colliers magazine bulgaria english

colliers magazine79 | 2011

Retailers’ expansion: challengesLogistics solutionsAll companies gain from sustainable buildings Bulgaria on the outsourcing market

Discover the logicof logistics

Business Park SofiaBuilding 7B, 2nd floor1766 SofiaTel: + (359) 2 976 9 976

[email protected]/bulgaria

In this issue:2: NEWS

4: CASE STUDIES

5: THE EXPANSION OF RETAILERS AND THE LOGISTICS CHALLENGE

6: LOGISTICS SOLUTIONS

10: COLLIERS INDUSTRIAL SERVICES

11: INTERVIEW WITH MINKO BORDJUKOV, BULGARIAN PROPERTY DEVELOPMENT

12: OFFICE PROJECTS AND LISTINGS

19: INTERVIEW: ALL REAL ESTATE SEGMENTS GAIN FROM THE BENEFITS OF GREEN BUILDING

20: RETAIL PROJECTS

22: OPPORTUNITIES: BULGARIA ON THE OUTSOURCING AND OFF-SHORING MAP

23: INTERVIEW: BULGARIA HAS TO POSITION ITSELF AS A NICHE PLAYER

24: RESIDENTIAL PROJECTS

colliers magazine 1editor's note

Dear reader,

It is a pleasure presenting you the winter issue of Colliers Magazine, dedi-cated to the industrial real estate market, and the many opportunities that lie in front of us.

The expansion of retailers provides various challenges, and on page 4 we present case studies addressing these challenges. We are pleased to present two successful industrial projects – one in Rousse, and one in Varna. Colliers Magazine brings an interview with the developer on page 11. For various logistics opportunities – check the best solutions from pages 6 to 9.

Caring about the future of our society and identifying areas for successful development has always been a priority for Colliers. Sustainable construc-tion is one of the topics that challenges not only the real estate sector but the future of all of us, and has a potential to enhance the economic, social and environmental development. Learn more about the economic and financial benefits it offers in an interview on page 19.

Another area where Bulgaria has a great potential for further development is the outsourcing and off-shoring industry. Testament to this were the more than 300 delegates who attended the first “Realizing the Potential – Bulgaria on the outsourcing and off-shoring map” in Sofia. Get acquainted with Bulgaria’s competitive advantages, and the opportunities to become an important niche player in this sector, on page 20.

Throughout the magazine we present a number of properties, meeting various residential and commercial needs. At Colliers we believe in the value of dialogue, and would warmly welcome an in-depth conversation of your current and future real estate needs – we look forward to hearing from you.

Colliers team wishes you pleasant reading and a prosperous 2011.

Rumen Velichkov, Senior Consultant, Residential Brokerage Services, became

the salesperson of Q3, 2010. He receives this award for the 4th time.

Antoaneta Teneva, Marketing Manager of Grand Mall, was announced as the “Service excellence”

colleague for the third quarter of 2010, based on clients’ and colleagues’ choice.

Maya Klevtsova, Marketing Consultant in Colliers, became the 7th in the world, and the first outside North America to

achieve the Commercial Property Marketing Certification (CPMC) from Colliers University.

Colliers secured another anchor tenant for Grand Plaza in Rousse, Bulgaria. This is Arena Cinema

(GLA 2,070 sqm), the leading Bulgarian cinema operator. This is the second anchor together with Carrefour hypermarket. Grand Plaza Rousse, scheduled to open the first half of 2012, is an outstanding project, the first and the only in the region of its type and scale, which combines a multi-functional sport hall and a shopping mall. The innovative and professionally

designed project of 140,000 sqm total built up area will create a pleasant and enjoyable venue for shopping and entertainment for citizens and visitors to the city. Each part of

the complex complements the offers of the others creating a synergy to all and adding value to the entire project.

Colliers International offices in the Central Eastern and Southeast Europe have offi-cially adopted the new Colliers International market position and brand, including a modernized logo, as part of a campaign be-ing undertaken by offices around the globe to bring Colliers International real estate professionals and service lines under one umbrella.The consolidation under a single brand sig-

nifies Colliers International’s commitment to providing clients with seamless access to a complete set of real estate services, whether those services are required locally, nationally or internationally. Also included in the new branding are FirstService Real Estate Advisors, which provides corporate solutions and property and asset management services, FirstServ-ice Williams (the New York Tri-State hub

for Colliers International), FirstService PGP Valuation and PKF Capital – Hotel Broker-age Services. All of these firms will now be known collectively as Colliers International.

news from Bulgaria

Colliers in Bulgaria adopts the new look & feel

Kiril Yordanov, Mayor of Varna, bestowed the “Golden plumb” distinction to Grand Mall in the “Commercial building of the year” category. The award ceremony, held on October 25th, was part of the “Building expo – Varna 2010”. “This recognition is an acknowledgement of the distinctive architectural design and quality of construction of Grand Mall, which

were appreciated not only by the jury but by our clients as well”, said Steven Cleaver, Mall Manager of Grand Mall, Colliers Inter-national. During the last few months Grand Mall wel-comed many new tenants, amongst which Massimo Dutti, Pierre Cardin, Subway, LC WAIKIKI, ESPRIT, Hippoland, Dance Palace, Oysho and Vivacom.

Grand Mall is “Building of the year” at the 2010 “Golden plumb” awards

Arena Cinema step in Rousse

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2

Park Mall Stara Zagora Celebrates its second birthday on Halloween

Serdika Offices welcomes guests from the Austrian Business Circle

Serdika Offices hosted an event for repre-sentatives of the Austrian Business Circle, attracting more than 100 participants. This was the first time the atrium of the office building was used for this type of event. Speakers included representatives from Im-moRent and Sparkassen Immobilien.

Colliers partners the Green Building conferenceThe Green Building – A Sustainable Path to Energy Efficiency and Economic Growth” conference, supported by Colliers Interna-tional, gathered more than 220 partici-pants in Hilton, Sofia. Representatives of the Bulgarian government, the American Embassy, high-level decision makers, spe-cialists in green building technologies and practices from the United States and the European Union attended the event. The forum presented successful green building projects in Europe and the United States, green architectural design, energy-efficient and sustainable construction techniques.To learn more about Green Buildings trends, read the interview with Devin Saylor, Regional Director of Sustainable Advisory Services in Col-liers South East Europe on page 19.

New brands in The MallA variety of new brands enriched the retail mix of the largest mall in Bulgaria, offering additional diversity and customer experi-ence. Amongst the new tenants are Public, NEXT, Esprit. Oysho, Levi’s, BabyToria, CO-LIN’S Jeans, Pink Woman, Mc Baby, Okaidi, B&G and King Breakfast.

Colliers facilitated the lease agreement between Kuehne + Nagel and Sofia Airport Center (SAC). The leading global provider of integrated supply chain solutions occupies a 900 sqm warehouse and 280 sqm office premises.

Bulgaria on the outsourcing and off-shoring map More than 300 delegates attended the first “Realizing the potential – Bulgaria on the Outsourcing and Off-shoring map” conference in Sofia, Bulgaria. High ranking governmental officials, prominent experts and senior executives shared valuable ex-perience and engaged in a forward-looking discussion about Bulgaria’s potential as an outsourcing and off-shoring location. Read more about the conference and the topic on page 22.

Several new companies choose European Trade Center During the last few months, European Trade Center (ETC) has welcomed several new ten-ants. Playtech, a company that develops soft-ware solutions for the online gaming industry, has leased 1,700 sqm of office space in ETC. EuroTech, CSMS, SafeCharge and SafeCup are the other new tenants in the office com-plex. Bulmetix EOOD, a company dealing with fuel trade, is amongst ETC’s latest tenants.

Park Mall celebrated its second birthday with a great Halloween theme. One of the most famous Buglarian singers Grafa, street dances, kid’s shows, scary corners, vampire make-up and funny actors dressed like ghosts and witches were part of the three-day birthday celebrations of Park Mall. Park Mall in Stara Zagora is managed by Colliers International

Colliers represents PFIZER in its Bulgarian Headquarters Expansion

Pfizer, the world’s largest research-based pharmaceutical company, selected Colliers International as a partner for the expansion of its Bulgarian headquarters. Considering

the company’s rigorous corporate require-ments, the selection and approval process continued for almost 18 months. It included a detailed market analysis, selection of suit-able properties based on the client’s global criteria, financial analyses, commercial terms negotiation, buildings’ technical and health and safety due diligence, and lease agreement negotiation. Pfizer’s final preference for the office expan-sion was European Trade Center (ETC). The project was the only one which met the company’s strict international criteria. Pfizer’s new headquarters will spread on 1,800 sqm in building B in ETC.

Sofia Airport Center welcomes Kuehne + Nagel

colliers magazine 3news

3PL outsourcing: a practical exampleServices provided 3PL outsourcing

Challenge:Our client, a retailer from Sofia, trading with children toys and sports equipment, often needed to travel to Varna and Bourgas to take their consignments/shipment/goods at the shipyards, process them in Sofia, and then distribute them throughout the coun-try. The company has been considering for some time buying or leasing a warehouse in Varna, in order to optimize their distribu-tion expenses.

