Sun, Nov 22 2009

European Trade Center to be ready in 2010

Tue, Jun 03 2008 15:32 CET bywww.propertywisebulgaria.com 251 Views

European Trade Center, an office complex whose construction is already underway on Tsarigradsko Chaussee in Sofia, would be completed in 2010 and should bring seven per cent return on investment, investors in the project told reporters on June 2, as quoted by Dnevnik daily.

The complex would have a total built-up area of 70 000 sq m, making it one of the largest in Bulgaria and comprising a tenth of modern office space currently available on the market, Colliers International, the consultant of the project, said.

The floorage of the five buildings in the complex would vary from 7 000 to 23 000 sq m. One of them would fall in the skyscraper category with a height of 65 m, chief architect of the complex Ilian Iliev said.

All buildings would be built in line with high energy efficiency requirements and would offer class A office space.
 
One of the five buildings has already been rented out, Anton Slavchev of Colliers International said, as quoted by Dnevnik daily. The average rental would be 14.5 euro per sq m, which is within the current going rate of 12 to 18 euro per sq m.

The complex adjoins the trade-entertainment complex of Carrefour, whose construction is also underway. The complex was recently sold to Greek Assos Capital.

Alongside Carrefour, the complex would be among the largest in Sofia sprawling on a total acreage of 5.35 hectares. It includes three underground levels of parking lots.

Write comment

Name:Comment:

Generate new code
Send your comment
Carrefour, Vivacom confirmed as tenants of European Trade Centre in Sofia

The European Trade Centre has five class A office buildings with a total area of 70 000 sq m. Colliers International is the consultant on the 70 million euro project

More in this category

New modern marina worth 24M leva to be constructed in Pomorie

The Black Sea town of Pomorie has approved a proposal for the construction of a spacious and modern marina, with a capacity of over 600 yachts and small passenger ships.

Construction sector in Europe continues to decline

Over the course of a year, from one of the leaders in Europe in new construction, Bulgaria became one of the countries currently quagmired at the bottom of the table and was now amongst the three worst hit countries, along with Romania and Slovenia.

Bulgarian Property Developments begin construction of 12.6M euro logistics park in Rousse

The park is posed to act as an economic stimulant in the region, creating a modern infrastructural base for companies. It is set for completion by Q3 of 2010.

Discounter chains Penny Market, Plus open stores in Bulgaria

Both retailers target at least 50 outlets in Bulgaria by the end of 2010.

The big question

When will Bulgaria’s real estate and construction sector recover?

© 2000-2009, Sofia Echo Media Ltd.

Web Design by RIZN

Sofia Echo Media is part of the Economedia Group.
The news and information content on this website is provided by our editorial team and is copyrighted. Any unauthorised reproduction or use of it is strictly forbidden. Reproduction of this website's content is permitted only with prior written permission from the Editor-in-Chief, should be propertly acredited and provide an active link back to our site. Comments posted by the website's visitors are independent of the editorial materials and do not represent the views of sofiaecho.com. Sofia Echo Media cannot be held responsible for the statements contained in visitor comments. The percentаge change in the shares' prices are based on the price of the last transaction of the current session compared to the price of the last transaction of the previous session. Bulgarian Stock Exchange data is not real-time, but updated every 15 minutes, and should not be used as a basis for decisions about buying or selling stock options.