graf ignatiev Str.

delcho delchev

photo by Teodora Zareva photo by delcho delchev

Garibaldi square on Graf ignatiev street in sofia was recently upgraded with a new monument of Guiseppe Garibaldi, created by the Bulgarian sculp-tor, Georgi chapkarov. Take a stroll down this iconic street, and allow yourself to get a fresh impression.

24

The article is provided by

simply some decor in front of which a street performance takes place. The squares along Graf ignatiev st. provide rest for our senses, tensed by the crowdedness and the noise. The legs of the horse are to correspond with the colonnade at the other side of Garibaldi sq. The spot in question is the underground zone which is the exact op-posite of the rows of luxurious shops. it has accommodated sellers of socks and panties who go for a quick lunch in the desolate cheese patty (our national “banichka”) shop with a clock. its hands make us hurry to the next square. we enter the bazaars at slaveikov sq., they are like side pockets to the street. rusty stotinki

clink and antiquarian volumes peek from there. when viewed from the neglected patios, slaveikov might seem simply to be “the square with the cafe”, as it was known at the beginning of last century, be-fore it became a book market. we continue further down the street and feel that Graf ignatiev be-comes fully calm in the garden in front of the “sveti sedmochislen-itsi” church. a place of special energy. Before it was reconstructed into a church, the building used to be a mosque. The minarets were erected in over the remains of an old christian temple from 5-6th century and an even older ancient Greek sanctuary. ■

photo by peter Torniov

TwinclocksFive minutes after the first one, the second twin-clock stopped, too.

Death-Cupan anti-fashion shop for different subcultures from all over the world – only a few steps away from the luxuri-ous shop windows in graf ignatiev st.

BooksMore than 12 tons of books are put on the stalls of the book market in slaveikov sq. every day. inquisitiveness or chaos?

Dragonfliesonly people below 18 years of age would notice this metal sculpture in the clouds above slaveikov sq.

colliers magazine 25lifestyle

PrOject nAme lOcAtiOn tyPe And numBer Of unitS Size AmenitieS key BenefitS cOmPletiOn dAte

reSidentiAl PArk SOfiAwww.residentialpark–sofia.com

malinova dolina, above the ring road, on the opposite side of Bps

to be constructed in 3 phases with a to-tal of 700 units to be built. multifamily houses with apartments (1, 2 and 3 bedrooms), row houses and single houses for saLe/renT

completed apartments88 — 159 sqmcompleted row houses195 — 275 sqm

security and controlled access, supermar-ket, playgrounds, fitness and swimming pool, party hall, kinder garden, bank, café, restaurant

a project with a concept, providing safety, comfort and high standard of living for the whole family. very communicative loca-tion, well developed infrastructure. a lot of green areas. family environment. nice view to the mountain and the city. high quality, energy efficient construction materials. property management.

1st phase ready

mOunt viewwww.mountviewsofia.com

vitosha district,next to simeonovsko shousse, just behind maxi complex

2 residential buildings with 120 apartments in total

apartments 54 — 241 sqm

swimming pool and fitness, green areas, children playground, 24 hour security, con-trolled access, property management, un-derground parking

within 15 min. from the city center and 20 min. from sofia inter-national airport. close to the mountain. already completed. high quality finishing works and built–in kitchens with appliances. sports amenities within the complex.

ready

mOuntAin hOuSewww.rashidov.com

simeonovo, next to sky way hotel and simeonovsko shousse

four — floor residential building with 19 apartments and 2 studios

apartmentsand studios68 — 135 sqm

modern architecture, high quality materials, state–of–the–art finishing works of the com-mon areas

at the heart of the mountain, impressive panorama view, very communicative location, experienced developer, comfortable and secure environment with beautiful landscaping

q4 2010 / q1 2011

SOfiA Sky www.sofia–sky.com

The prestigious simeonovo dis-trict, simeonovsko shousse

detached houses, row houses and apartments

detached houses434 sqmrow houses224 — 338 sqmapartments — 79 — 349 sqm

24 hour security, property management, green areas, playgrounds

fully ready for occupancy. close to the mountain and simeonovsko ski lift. Beautiful architecture. wonderful views to the city. spacious private gardens for the ground floor apart-ments. energy efficient design and construction.

ready

vitOShA tuliPwww.vitoshatulip.bg

krastova vada district, close to cherni vruh Blvd.