Strategy:Colliers advised the client to consider another possible option – a 3PL outsourc-ing, and provided a comparative analysis to evaluate the most effective solution: buy-ing/leasing warehouse premises or logistics activities outsourcing. It was agreed that choosing the third option would be the most beneficial solution to the retailer: a 3PL out-sourcing company that would be involved in dispatching/taking the consignments of the client from the shipyards, processing and distributing them accordingly.

Results:Significant cost savings from transporta-tion and fixed costs related to long-term warehouse lease

Sustainable features in your building and getting a built-to-suit solution Services provided: Built-to suit solutions and sustainability advisory services

Challenge:Our client, a Bulgarian company, producing spa and pool facilities, was looking for a suitable multifunctional building, compris-ing showroom, office, warehouse and pro-duction premises. As the current options on the market did not suit our client’s need, we offered another solution: providing an inves-tor and developer for built-to-suit building.

Strategy:Colliers selected an international developer, who would invest in a multifunctional build-ing construction and lease it out long-term to the client. Colliers worked closely with both the developer and the client on the project’s concept, including incorporat-ing sustainable features, cost, financial savings, energy savings that would be best applicable for the specialized building. After selecting the land plot, our company supported the whole process, starting from the site selection, the architectural develop-ment of the project, and the construction of the building.

Results:• Finding the best solution for the client

by securing an investor who would lease out the project long term.

• Due to the fact that the implemented sustainable solutions started from the very beginning of the process, the construction costs of the green building practically did not exceed the ones of a conventional one. At the same time, the projected economic savings relate to both savings for the tenants (i.e. operational costs) and the investor.

Expanding your business: a successful logistics solution

Services provided:landlord representation, outsourcing con-sultancy services

Challenge:Our client is a well-known Bulgarian distrib-utor of pets’ goods. They have planned to present to the market a new brand in their portfolio of distributed goods. The challenge appears because of the limited capacity of their current warehouse premises to meet the volume of the new brand and the uncertain success of the new products mar-keting, which makes questionable possible expansion in new warehouse premises.

Strategy:Colliers Industrial Team started to analyze the company’s current logistics activities structure and during the process, to provide the client with professional advice on mar-ket opportunities. Several options were con-sidered and compared: 1) relocation in new warehouse premises for rent which meet their growth and expansion plans and 2) engaging an external logistics provider with the logistics operations of SAM BS goods.

Results:The distributor company has been provided with an opportunity to test the market with trading of their new brand via outsourcing of the volume imported to a third party logistics provider (3PL). This allowed the client to have enough time and resources to set their mid-term sales and marketing strategy and be able to find as a further step their new warehouse solution which could meet their needs. Through this ap-proach of the Industrial team Colliers has been approved as a preferred partner and trustworthy professionals thus achieving client’s satisfaction.

„Preferring the services of a 3PL provider to the alternative of rent-ing new warehouse premises was the best possible solution for our company. Colliers’ experienced team saved us time and financial resources in searching for the right approach, which enabled us to focus on core activity and new product implementation”.Sergey Volhonskiy, director, SamBS

„Colliers assisted us in finding the best possible solution for new logis-tics premises that consolidated Andrews Fashion’s warehouse facilities in one place. This opportunity allowed us to optimize our rental expens-

es, as well as to organize more effectively our logistics processes” Pavlin Andreev, owner, Andrews Fashion

4 theme – industrial

The rapid expansion of the FMCG (Fast Moving Consumer Goods) and fashion retailers over the past years, presents new logistics challenges to the market.

The requirements of retailers depend on type of product, turn-around time and location. But the first fundamental question relates to the strategy of the individual retailer related to business proc-esses. Companies such as Lidl, Penny Market, Billa and Kaufland havea strategy that involvesownership of thelogistics facilities. In other words, these retailers invest in construction of own ware-house facilities which are then solely dedicated to servicing current and future needs of the supermarket chain.The benefits of this type of logistics strategy include hands-on management of logistics operations since its own real estate and staff. The disadvantages include high, fixed costs and potential lack of flexibility. Besides, capital is bound in non-core assets rather than invested in the operation of the business.Retailers can alsochoose a build-to-suitsolution,where the property is developed specifically according to their requirements. This option has gained foothold due to the scarcity of speculative space and because it provides full customization with-out tying up capital in non-core real estate. This is possible since the investment in the construction and land is done by an investor,

based on a long-term lease contract – typically 10-years. The length of the lease contract lowers the risk for the investor, while the tenant obtains a completely tailored facility. It can be an excellent solution for companies able to predict their future logistics needs. For retailers expanding into a developing market such as Bulgaria though, it might not be the best option initially. The highest levelof flexibilitycompared to conventional logistics solutions is the third-party logis-tics provider – 3PL. 3PLs facilitate and structure complex logistics solutions including warehouse logistics, transport logistics and distribution via partnership with logistics services providers. Inter-national retailers Carrefour and Deichmann are among the retailers that have chosen to outsource the logistics.By outsourcing the various logistics functions, companies such as retailers can focus completely on their core business, and benefit from the supply chain expertise offered by 3PLs. In recent years the growth of the third-party logistics providers has lead to an increas-ing segmentation with providers focusing on distribution, transport, temperature-controlled logistics, etc.With the global economy about to recover, now is the time for a health check of business processes, and to ensure that the company is ready for growth. This assessment should include a comprehensive analysis of current and future logistics needs, com-paring ownership options versus renting versus outsourcing. Done properly, the health check is likely to provide long-term resource savings and complete business process optimization.

Expansion of retailersand the logistics challenge

colliers magazine 5market trends

PRojeCt nAme LoCAtion Size tyPeS teChniCAL SPeCifiCAtionS ADDitionAL SPACeS infRAStRuCtuRe SeRviCeS PRoviDeD

LoGIStICS PARK VARNAwww.logisticspark–varna.com Fo

R R

ENt Varna, Vladislav Varnenchik Blvd.,

10 minutes drive from Varna’s seaport, international airport, central train station and city center

Land plot – 132,000 sqmTBA of Building A1 – 6,400 sqmTBA of Building A2 – 3,200 sqmTBA of Building A6 – 11,500 sqm

Warehouse and office premises for rent

• Warehouse – 10 m clear height• Technological docking doors • Loading position – loading bays/ground level• Grinded concrete floors with loading

capacity of 5 tons/sqm• Façade thermo insulation – 8 cm• Fire detection and Sprinkler system

Offices, parking building, restaurant, surrounding areas

Telephone and internet access, cars and trucks parking, public transportation in a close proximity

• 24/7 physical security, video surveillance and access control;

• maintenance of common areas and infrastructure

SoFIA AIRPoRt CENtER Fo

R R

ENt

Sofia, great proximity to Sofia Airport29,000 sqm of prime logistic space124,000 sqm class A offices

Class A warehouse and office space for rent

• Warehouse – 10 m clear height• 12 cm thermo panels• Warehouse heating system • Loading doors at ground level• Hydraulic ramps• Sprinkler system

Offices, restaurants on site, surrounding areas

Two independent sources of electricity, telephone and internet access, cars and trucks parking

• 24/7 physical security and video surveillance

• Reception• access control• maintenance of

common areas

UNIVERSAL LoGIStICS Fo

R R

ENt Sofia entrance from Trakia

highway, in close proximity to the crossroads of Tsarigradsko Shousse Bldv. and the Ring Road

Land plot – 69,000 sqmTBA of Building 2 – 12,000 sqm

Warehouse premises for rent/for sale

• Warehouse – 10 m clear height• Loading position – loading

bays with 1.20 m height• Grinded concrete floors with loading


Built-in Offices Telephone and internet access, cars and trucks parking

• Logistics services• 24/7 physical security,

video surveillance and access control


tRAdE CENtER EURoPE Fo

R R

ENt

Sofia, Iskarsko shousse, near Sofia Airport

TBA of Building 15: TBA of warehouse premises – 6,000 sqmTBA of Office premises – 4,300 sqm


• Warehouse premises – 3,50-5,50 m clear height

• Loading position – loading bays with levellers• Grinded concrete floors • Freight elevators• Day light available in warehouse premises

Offices

Telephone and internet access, cars and trucks parking, restau-rants, bank and customs offices, car-wash, fitness center, reception, surrounding areas, public trans-portation just next to the complex

• 24/7 physical security, video surveillance and access control


tRANSCAPItAL

FoR

REN

t

Sofia, 247 Botevgradsko shousse

TBA of Logistics buildings – 40,000 sqmTBA of Office buildings – 12,000 sqmSurrounding open site areas –60,000 sqm

