97% of investments in commercial centers in Bulgaria are foreign
09.07.2008 10:35
The share of foreign investment in the investment market for commercial centres in Bulgaria is around 97%. This report shows a consulting company King Sturge.
This proportion is similar in Russia, compared to 90% on average for Central and Eastern Europe (CEE), stated in the report. For Hungary, Romania and Slovakia, it is 100%.
The market in Central and Eastern Europe represented about 20% of the investment market for commercial centers in Europe, which in 2007 was valued at 26.5 billion Euro, stated in the report.
Poland is the fourth largest investment market worth 1.6 billion euros in 2007 on Before it is only Britain, Germany and Italy.
Segment of commercial properties in our country is developing very dynamically in recent years.
In Sofia and in major cities were already opened the first modern type of schemes carried out mainly by foreign investors. Some, albeit few, of these first projects were implemented by the bulgarian investors, but then were sold to foreign players. Such is the case with the Sofia City Center, which was acquired by the investment fund Equest Balkan Properties, and the Central Mall in Veliko Tarnovo, purchased by the fund European Convergence Property Company (ECPC).
From ECPC, in turn, announced the intention to sell the mall in Turnovo, and later by Equest also announced plans for the sale of that in Sofia.
Currently in all bigger cities have announced several projects to build modern commercial centers of Sofia as they are over 15 and for nearly 10 Varna. Almost all of them will be realized by foreign investors.
With an estimate of the consulting company Colliers this year to the availability of market is expected to be added 100 000 kv. m commercial areas, including the first moles in Burgas and Stara Zagora. For 2009 Only in Sofia are expected to be finished shopping centres with an area 154 thousand sq.m.
