Vladimir Danailov: We Are Now Proactively Inviting Investors to Sofia

BalREc – the most influential real estate conference platform in Bulgaria and the region – was held in two halls and with 10 thematic panels. 

More than 400 professionals participated in the forum on November 7, and over 60 distinguished experts from Bulgaria and Europe participated in panel discussions on the state and investment environment of key market segments: offices, retail, residential, industrial and logistics areas, hotels, proptech.

Among the experts invited to participate in the forum’s program was the Chief Executive Officer of Sofia Investment Agency, Vladimir Danailov. 

In the panel “Office Space Market 2019. Perspectives and Growth Potential of the IT/BPO Industry”, he noted: “Since the beginning of the year we have worked with over 70 companies with an interest in investing in Sofia. They are no longer just talking about low costs, but about engineering talent, added value, about the environment we have and is developing rapidly. Companies that we couldn’t even dream of before now have their sites in Sofia and today we are proactively inviting them to invest in the city.”

The forum started with an opening address by Rosen Plevneliev, President of Bulgaria in 2012 – 2017. In his address, he noted that Bulgaria is seeing sound and sustainable economic growth, banks are doing well, and the evaluations and forecasts of international organisations are positive. He pointed out that even if the slow growth of the major European economies is reflected in our country, Bulgaria is well enough positioned to overcome such a period without a crisis, but rather a correction in expectations due to over-supply in some segments.

In the panel “Real Estate Invеѕtmеnt Outlооk – Bulgaria and CEE 2019”, the executive director of Forton|Сuѕhmаn & Wakefield, Michaela Lashova, drew attention to the interesting trend of increasing Asian investment in Bulgaria. She also noted the fact that the rental levels in Bulgaria are lower compared to the region and the return on investment – higher. According to the company, 45% of the investments are in offices, and 25% are in retail space. 

Posts with highlights of all discussions in the forum can be found on the Facebook page of the organizers The City Media Group, and a photo gallery of the event can be seen here.