• Logistics terminal• Warehouse/ office premises• refrigerators for rent

• Warehouse – 9-12 m clear height• Loading position – loading bays with levellers• Grinded concrete floors with loading

capacity of 5 tons/ sqm• Façade thermo insulation – 12 cm• Fire detection and Sprinkler system• Refrigerators (-18˚C -20˚C)• Temperature controlled pallet places 0˚C +4˚C • Warehouse management system

Offices, refrigeratorsTelephone and internet access, cars and trucks parking, restaurants, surrounding areas




ZMM — SoFIA

FoR

REN

t

The Northwestern part of Sofia, Voenna Rampa industrial zone

TBA of Logistics Building – 12,000 sqm Warehouse premises for rent

• Warehouse – 4,6 m clear height• Technological docking doors – ground level• Grinded concrete floors • Freight elevators with loading

capacity of 2 tones per sqm• Second floor loading capacity – 1 ton per sqm• Gas heating system

Built-in offices and sanitary premises

Telephone and internet access, cars and trucks parking, rail way at the border of the complex, public transportation in a close proximity



AxxoN LoGIStICS ANd BUSINESS CENtER

FoR

REN

t

Sofia, western industrial zone

TBA of warehouse build-ing – 8,000 sqmTBA of office build-ings – 5,600 sqm


• Warehouse – 11 m clear height• Grinded concrete floors • Loading position – ground level/loading bays• Façade insulation• Fire detection and Sprinkler system

Offices, reception, con-ference rooms

Telephone and internet ac-cess, parking, restaurant



• employees bus shuttle to metropolitan rail way station

• logistics services

colliers magazine6 logistics & industrial projects

7


LoGIStICS PARK VARNAwww.logisticspark–varna.com Fo

R R

ENt Varna, Vladislav Varnenchik Blvd.,

10 minutes drive from Varna’s seaport, international airport, central train station and city center

Land plot – 132,000 sqmTBA of Building A1 – 6,400 sqmTBA of Building A2 – 3,200 sqmTBA of Building A6 – 11,500 sqm


• Warehouse – 10 m clear height• Technological docking doors • Loading position – loading bays/ground level• Grinded concrete floors with loading


Offices, parking building, restaurant, surrounding areas

Telephone and internet access, cars and trucks parking, public transportation in a close proximity

• 24/7 physical security, video surveillance and access control;


SoFIA AIRPoRt CENtER Fo

R R

ENt

Sofia, great proximity to Sofia Airport29,000 sqm of prime logistic space124,000 sqm class A offices

Class A warehouse and office space for rent

• Warehouse – 10 m clear height• 12 cm thermo panels• Warehouse heating system • Loading doors at ground level• Hydraulic ramps• Sprinkler system

Offices, restaurants on site, surrounding areas

Two independent sources of electricity, telephone and internet access, cars and trucks parking

• 24/7 physical security and video surveillance

• Reception• access control• maintenance of

common areas

UNIVERSAL LoGIStICS Fo

R R

ENt Sofia entrance from Trakia

highway, in close proximity to the crossroads of Tsarigradsko Shousse Bldv. and the Ring Road

Land plot – 69,000 sqmTBA of Building 2 – 12,000 sqm

Warehouse premises for rent/for sale

• Warehouse – 10 m clear height• Loading position – loading

bays with 1.20 m height• Grinded concrete floors with loading


Built-in Offices Telephone and internet access, cars and trucks parking




tRAdE CENtER EURoPE Fo

R R

ENt

Sofia, Iskarsko shousse, near Sofia Airport

TBA of Building 15: TBA of warehouse premises – 6,000 sqmTBA of Office premises – 4,300 sqm


• Warehouse premises – 3,50-5,50 m clear height

• Loading position – loading bays with levellers• Grinded concrete floors • Freight elevators• Day light available in warehouse premises

Offices

Telephone and internet access, cars and trucks parking, restau-rants, bank and customs offices, car-wash, fitness center, reception, surrounding areas, public trans-portation just next to the complex



tRANSCAPItAL

FoR

REN

t

Sofia, 247 Botevgradsko shousse

TBA of Logistics buildings – 40,000 sqmTBA of Office buildings – 12,000 sqmSurrounding open site areas –60,000 sqm

• Logistics terminal• Warehouse/ office premises• refrigerators for rent

• Warehouse – 9-12 m clear height• Loading position – loading bays with levellers• Grinded concrete floors with loading

capacity of 5 tons/ sqm• Façade thermo insulation – 12 cm• Fire detection and Sprinkler system• Refrigerators (-18˚C -20˚C)• Temperature controlled pallet places 0˚C +4˚C • Warehouse management system

Offices, refrigeratorsTelephone and internet access, cars and trucks parking, restaurants, surrounding areas




ZMM — SoFIA

FoR

REN

t

The Northwestern part of Sofia, Voenna Rampa industrial zone

TBA of Logistics Building – 12,000 sqm Warehouse premises for rent

• Warehouse – 4,6 m clear height• Technological docking doors – ground level• Grinded concrete floors • Freight elevators with loading

capacity of 2 tones per sqm• Second floor loading capacity – 1 ton per sqm• Gas heating system

Built-in offices and sanitary premises

Telephone and internet access, cars and trucks parking, rail way at the border of the complex, public transportation in a close proximity



AxxoN LoGIStICS ANd BUSINESS CENtER

FoR

REN

t

Sofia, western industrial zone

TBA of warehouse build-ing – 8,000 sqmTBA of office build-ings – 5,600 sqm


• Warehouse – 11 m clear height• Grinded concrete floors • Loading position – ground level/loading bays• Façade insulation• Fire detection and Sprinkler system

Offices, reception, con-ference rooms

Telephone and internet ac-cess, parking, restaurant



• employees bus shuttle to metropolitan rail way station

• logistics services

continues on next page ►

7theme – industrial


LoGIStICS PARKVEdEA Fo

R R

ENt

Sofia region, town of Bozhurishte, 15 km from the center of Sofia, close proximity to the Ring Road

Land plot – 15,000 sqmTBA of warehouse build-ings – 7,000 sqm

Warehouse premises for rent

• Warehouse – 5 m clear height• Grinded concrete floors • Technological docking doors • Loading position – ground level• Grinded concrete floors • Day light available in warehouse premises

Built-in officesTelephone and internet access, parking, rail way/public trans-portation near the complex



MARItSA INdUStRIAL ZoNE Fo

R R

ENt

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

• 24/7 physical security,• access control,• maintenance of the

common areas,• road maintenance, etc.

UNIVEG 3PL Sofia region, Municipality of

Musachevo, near Elin Pelin, eastwards of Sofia

Land plot – 19,000 sqmTBA of logistics building – 8,000 sqm

• Logistics terminal

• Fresh, chilled and frozen products temperature zones

• Temperature control between –20˚C +12˚C;• 25 Loading positions – loading

bays and ground level• Warehouse management system

Offices

Telephone and internet access, concrete loading dock area, surrounding asphalt and green areas, parking

• Temperature controlled logistics services

• Food distribution and supply chain services

• Multi-temperature controlled transport lines

bERS LoGIStICS CENtER 3P

L Ring road, near the village of Kazichane and Sofia Airport be-tween Trakia and Hemus Highway

Terminal 1 – 2,177 sqm of warehouse and officesTerminal 2 – 6,500 pallet placesTerminal 3 – 2,192 sqm of industrial fridges, offic-es and archives storageTerminal 4 – 7,370 sqm of pallet places, industri-al fridges and offices


• Warehouse – 12.5 m clear height• Loading position – hydraulic ramps• Refrigerator cameras -20˚C +18˚C• Extinguishing fire alarm and sprinkler system• License under HACCP and certificate

of commodity groups 17 and 20• Constant temperature levels secured at

the warehouse via geo-thermal energy

Offices, refrigerators, archive storage

Telephone and internet access, parking zone, public transport in proximity

• Full scope of logistics and transport services

• 24/7 security and video surveillance, access control

• Common areas and road infrastructure maintenance

StAd LoGIStICS CENtER 3P

L Sofia Ring–Road at the Kazichene region, between the Hemus and Trakia Highway

TBA of the logistics complex – 5,740 sqm

• Logistics terminal• office and showroom

premises for rent

• Warehouse – 12 m clear height• Loading position – loading bays/ ground level• Fire detection and Sprinkler system• Warehouse management system

with on-line access• Temperature and humidity levels measurement• HACCP and commodity Group 20 certificates

Offices, Showrooms, underground parking

Telephone and internet access, public transportation near the complex

• Integrated logistics services• 24/7 physical security,


• Maintenance of common areas and infrastructure

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, gas

• 24/7 physical security,• access control• maintenance of

common areas, 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


• 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

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

colliers magazine8 logistics & industrial projects


LoGIStICS PARKVEdEA Fo

R R

ENt

Sofia region, town of Bozhurishte, 15 km from the center of Sofia, close proximity to the Ring Road

Land plot – 15,000 sqmTBA of warehouse build-ings – 7,000 sqm

Warehouse premises for rent

• Warehouse – 5 m clear height• Grinded concrete floors • Technological docking doors • Loading position – ground level• Grinded concrete floors • Day light available in warehouse premises

Built-in officesTelephone and internet access, parking, rail way/public trans-portation near the complex



MARItSA INdUStRIAL ZoNE Fo

R R

ENt

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

• 24/7 physical security,• access control,• maintenance of the

common areas,• road maintenance, etc.