144 completed luxury apartments, lo-cated in 4 buildings

completed apartments70 — 191 sqm

indoor pool, spa centre — sauna, steam bath, hot tub and fitness

excellent view to the mountain. Beautiful gardens, alleys and rest spots. entertainment and sports facilities. contemporary finish-ing works. professional property management

ready

lAGerA tuliPwww.lageratulip.bg

Lagera district gated residential community, com-prised of 4 modern apartment blocks

apartments36 — 198 sqm

retail areas, underground parking, recrea-tional facilities, children playgrounds, and luxuriant gardens; high — quality installa-tions, video intercom and reinforced doors

excellent location in proximity to the city center. convenient ac-cess by public transport. provided with a retail and entertainment area. shops, schools, kindergardens in the vicinity. modern finish-ing works.

summer 2010

deltA imOtiwww.deltaimoti.com

pozitano street,close to mall of sofia and stamboliiski Blvd.

seven floor residential building with apartment and office area. 51 park-ing places and garages

apartments65 — 131 sqmoffices71 — 201 sqm

underground parking places. shopping mall (mall of sofia) and open market in close proximity. restaurants, cafés and many shops in the vicinity.

within walking distance to the city center. communicative loca-tion. easy accessibility by car and public transportation. many amenities in close proximity

ready

PreSlAv hOuSinG cOmPlex

vitosha neigh-bourhood, close to vitosha mountain and simeonovsko shouse

11 residential sections with85 apartments. mesonettes, attic apartments and one andtwo–bedroom apartments.120 parking places

70 — 195 sqm24 hour security, underground parking plac-es, park area. many restaurants and cafes in close proximity.

located in a fast developing area. close to major traffic arter-ies (the ring road and simeonovsko shosse). in proximity to Borisova Garden park and vitosha mountain. splendid mountain views

ready

lOven PArkviP cOmPlex

dianabad district, op-posite Loven park area; in the very vicin-ity of sofia downtown area

3 residential buildings with apart-ments; office and retail spaces 70 — 350 sqm

24 hour security, underground parking plac-es, medical center, supermarket, restau-rants and shops in the complex, zoo in the close vicinity

communicative location. available parking places. The complex offers multiple amenities. in proximity to Loven park.

phase i, readyphase ii, readyphase iii — summer 2010

BOtAnikAreSidence

Boyana district, right next to the Botanical garden

10 residential buildings with 213 apartments in total. studios of dif-ferent sizes, apartments and maisonettes.

50 — 200 sqm medical center, spa center, restaurant, kin-dergarten, security and controlled access

upon completion the complex will have a dynamic, community area, offering various services to the residents. Lots of green ar-eas. sufficient number of garages. wonderful views to the moun-tain and the city.

end of 2010

colliers magazine26 residentialprojects

PrOject nAme lOcAtiOn tyPe And numBer Of unitS Size AmenitieS key BenefitS cOmPletiOn dAte

reSidentiAl PArk SOfiAwww.residentialpark–sofia.com

malinova dolina, above the ring road, on the opposite side of Bps

to be constructed in 3 phases with a to-tal of 700 units to be built. multifamily houses with apartments (1, 2 and 3 bedrooms), row houses and single houses for saLe/renT

completed apartments88 — 159 sqmcompleted row houses195 — 275 sqm

security and controlled access, supermar-ket, playgrounds, fitness and swimming pool, party hall, kinder garden, bank, café, restaurant

a project with a concept, providing safety, comfort and high standard of living for the whole family. very communicative loca-tion, well developed infrastructure. a lot of green areas. family environment. nice view to the mountain and the city. high quality, energy efficient construction materials. property management.

