Sofia Municipality is Ready to Partner With Private Investors for Better Social and Public Infrastructure in Newly Built Areas
The Municipal Councilor and Chairman of the Supervisory Board of Sofia Municipal Privatization and Investment Agency, Mr. Nikolay Stoynev, took part in the panel “Zones with potential for development in the context of a compact city,” part of the programme of Urban Development Forum 2020 (UDF2020).
The panel discussed the future and the models for transforming the former industrial zones in Sofia, which with proper planning and a balanced mix of functions, would become modern multifunctional urban centers. As examples of good practices were recognized railway areas and abandoned industrial sites in large Western European cities such as Vienna, Eindhoven, Paris, Barcelona, which have already become successful examples of modern urban spaces built up with well-coordinated public and private sector efforts.
“Sofia Municipality is trying to partner with investors to build together a new quality of the urban environment. Investments by private investors in the social and public infrastructure increase real estate price and return on investment. We have all drawn our conclusions from the chaotic construction without the envisaged social and public infrastructure. Citizens want to have a kindergarten, school, green area, sports ground nearby, and travel comfortably to other parts of the city. Sofia Municipality is ready to be a partner of the construction of the next large terrains in Sofia, to contribute to the development of the transport infrastructure, the management of kindergartens and schools envisaged by the investors. The old and dilapidated research and production areas of Sofia have the potential to become new neighborhoods providing everything needed. This is feasible through a partnership of the municipality with the private sector, with public interests having the lead “, said Nikolay Stoynev in the discussion.
This year The City Media Group’s forum was held as a hybrid event on 2 October and was organized in partnership with the European Investment Bank. You can find highlights from the “Zones with development potential in the compact city context” panel and other topics from the forum on The City Media Group’s website.