UNIVEG 3PL Sofia region, Municipality of

Musachevo, near Elin Pelin, eastwards of Sofia

Land plot – 19,000 sqmTBA of logistics building – 8,000 sqm


• Fresh, chilled and frozen products temperature zones

• Temperature control between –20˚C +12˚C;• 25 Loading positions – loading

bays and ground level• Warehouse management system

Offices

Telephone and internet access, concrete loading dock area, surrounding asphalt and green areas, parking

• Temperature controlled logistics services

• Food distribution and supply chain services

• Multi-temperature controlled transport lines

bERS LoGIStICS CENtER 3P

L Ring road, near the village of Kazichane and Sofia Airport be-tween Trakia and Hemus Highway

Terminal 1 – 2,177 sqm of warehouse and officesTerminal 2 – 6,500 pallet placesTerminal 3 – 2,192 sqm of industrial fridges, offic-es and archives storageTerminal 4 – 7,370 sqm of pallet places, industri-al fridges and offices


• Warehouse – 12.5 m clear height• Loading position – hydraulic ramps• Refrigerator cameras -20˚C +18˚C• Extinguishing fire alarm and sprinkler system• License under HACCP and certificate

of commodity groups 17 and 20• Constant temperature levels secured at

the warehouse via geo-thermal energy

Offices, refrigerators, archive storage

Telephone and internet access, parking zone, public transport in proximity

• Full scope of logistics and transport services

• 24/7 security and video surveillance, access control

• Common areas and road infrastructure maintenance

StAd LoGIStICS CENtER 3P

L Sofia Ring–Road at the Kazichene region, between the Hemus and Trakia Highway

TBA of the logistics complex – 5,740 sqm

• Logistics terminal• office and showroom

premises for rent

• Warehouse – 12 m clear height• Loading position – loading bays/ ground level• Fire detection and Sprinkler system• Warehouse management system

with on-line access• Temperature and humidity levels measurement• HACCP and commodity Group 20 certificates

Offices, Showrooms, underground parking

Telephone and internet access, public transportation near the complex

• Integrated logistics services• 24/7 physical security,


• Maintenance of common areas and infrastructure

INdUStRIAL PARK SoFIA EASt BU

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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


• 24/7 physical security,• access control• maintenance of

common areas, etc.

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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


• 24/7 physical security,• access control,• maintenance of

common areas, etc.

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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

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

9theme – industrial

BUILt-to-SUIt SoLUtIoNSFacilitating and negotiating turn-key solutions and specific building develop-ments via partnership with developers and investors specialized in complex building solutions providing.Suitable for:Companies with specific requirements on the premises needed, which could not be met by convectional buildings. • Pharmaceutical companies - need

premises to meet special conditions for storage of their goods

• Retailers and wholesalers - need flex buildings to accommodate showroom, office and warehouse at the same bld.

• Temperature controlled logistics providers and users

Benefits• Site selection process assistance• Due diligence of investors, developers,

project management and design teams• Structuring type and process of

the transaction – sale, lease, sale leaseback, credit sales

• Financing opportunities investigation and analyses

SUStAINABILItY AdVISoRY SERVICES• Sustainability development analyses

and strategies of the building project• Sustainability cost vs. benefit analyses

and best practices investigation• LEED rating system and

certification process consultingCheck more on page 19

3PL oUtSoURCING SERVICESFacilitating and structuring complex logis-tics solutions including warehouse logistics, transport logistics and distribution via part-nership with logistics services providers.Suitable for:Producers, manufacturers, wholesalers, im-porters/ exporters, trade representatives, retailers, distributorsBenefits• Due diligence of the main

logistics providers, their services and specialization

• Expertise in the whole supply chain process and specific logistics needs of the main industries

• Comprehensive analyses of comparing ownership option vs. renting vs. outsourcing

• Managing the negotiations during the entire outsourcing process

• Time savings, financial resources and business processes optimization

BRoKERAGE SERVICESColliers Industrial team is dedicated to servicing clients with diverse needs for industrial and logistics premises. Our profound understanding of the business and the close cooperation with experienced developers are instrumental in finding the best possible solution for any company. We provide tailored brokerage services, ac-cording to the specific clients requirements that include: • Short-listing of ready-to-use

facilities for rent/sale• Financial analyses – current

VS desired location• Comprehensive analyses of

comparing ownership option vs. renting vs. outsourcing

• Negotiating the best commercial and legal terms.

Our logistic services

“I would like to thank you for your always professional support and attitude towards this deal. I am looking forward to working with Colliers on certain logistics opportunities and business”Plamen Penev / Sof BM, Branch Manager KUEHNE + NAGEL Ltd.

10 theme – industrial

Mr. Bordjukov, what is Logistics Park Varna’s current stage of development? What part of it

is already occupied?Logistics Park Varna is the most contem-porary logistics center in Bulgaria, offering a modern concept, designed to satisfy the most demanding client requirements for warehousing, cargo handling standards, and working environment. The location of the project is the best possible in Varna, provid-ing sea, land and air transport accessibility.The first two buildings - A1 and A2 – are almost 100% occupied. The ample, multi-level parking provides convenience for em-ployees and visitors. Most tenants are lead-ing companies in the food and beverage, as well as industrial and 3PL segments. Recently, Act Logistics - the Bulgarian partner of one of the largest international logistics and supply chain company Gefco, located its office and warehouse premises in LPV.Currently we are completing our third building - A6, which provides 10,000 sqm warehousing space storage areas and 1620 sqm offices on the second level. The development will be ready in the beginning of 2011 and will provide excellent facilities and on-site amenities for medium and large tenants. We are also working on re-defining the overall concept of the project, mostly positioning it as a logistics project, and reducing the percentage of the office space to the extent necessary to service it’s the warehousing facilities. Part of the project will have showrooms and hypermarket.

Companies from which market seg-ments do you expect to be most inter-ested in LPV’s new building?Clients’ interest is closely related to the specifications of the development. A6 building is designed to meet the require-ments of large-scale tenants (in terms of size and height of the premises), so it is not surprising that the main interest comes from third-party logistics operators (3PL) and some large-scale companies, whose busi-ness is closely related with Varna’s seaport. Logistics Park Varna has been planned to meet the needs of wide range of clients. The proximity to Varna downtown allows us to have both larger and smaller (300-500 sqm) tenants that operate within the distribution segment. Buildings A1 and A2 were con-structed according to this criteria, whereas dividing A6 into smaller warehouse facilities would be ineffective for both parties.

What is the development stage of Logistics Park Rousse? Despite the difficult weather conditions during the winter and spring of 2010, when the rough construction was started, the first building will be ready and will welcome its first tenants. At present, we are completing the infrastructure – laying the asphalt and the road signs, as well as some finishing works on the building’s installations. We did not want to set a record for a fastest completion as usually quality gets affected, on the contrary – we slowed down some of the construction works in order to achieve the best possible results.

Will there be any difference between the occupiers in Rousse and Varna Logistics Parks? Let me first say which the fundamental similarities between both projects are: a strategic location, clear concept and excel-lent quality of construction. The warehouse facilities are equipped with modern tele-communications, dock levelers and loading ramps, ample space for truck maneuvering, fire sprinkler system, spacious parking for tenants and visitors, green areas and amenities. I can boldly say that these are the best logistics facilities in both regions.The differences between both parks are mainly in the specifics of the two cities and the location of the projects. As Logistics Park Varna is located in closer proximity to the downtown, the percentage of the warehouse facilities, occupied by smaller tenants and commercial areas are bigger. Our project in Rousse is focused on tenants of a larger scale and such from the light industry.

In what way would the development plans for Industrial Park Rousse af-fect Logistics Park Rousse’s business in the future? Business attracts business, and the respec-tive services. There are interested clients both from the light industry and their servic-ing 3PL providers. Of course, the increasing business opportunities in this industrial zone would inevitably influence Logistics Park Rousse’s business, although this seems more realistic in the mid-term.

