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Office production to drive Sofia real estate growth

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Office production to drive Sofia real estate growth

by Nick Massey
September 9, 2022
in Construction
0

Bulgaria’s non-residential production market is ready to grow in 2019 and 2020. According to the Eastern European Construction Forecasting Association (EECFA), workplace creation will be the important motive force and is anticipated to boom through over 10 percent on common between 2019 and 2021. Office-related creation is specifically concentrated within the capital Sofia. The present workplace space amounted to two million rectangular meters at the quit of 2018, with a similar four hundred,000 rectangular meters set to be finished earlier than 2021.

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The metropolis is an attractive vacation spot for corporations that benefit from a favorable mix of skilled young human beings, competitive labor costs, and rent tiers to set up and amplify in spheres connected to information generation, commercial enterprise manner outsourcing, and shared services. However, demand may additionally attain its logical barriers within the future due to a shortage of professional labor, the expanded application of AI answers, and the converting behavior of workplace employees looking for more bendy and remote workspaces.

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