1st phase ready

mOunt viewwww.mountviewsofia.com

vitosha district,next to simeonovsko shousse, just behind maxi complex

2 residential buildings with 120 apartments in total

apartments 54 — 241 sqm

swimming pool and fitness, green areas, children playground, 24 hour security, con-trolled access, property management, un-derground parking

within 15 min. from the city center and 20 min. from sofia inter-national airport. close to the mountain. already completed. high quality finishing works and built–in kitchens with appliances. sports amenities within the complex.

ready

mOuntAin hOuSewww.rashidov.com

simeonovo, next to sky way hotel and simeonovsko shousse

four — floor residential building with 19 apartments and 2 studios

apartmentsand studios68 — 135 sqm

modern architecture, high quality materials, state–of–the–art finishing works of the com-mon areas

at the heart of the mountain, impressive panorama view, very communicative location, experienced developer, comfortable and secure environment with beautiful landscaping

q4 2010 / q1 2011

SOfiA Sky www.sofia–sky.com

The prestigious simeonovo dis-trict, simeonovsko shousse

detached houses, row houses and apartments

detached houses434 sqmrow houses224 — 338 sqmapartments — 79 — 349 sqm

24 hour security, property management, green areas, playgrounds

fully ready for occupancy. close to the mountain and simeonovsko ski lift. Beautiful architecture. wonderful views to the city. spacious private gardens for the ground floor apart-ments. energy efficient design and construction.

ready

vitOShA tuliPwww.vitoshatulip.bg

krastova vada district, close to cherni vruh Blvd.

144 completed luxury apartments, lo-cated in 4 buildings

completed apartments70 — 191 sqm

indoor pool, spa centre — sauna, steam bath, hot tub and fitness

excellent view to the mountain. Beautiful gardens, alleys and rest spots. entertainment and sports facilities. contemporary finish-ing works. professional property management

ready

lAGerA tuliPwww.lageratulip.bg

Lagera district gated residential community, com-prised of 4 modern apartment blocks

apartments36 — 198 sqm

retail areas, underground parking, recrea-tional facilities, children playgrounds, and luxuriant gardens; high — quality installa-tions, video intercom and reinforced doors

excellent location in proximity to the city center. convenient ac-cess by public transport. provided with a retail and entertainment area. shops, schools, kindergardens in the vicinity. modern finish-ing works.

summer 2010

deltA imOtiwww.deltaimoti.com

pozitano street,close to mall of sofia and stamboliiski Blvd.

seven floor residential building with apartment and office area. 51 park-ing places and garages

apartments65 — 131 sqmoffices71 — 201 sqm

underground parking places. shopping mall (mall of sofia) and open market in close proximity. restaurants, cafés and many shops in the vicinity.

within walking distance to the city center. communicative loca-tion. easy accessibility by car and public transportation. many amenities in close proximity

ready

PreSlAv hOuSinG cOmPlex

vitosha neigh-bourhood, close to vitosha mountain and simeonovsko shouse

11 residential sections with85 apartments. mesonettes, attic apartments and one andtwo–bedroom apartments.120 parking places

70 — 195 sqm24 hour security, underground parking plac-es, park area. many restaurants and cafes in close proximity.

located in a fast developing area. close to major traffic arter-ies (the ring road and simeonovsko shosse). in proximity to Borisova Garden park and vitosha mountain. splendid mountain views

ready

lOven PArkviP cOmPlex

dianabad district, op-posite Loven park area; in the very vicin-ity of sofia downtown area

3 residential buildings with apart-ments; office and retail spaces 70 — 350 sqm

24 hour security, underground parking plac-es, medical center, supermarket, restau-rants and shops in the complex, zoo in the close vicinity

communicative location. available parking places. The complex offers multiple amenities. in proximity to Loven park.

phase i, readyphase ii, readyphase iii — summer 2010

BOtAnikAreSidence

Boyana district, right next to the Botanical garden

10 residential buildings with 213 apartments in total. studios of dif-ferent sizes, apartments and maisonettes.

50 — 200 sqm medical center, spa center, restaurant, kin-dergarten, security and controlled access

upon completion the complex will have a dynamic, community area, offering various services to the residents. Lots of green ar-eas. sufficient number of garages. wonderful views to the moun-tain and the city.

end of 2010

find out more on www.offices.colliers.bg

colliers magazine issue 78

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