Logistics Park Varna and Logistics Park Rousse provide the best logistics facilities in both regions

Minko Bordzhukov is the Managing director of Bulgarian Property developments Eood, an investment company, specialized in developing commercial properties in Bulgaria. BPD was the first company listed on AIM, the second tier market of the London Stock Exchange. The company has invested in significant projects like Logistics Park Varna and Logistics Park Rousse.

colliers magazine 11interview

EURoPEAN tRAdE CENtER www.etc-bg.net

ETC is a landmark office project with excellent location, visibility and accessibility. The office complex offers class A office space, efficient design solutions, multiple amenities and abundant parking space. Among the key tenants are Vivacom, Alcatel-Lucent, Samsung, Special Events Group, Call Point New Europe, Inditex, Pfizer, Playtech, CSMSLocation SizeTzarigradsko Shousse Blvd. Open space flexible layout planning

TBA: 72,000 sqm; GLA: 50,000 sqm,floor plate from 1,300 to 1,700 sqm (buildings B,C,D)

Key BenefitS: StAnDARD offiCe eQuiPment:• Adjacent to The Mall • Convenient public transport• Excellent visibility and access• Easy access to the Central Business District

and Sofia International Airport • Direct access to the underground

parking and storage facilities • A large variety of restaurants, cafes, shops, banks,

modern fitness center and other services • Underground parking, over 800 spaces

• Suspended ceilings • Raised floors • Structured cabling system CAT 6• Ventilation and 4-pipe air conditioning system• Building Management System (BMS)• Independent measurement of electricity• 5 high speed passenger elevators, 1 freight elevator• Emergency diesel generators, which supplies the common parts of the buildings• Centralized fire alarm system• Access control with magnetic cards• 24/7 CCTV system in common areas• 24/7 physical security• Façade: energy saving technology, UV rays protection• Disabled people facilities

SERdIKA oFFICES www.serdika-offices.com

Serdika Offices offers excellent Class A office space in a landmark project together with the adjoining Serdika Center. The co-existence with the shop-ping mall brings additional advantage; a perfect atmosphere for a team meeting or a business lunch and after business hours employees can relax at the wellness and leisure facilities of the shopping center. The building provides excellent location, high visibility and easy access by public and private transportation.Location SizeSitnyakovo Blvd., Broad Center Open space flexible layout planning

TBA: 35,000 sqm; GLA: 28,000 sqmfloor plate – up to 4,000 sqm

Key BenefitS: StAnDARD offiCe eQuiPment:• Adjacent to Serdika Center shopping mall• Post office, hospital and numerous facilities in close proximity • Convenient public transport • Excellent visibility and access • Easy and fast access to CBD and Sofia Airport • Direct access to the underground parking (several levels,

500 places for the office tenants) and storage facilities • A large variety of restaurants, cafes, food court, shops, banks, etc.• High optimization of working space, flexibility in partitioning

• Suspended ceilings• Raised floors• Structured cabling system CAT 6• Ventilation and 4-pipe air conditioning system• Building Management Systems• High speed elevators• Centralized fire-alarm system• 24/7 CCTV system in the common areas• 24/7 physical security

colliers magazine12 class A office projects

BUSINESS PARK SoFIA www.businesspark-sofia.com

Business Park Sofia hardly needs any introduction. This project continues to define the office market in Sofia.

Location SizeMladost 4, next to the Ring Road, at the foot of the Vitosha Mountain, about 20 minutes away from the Central Business District in Sofia

TBA: 300,000 sqm

Key BenefitS: StAnDARD offiCe eQuiPment:• 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• Convenient public transport, free-of-charge shuttle for the office

tenants.Within a 10 minute drive from the international airport• High level of security• Copy center and office supply• Shops, bank branches, restaurants, cafes, pharmacy shop, post office • Holiday Inn hotel• Parking spaces in the buildings and in a separate parking building

• Suspended ceiling• Raised floor• Partition walls - dry gypsum • Structured cabling system – CAT 6• Access control with magnetic cards • 24/7 CCTV system in common areas• 24/7 physical security

BULGARIA HoUSEBulgaria House provides excellent visibility and easy access.

Location Size49 Bulgaria Blvd., Motopista RD, Broad Center

TBA: 12,400 sqm; GLA: 10,500 sqmFloor plate from 212 tо 2,200 sqm

Key BenefitS: StAnDARD offiCe eQuiPment:• Easy access• Convenient parking with 65 slots• Flexible partitioning • Bar& Dinner (in the building) • BILLA hypermarket, shops, bank branches

and fitness center in close proximity

• Suspended ceilings• Raised floors• Partition walls – dry gypsum• Ventilation and 4-pipe air conditioning system• Independent measurement of electricity• 3 elevators• Centralized fire alarm system• Smoke detectors• 24/7 CCTV system in common areas• Installed alarm system

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oFFICE BUILdING oN PARCHEVICH Str.LocationLayoutfloor Plate SizeRentAvailability

42 Parchevich Str.Partitioned 300 sqm10 Euro/sqmTenant Ready

The business center has excellent central location on a cross-street to the pedestrian zone of Vitosha Blvd. There is a variety of amenities in the area such as shops, restaurants, cafes and etc. The higher body of the business center in comparison with the low-rise houses in the surrounding area is one of the ad-vantages due to the splendid view revealing from the building. 24-hours physical security, video surveillance of the common areas, SOT and access control for the premises, have been secured. VG

BULGARIA 2000LocationLayout floor Plate SizeRentAvailability

Joan Pavel ІІ sq.Open space / Partitioned 221 sqm 11 Euro/sqmTenant Ready

This business center is located several streets away from NDK, in close proximity to the metro station. The excellent visibility and the quality finishes are amongst the key benefits of the building. VG

PLAtINUM BUISNESS CENtERLocationLayoutfloor Plate SizeRentAvailability

26-30 Bacho Kiro Str.Open space 50 – 500 sqm 18 Euro/sqmTenant Ready

Platinum Business Center combines central location and on-site amenities with state-of-the-art specifications. The standard equipment of the building includes Structured cabling system – CAT 7, power supply through two independent substations, 4 elevators, 24/7 CCTV system in the common areas, 24/7 physi-cal security. The building is in close proximity to the Presidency, the Council of Ministers building, TZUM, Central Bank’s Head Office, other bank institutions, restaurants and cafés. Services within the building: ONDA, fitness and spa center. Underground and open air parking available. GU

BUSINESS CENtER tZUMLocationLayoutfloor Plate SizeRentAvailability

2 Kniaginia Maria Louisa Blvd., 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

SoFIA towERLocationLayoutfloor Plate SizeRentAvailability

Stamboliiski Blvd./Opalchenska Str., broad centerOpen space490 sqm14 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 tenants with all the benefits of multiple business services, conference facilities, cozy cafés, restaurants and fitness center in close proximity to their corporate offices. GU

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ZLAtoVRAH LocationLayoutfloor Plate SizeRentAvailability

Zlatovrah Str., Lozenetz Open space/ Partitioned350 sqm7 Euro/sqmTenant Ready

This office building is located on Zlatovruh Str., adjacent to a residential develop-ment. The office part has a separate entrance. There are office units on the three floors aboveground with a floor plate of about 350 sq. m. each. Zlatovruh building features high quality finishing works and HVAC system. Server rooms are provided per each floor. 10 underground parking lots included in the rent. DB

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oFFICE BUILdING EStE

LocationLayoutfloor Plate SizeRentAvailability

Nikolay Haytov str.Open Space/Partitioned413 sqm — 1,276 sqm12 Euro/sqmTenant Ready

The office part of Este Home and Spa is located in Iztok district. The building offers 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

oFFICE BUILdING on VERILA Str.


5 Verila Str.Open space220— 260 sqm10 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

oFFICE BUILdING on totLEBEN Blvd.


Totleben Blvd. broad centerOpen 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

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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 among its main advantages. VG

oFFICE CENtER MANdARINLocationLayoutfloor Plate SizeRentAvailability

Nikola Vaptzarov Blvd.Open space633 sqm — 917 sqm9.5 + 2 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. The development is in close proximity to the Central Business District and the Airport and is now fully operational. GU

oFFICE CENtER EoSLocationLayoutfloor Plate SizeRentAvailability

Nikola Vaptsarov blvd.Open space 530 sqm 8.8 Euro/sqmTenant Ready

The building is located in an area developed as an administrative hub. Along with several office developments the Nikola Vaptsarov blvd. area features restaurants, a hotel, banks, number of cafeterias etc. The building features high category cabling and 24/7 physical security. VG

FLoRIdA oFFICE BUILdINGLocationLayoutfloor Plate SizeRentAvailability

Felitz Kanitz Str. and Geshov Blvd., broad centerPartitioned310 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 BUILdING oN SItNYAKoVo Blvd.LocationLayoutfloor Plate SizeRentAvailability

Sitnyakovo Blvd.Partitioned640 sqm6 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 20 sqm up to 500 sqm. Open–air parking lots are available. VG

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MAtRIx towER


Ring Road, Mladost IVOpen 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 underground 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

ALFA BUSINESS CENtER

LocationLayout floor Plate SizeRentAvailability

Ring Road, Mladost IVOpen space1,240 sqm8 Euro/sqm 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. DB

ALAdIN BUSINESS CENtERLocationLayoutfloor Plate SizeRentAvailability

Slivnitsa Blvd.Open space220-580 sqm8 Euro/sqmTenant Ready

Aladin Business Center is located at the crossroad of Europe and Pancho Vladi-gerov boulevards and offers great visibility and immediate proximity to a subway station. The project features contemporary finishing works such as raised floor, sus-pended ceiling, 4-pipe HVAC. Open-air parking is available next to the building. GU

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HIGH tECH EAStLocationLayoutfloor Plate SizeRentSales PriceAvailability

Tsarigradsko Shousse Blvd.Open space 9,180 sqm6 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

AVI BUSINESS CENtERLocationLayoutfloor Plate SizeRentAvailability

Tsarigradsko Shousse Blvd.Open space500 sqm9 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

AStRAL BUSINESS CENtER

Location

Layoutfloor Plate SizeRentAvailability

Christopher Columbus Blvd. and Prodan Tarakchiev Str.Open space722 – 922 sqm10 Euro/sqmQ1 2011

Astral Business Center is a class A, eye-shaped, boutique office building, located in one of the most attractive business areas in the capital city of Bulgaria – the Sofia airport area. The easy access by car to the central business district and to the main entrance arteries of the city is provided by a few independent routes. In close proximity are bus lines 84 and 284, as well as the newly-built metro station. The building distinguishes with “Double skin” façade, green roof, rooms with clear height 3.15 m as well as the high-quality finishing works and building systems. Areas` measurement is made according to the international standard ANSI/BOMA – net usable areas are leased. VG

IZtoK towERLocationLayoutfloor Plate SizeRentAvailability

G.M. Dimitrov Blvd., Musagenitsa RD, broad centerOpen space1,100 sqm7 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 available 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 accessibility by public transportation are important factors when considering Iztok Tower as a possible location for your office. DB

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colliers magazine16 office offers

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SoFIA AIRPoRt CENtERLocationLayoutfloor Plate SizeRentAvailability

Cristopher Columbus Blvd.Open space3,500 sqm 8 Euro/sqmQ1 2011

The Class A office building is located minutes from the new Sofia International Airport, and it is built to the highest international standards. Its flexibility supports a wide range of different global businesses. The building’s outstanding features include an efficient ‘H’- like shape that guarantees a low add-on factor and a high level of natural daylight through open atriums and double-glazed windows. The building’s winter garden and the lake in front of the building offer tenants an unparalleled cozy atmosphere. The energy-efficient Building Management System (BMS) monitors outdoor temperature and regulates climate controls with a state of the art Variable Air Volume HVAC system. 24/7 on-site security and CCTV offer occupiers peace of mind while the high ratio of underground parking spaces and many shuttle elevators to the garage offer easy access in and out of the building.AT

VARNA towERS LocationLayoutfloor Plate SizeRentAvailability

Suburban, VarnaOpen space560 — 700 sqm12 Euro/sqmTenant Ready

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.

LANdMARK CENtRE VARNA LocationLayoutfloor Plate SizeAvailability

Slivnitsa Str., CBDOpen space1,200 sqmTenant Ready

Located in the very heart of Varna, in close proximity to the City Hall and the Sea Garden, Land-mark Centre Varna offers flexible office solutions with superior specifications in a sophisticated, urban setting. The development is strategically located in the Varna Central Business District, while at the same time less than 10 minutes away from the international airport.The project features ground floor retail with frontage to the boulevard and five office levels above, providing 6,300 sqm of lettable premium office and retail space. The office section has a separate entrance with a spacious ground floor reception area. Underground parking for 72 cars on two levels provides safety and convenience for employees, while professional property management ensures an excellent working environment.Landmark Centre Varna is designed according to the globally recognized standards of the Building Owners and Managers Association (BOMA) for Class A office space. The unique combination of features and benefits in Landmark Centre Varna makes the project an excellent office solution for local, national and international businesses alike.

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.

find more opportunities on www.offices.colliers.bg

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BRUSSELS CENtERLocationLayoutfloor Plate SizeRentAvailability

Brussels Blvd.Open space1,300 sqm10 Euro/sqmTenant Ready

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 location, great visibility, fast connectivity to the city center and sufficient amenities on spot, including conference centre, hotel, restaurants and showrooms. VG

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The Green Building conference, or-ganized by the U.S. Embassy and AmCham Bulgaria, gathered more

than 220 participants in Hilton, Sofia. Rep-resentatives of the Bulgarian government, the American Embassy, high-level decision makers, specialists in green building tech-nologies and practices from the United States and the European Union attended the event. The forum, supported by Colliers International, presented successful green

building projects in Europe and the United States, green architectural design, energy-efficient and sustainable construction tech-niques and innovations. The conference aimed at raising awareness on the importance of green building, partic-ularly the benefits of energy efficiency and environmental sustainability, and provided a comprehensive view on the development of the green building industry and the resulting environmental benefits.

1: Atanass Garov, Bulgaira second from left to right, moderated the “Architectural design and planning for Green Buildings” panel2: Devin Saylor, Director of Colliers’ Sustainable Advisory Services was speaker at the event3: Rosen Plevneliev, Minister of the Regional Develop-ment and Public works, Anthony Hassiotis, Chairman of AmCham and H.E. James Warlick, US Ambassador in Bulgaria discuss how Bulgaria can become a leader in Green Building development.4: Green building will become increasingly important in Bulgaria and around the world, and the time is ripe for networking and learning about the possibilities that are on the horizon.

Green Building – A Sustainable Path to Energy Efficiency and Economic Growth

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colliers magazine18 trends

Devin Saylor has more than 15 years of real estate development and finance. She has been actively

involved in the U.S Green Building Council Chapters in Los Angeles, New York City and Northern California. Ms.. Saylor began her career in real estate with Arthur Andersen where she helped start the Real Estate Services Group in Hong Kong. She holds a Masters degree from the University of Southern California in Real Estate Develop-ment and Urban Planning.

Ms Saylor, at a recent Green Build-ing Conference, you presented the economic benefits of green buildings primarily from a US perspective. In your opinion, what are the differences in the European experience?In my opinion the drivers of green building are the same, regardless of geography, and can lead to the same benefits in any market. The main drivers of green building in the U.S are rising energy costs, growing concern over climate change, economic benefits achieved and tougher legislation.If world investors and tenants start valuing and demanding green space, Europe and the region will also feel these effects. In ad-dition, we are all affected by rising oil prices and increased greenhouse gas emissions encouraging us to change our ways. What I do believe will be the major differ-ence between the U.S and European green

building experience is time of market ac-ceptance and adoption.

What are the key benefits of investing in Green Buildings?The economic and financial benefits of green buildings are many. For developers and building owners, studies show that green buildings command higher rents, transact at higher prices, enjoy higher occupancy rates, have lower operating ex-penses, attract free marketing and publicity and protect the building’s future value.For tenants, benefits include greater worker productivity, healthier building occupants, lower occupancy costs (reduced energy/electricity, water and solid waste usage), improved corporate image, reduced costs in moving/relocating space. Studies are proving that there are signifi-cant economic savings attached to greater worker productivity, reduced absenteeism and decreased employee turnover. In fact, these benefits are likely to translate into the greatest savings for tenants and companies, as people, in the form of salaries, benefits and replacement costs, represent 70-80% of operating costs, much more substantial than energy (1%) and rent (7%) costs.

Are there any real estate segments that benefit the most from sustainable development?All real estate segments gain from the

benefits of green building. However, who and which assets gain most can vary significantly. In a market where the tenant is respon-sible for operating expenses like utilities, a tenant gains by having a lower cost of occupancy, whereas the building owner will marginally benefit from reduced operating expenses associated with common areas. However, the building owner should be able to command higher rent for this space, for the very reason that a tenant’s overall occupancy costs, which include rent and utilities will be less.In most markets, office projects are the most common assets to undergo green certification. Tenants and building owners are more likely to both benefit from green. In addition, there is greater awareness of green building benefits in this sector.

So far in Bulgaria, Green Buildings are predominantly associated with the commercial real estate segment. What explains this, and what would it take to place ‘green’ on the residential real estate development agenda?Residential projects will definitely benefit from green. However, there are many is-sues surrounding energy, mainly relatively low costs and poor tracking or accountabil-ity. For this reason, homeowners and rent-ers are largely unlikely to pay a premium for space in a green building which is a major disincentive for a developer to justify build-ing green.Bulgarian consumers have recently experi-enced an increase in the cost of energy and electricity; a trend that is anticipated to con-tinue into the future. This is good news for green building. Rising costs of energy and better and more accurate measurement of usage through meters and submeters will increase consumer demand for more energy efficient housing.Raising awareness and educating all sectors of the market is critical in advanc-ing green building adaptation, especially among residential users.

All real estate segments gainfrom the benefits of green building


devin Saylor,LEEd® AP, director Regional Initiative

for Sustainability & the Environment

PRojeCt nAme LoCAtion Size /GLA/ 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 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 region is very dynamic and continues to attract significant foreign investment. More than 110 retail and entertainment units, along with restaurants, food court and children’s playground complete the experience for both customers from the region and travelers passing through the city. In addi-tion 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

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

Developer: Carrefour

Investor:Assos Capital

The Carrefour Tsarigradsko Mall project is designed to be a shopping destination for the entire region, featuring more than 200 re-tail 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, Public, NEXT, New Yorker, Guess 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

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, Intersport, Humanic, Douglas and Arena Cinema.Property Management Services will be provided by Colliers International.

OPERATIONAL

Grand Plaza roussewww.grandplaza.bg

Rousse, Lipnik Blvd. and Tzar Osvioboditel Blvd. 37,500 sqm 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 and a multifunctional sports hall. 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.

2012

Mall Plevenwww.mallpleven.bg

Pleven, Sofia Blvd.,Mindilikov Square 17,500 sqm 400 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 re-tailers 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.

2011

BulGaria Mallwww.bulgariamall.bg

Sofia, intersection of Bulgaria Blvd. and Todor Kableshkov Blvd.

33,000 sqmmore 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 interna-tional and local brands. The diverse tenant mix includes retail 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.

2013

sofia rinG Sofia,South Ring Road 69,000 sqm 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 shopping mall with a 9.000 sqm hypermarket, a 6.000 sqm DIY store, more than 200 stores, cinema complex and a 3.600 sqm family entertainment cent-er. The adjacent IKEA store with has GLA of 28,000 sqm. The other part to the northern edge of the park will include residential towers and private compounds.

2013

colliers magazine20 retail projects

PRojeCt nAme LoCAtion Size /GLA/ 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 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 region is very dynamic and continues to attract significant foreign investment. More than 110 retail and entertainment units, along with restaurants, food court and children’s playground complete the experience for both customers from the region and travelers passing through the city. In addi-tion 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

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

Developer: Carrefour

Investor:Assos Capital

The Carrefour Tsarigradsko Mall project is designed to be a shopping destination for the entire region, featuring more than 200 re-tail 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, Public, NEXT, New Yorker, Guess 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

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, Intersport, Humanic, Douglas and Arena Cinema.Property Management Services will be provided by Colliers International.

OPERATIONAL

Grand Plaza roussewww.grandplaza.bg

Rousse, Lipnik Blvd. and Tzar Osvioboditel Blvd. 37,500 sqm 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 and a multifunctional sports hall. 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.

2012

Mall Plevenwww.mallpleven.bg

Pleven, Sofia Blvd.,Mindilikov Square 17,500 sqm 400 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 re-tailers 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.

2011

BulGaria Mallwww.bulgariamall.bg

Sofia, intersection of Bulgaria Blvd. and Todor Kableshkov Blvd.

33,000 sqmmore 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 interna-tional and local brands. The diverse tenant mix includes retail 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.

2013

sofia rinG Sofia,South Ring Road 69,000 sqm 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 shopping mall with a 9.000 sqm hypermarket, a 6.000 sqm DIY store, more than 200 stores, cinema complex and a 3.600 sqm family entertainment cent-er. The adjacent IKEA store with has GLA of 28,000 sqm. The other part to the northern edge of the park will include residential towers and private compounds.

2013

to learn more about any of the projects call + 359 / 2 976 9 976 or write [email protected] 21

The first “REALISING THE POTENTIAL - Bulgaria on the Outsourc-ing and Off-shoring Map” conference, which took place on 11th of November, 2010 in Sofia, Bulgaria, turned into a truly engag-

ing and successful industry exchange. The one-day event gathered more than 300 international and local delegates - high ranking gov-ernmental officials, prominent experts and senior executives, who shared valuable experience and engaged in a forward-looking dis-cussion about Bulgaria’s potential as an outsourcing and off-shoring location. The conference was organized by the American Chamber of Commerce in Bulgaria (AmCham) and the governmental InvestBul-garia Agency, in cooperation with Colliers International.Keynote speakers and attendants of the event included Traycho Traykov, Minister of Economy, Energy and Tourism; Rossen Plevneliev, Minister of the Regional Development and Public Works; Krassimir Popov, deputy-minister of Labor and Social Policy. Amongst the prom-inent speakers were senior representatives from McKinsey & Com-pany, AES, Hewlett-Packard, TMF, Johnson Controls, OPI, Adecco, SAP Labs and Colliers International.“One of the key objectives of AmCham is to support the government in positioning Bulgaria as an attractive investment destination. The

event was an excellent opportunity for international companies to meet and network with Bulgarian companies and to explore the po-tential of Bulgaria as an outsourcing and off-shoring location”, com-ments Valentin Georgiev, Excutive Director, American Chamber of Commerce in Bulgaria.“Bulgaria has three major advantages: the location and cultural proximity to key markets, its political and macroeconomic stability and the qualified human resources and talent. It is our responsibility to ensure that the perception of Bulgaria reflects the benefits that our country offers”, noted Borislav Stefanov, Head of InvestBulgaria Agency, who was also amongst the speakers at the conference. “Bulgaria has a great opportunity to become a niche player in Eastern Europe and to be known for specialized skills adding value to business operations and development”, said Atanas S. Garov, Managing Direc-tor of Colliers International, Bulgaria. According to him, services with highest development potential include IT, engineering, research and development (R&D). He noted that employees in the outsourcing and off-shoring industry in Bulgaria which at present are some 10,000-15,000, could potentially reach 100,000 within five years if there are concentrated efforts to attract investors and major service users.

Ministers and the business discuss Bulgaria’s potential as an Outsourcing and Off-shoring destinationTHE FIRST “REALIZING THE POTENTIAL - BULGARIA ON THE OUTSOURCING AND OFF-SHORING MAP” CONFERENCE IN SOFIA, BULGARIA GATHERS MORE THAN 300 INTERNATIONAL AND LOCAL DELEGATES

“Bulgaria can become the silicon valley of the Black sea with the united efforts of the business, the government and the academia. in order to become a leading outsourcing/offshoring (o&o) destination by 2020, the country needs targeted demand and talent development/attraction initiatives, such as raising funding from public and private sponsors; improving suitable talent availability; identification of focus areas for the local o&o players; structural changes to the educational system, setting up a Bulgarian expats regain programme and assuring a highly reliable, cost-effective enabling infrastructure”Detlev Hoch, Senior Partner, McKinsey and Company, Düsseldorf

“Bulgaria can develop its outsourcing and offshoring sectors not so much through advertising low-cost, but through high knowledge and competence” Dr. Peter Peters, Senior Partner, McKinsey and Company, Düsseldorf

„When choosing an outsourcing/off-shoring provider, the financial offer is not always the most important decision factor. the partnership should be viewed as an extension of the company’s team, and relation-ships are of crucial importance. of course, the quality of the services, the infrastructure and communica-tions, and the business environment are also es-sential factors, as well as local government’s support: developing university programs focused on outsourc-ing, providing incentives to business, sponsoring

educational programs and helping local companies define the opportunities to leverage language skills and cost optimization”Elizabeth Hackenson, Senior Vice President and Chief Information Officer, AES Corpora-tion, USA.

“in order to be a country of preference for the out-sourcing and off-shoring industry, Bulgaria needs to invest not only in infrastructure, quality of service and education but also to encourage innovative business projects and entrepreneurial skills, as well as ensure that there is a strong government commitment to this cause”.Sasha Bezuhanova, Director, Public Sector CEE, Hewlett Packard

SELECTED QUOTES FROM THE CONFERENCE SUMMARIZING KEY FINDINGS

colliers magazine22 opportunities

“There is a huge gap between the cur-rent number of employees engaged in the Outsourcing and Off-shoring indus-

try, and what could be realized in the next three to five years. Our belief is that employ-ees in this industry in Bulgaria, at present some 10,000-15,000, could reach 100,000 if there are concentrated efforts to attract investors and major service users”, said Atanass Garov, Managing Director of Colliers International, Bulgaria at the first “Realizing the Potential - Bulgaria on the Outsourcing and Offshoring Map” conference, which took place in Sofia on November 11th, 2010. Garov identified IT services, engineering ser-vices, research and R&D as the outsourcing services and off-shoring potential where Bulgaria has a competitive advantage, in the context of Central and Eastern Europe (CEE).“Such industries, which require analytical and mathematical skills, are the ones in which Bulgaria has talented labor force. Our belief is that Bulgaria has a great opportu-

nity to become a niche player within CEE and to be known for specialized skills adding value to business operations and develop-ment.”, said Garov.Despite the small size of the Bulgarian mar-ket compared to other markets in the region, such as Poland, Romania or Ukraine, Garov believes Bulgaria has a huge potential to boost its outsourcing services and off-shor-ing appeal. The analytical skills, language skills, cultural and geographic proximity to feeder markets, stable business and legal environment, highly advantageous tax rates, are amongst Bulgaria’s attractions and the basis of competitiveness in the context of CEE. “We have to position ourselves as a niche player rather than a mass player – then I be-lieve we will have a very good opportunity to attract investors and have a good standing compared to the other CEE countries.” According to Garov, Bulgaria’s legislative and tax framework are favorable for the country’s outsourcing and off-shoring ap-peal. Bulgaria’s legislature is largely syn-chronized with the European Union stan-dards, while tax rates are some of the lowest in the Europe.“Most companies searching for outsourc-ing and off-shoring opportunities in CEE are looking at this region dominantly for servic-ing European customers, therefore Bulgaria being part of the European Union is condu-cive for this. Of course, there are always ar-eas for improvement in the legislature but there is no major flaw,” Garov said. The largest hindrance and the biggest rea-son why Bulgaria has not managed to real-

ize its potential yet is because there have been no industry-wide concentrated efforts towards positioning the country as an attrac-tive destination for outsourcing and off-shor-ing, said Garov. Furthermore, efforts should be made in educational programs that could source and develop talent, suitable for the outsourcing and off-shoring industry. Such effort should come both from the govern-ment and the business, preferably both working together, he added.Garov noted that the outsourcing and off-shoring industry can provide numerous high-ly skilled job opportunities and appealing career paths to young graduates in Bulgaria. “Some of the multinational companies in the outsourcing and off-shoring field in Bulgaria have already managed to attract back young Bulgarians from abroad. This is another good pocket of talent, which should be fur-ther explored, as the industry grows. These multinationals bring a lot of know-how, and career opportunities,” Garov said, adding that he sees the outsourcing and offshoring industry as key economic driver for Bulgar-ia’s economic growth. “This industry covers a lot of sectors, such as pharmaceuticals, IT, banking, energy, telecommunications, and others. The industry could turn into an important incubator for new home-grown companies that could one day compete on the global market. Investing into positioning Bulgaria on the global outsourcing and off-shoring map, and bringing investments will be an important boost to the growth of the Bulgarian economy, both in the short to me-dium term, but also in the long-term.”

Bulgaria has to position itself as a niche player rather than a mass playerTHE HEADCOUNT IN OUTSOURCING SERVICES AND OFF-SHORING INVESTMENTS IN BULGARIA COULD GROW TO 100,000 FULL-TIME EMPLOYEES WITHIN FIVE YEARS, ACCORDING TO ATANASS GAROV, MANAGING DIRECTOR OF COLLIERS INTERNATIONAL, BULGARIA.

Courtesy of SeeNews


PRojeCt nAme LoCAtion tyPe AnD numBeR of unitS Size AmenitieS Key BenefitS

ReSiDentiAL PARK SofiAwww.residentialpark–sofia.com

Malinova Dolina, above the ring road, on the opposite side of BPS

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, supermarket, playgrounds, fitness and swimming pool, party hall, kinder garden, bank, café, restaurant, pharmacy

A project with a concept, providing safety, comfort and high standard of living for the whole family. Very communicative location, 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.

mount viewwww.mountviewsofia.com

Vitosha district,next to Simeonovsko shousse, just behind Maxi complex

2 residential buildings with 128 apartments in total

apartments 44 – 160 sqm

Swimming pool and fitness, green areas, children play-ground, 24 hour security, controlled access, property man-agement, underground parking

Within 15 min. from the city center and 20 min. from Sofia international airport. Close to the mountain. Already completed. High quality finishing works and built–in kitchens with appliances. Sports amenities within the complex.

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 – 354 sqm

Modern architecture, high quality materials, state–of–the–art finishing works of the common areas

At the heart of the mountain, impressive panorama view, very communicative lo-cation, experienced developer, comfortable and secure environment with beauti-ful landscaping

SofiA SKy www.sofia–sky.com

The prestigious Simeonovo dis-trict, Simeonovsko Shousse

detached houses, row houses and apartments

detached houses – 434 sqmrow houses – 224 – 338 sqmapartments – 59 – 164 sqmmaisonettes from 226

24 hour security, property management, green areas, play-grounds, parking

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 apartments. Energy efficient design and construction. Developed infrastructure

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 finishing works. Professional property management

LAGeRA tuLiPwww.lageratulip.bg

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

apartments36 – 198 sqm

Retail areas, underground parking, recreational facilities, children playgrounds, and luxuriant gardens; high – quality installations, video intercom and reinforced doors

Excellent location in proximity to the city center. Convenient access by public transport. Provided with a retail and entertainment area. Shops, schools, kinder-gardens in the vicinity. Modern finishing works.

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

apartments – 66 – 158 sqmoffices – 69 – 180 sqm

Underground parking places. Shopping mall (mall of so-fia) and open market in close proximity. Restaurants, cafés and many shops in the vicinity.

Within walking distance to the city center. Communicative location. Easy accessi-bility by car and public transportation. Many amenities in close proximity

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

apartments – 69 – 195 sqm 24 hour security, underground parking places, park area. Many restaurants and cafes in close proximity.

Located in a fast developing area. Close to major traffic arteries (the Ring Road and Simeonovsko shosse). In proximity to Borisova Garden park and Vitosha Mountain. Splendid mountain views

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 apartments – 70 – 350 sqm

24 hour security, underground parking places, medical center, supermarket, restaurants and shops in the com-plex, zoo in the close vicinity

Communicative location. Available parking places. The complex offers multiple amenities. In proximity to Loven Park.

BotAniKAReSiDenCe

Boyana District, right next to the Botanical garden

10 residential buildings with 213 apartments in total. Studios of different sizes, apartments and maisonettes.

apartments – 50 – 200 sqm Medical center, spa center, restaurant, supermarket, kinder-garten, security and controlled access

Upon completion the complex will have a dynamic, community area, offering vari-ous services to the residents. Lots of green areas. Sufficient number of garages. Wonderful views to the mountain and the city.

colliers magazine24 residential projects

PRojeCt nAme LoCAtion tyPe AnD numBeR of unitS Size AmenitieS Key BenefitS

ReSiDentiAL PARK SofiAwww.residentialpark–sofia.com

Malinova Dolina, above the ring road, on the opposite side of BPS

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, supermarket, playgrounds, fitness and swimming pool, party hall, kinder garden, bank, café, restaurant, pharmacy

A project with a concept, providing safety, comfort and high standard of living for the whole family. Very communicative location, 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.

mount viewwww.mountviewsofia.com

Vitosha district,next to Simeonovsko shousse, just behind Maxi complex

2 residential buildings with 128 apartments in total

apartments 44 – 160 sqm

Swimming pool and fitness, green areas, children play-ground, 24 hour security, controlled access, property man-agement, underground parking

Within 15 min. from the city center and 20 min. from Sofia international airport. Close to the mountain. Already completed. High quality finishing works and built–in kitchens with appliances. Sports amenities within the complex.

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 – 354 sqm

Modern architecture, high quality materials, state–of–the–art finishing works of the common areas

At the heart of the mountain, impressive panorama view, very communicative lo-cation, experienced developer, comfortable and secure environment with beauti-ful landscaping

SofiA SKy www.sofia–sky.com

The prestigious Simeonovo dis-trict, Simeonovsko Shousse

detached houses, row houses and apartments

detached houses – 434 sqmrow houses – 224 – 338 sqmapartments – 59 – 164 sqmmaisonettes from 226

24 hour security, property management, green areas, play-grounds, parking

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 apartments. Energy efficient design and construction. Developed infrastructure

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 finishing works. Professional property management

LAGeRA tuLiPwww.lageratulip.bg

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

apartments36 – 198 sqm

Retail areas, underground parking, recreational facilities, children playgrounds, and luxuriant gardens; high – quality installations, video intercom and reinforced doors

Excellent location in proximity to the city center. Convenient access by public transport. Provided with a retail and entertainment area. Shops, schools, kinder-gardens in the vicinity. Modern finishing works.

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

apartments – 66 – 158 sqmoffices – 69 – 180 sqm

Underground parking places. Shopping mall (mall of so-fia) and open market in close proximity. Restaurants, cafés and many shops in the vicinity.

Within walking distance to the city center. Communicative location. Easy accessi-bility by car and public transportation. Many amenities in close proximity

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

apartments – 69 – 195 sqm 24 hour security, underground parking places, park area. Many restaurants and cafes in close proximity.

Located in a fast developing area. Close to major traffic arteries (the Ring Road and Simeonovsko shosse). In proximity to Borisova Garden park and Vitosha Mountain. Splendid mountain views

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 apartments – 70 – 350 sqm

24 hour security, underground parking places, medical center, supermarket, restaurants and shops in the com-plex, zoo in the close vicinity

Communicative location. Available parking places. The complex offers multiple amenities. In proximity to Loven Park.

BotAniKAReSiDenCe

Boyana District, right next to the Botanical garden

10 residential buildings with 213 apartments in total. Studios of different sizes, apartments and maisonettes.

apartments – 50 – 200 sqm Medical center, spa center, restaurant, supermarket, kinder-garten, security and controlled access

Upon completion the complex will have a dynamic, community area, offering vari-ous services to the residents. Lots of green areas. Sufficient number of garages. Wonderful views to the mountain and the city.

for more residential information and properties, visit our dedicated website at www.colliers-residential.bg 25

Colliers International ви пожелава успешна нова 2011 година

Colliers International wishes youAccelerating success in 2011

colliers magazine bulgaria english

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