Bulgaria property heading up

Real estate in Bulgaria is aiming high as the ground is broken in Sofia for the building of the country’s first skyscraper. The building is being developed under the co-operation of designers and architects from the UK and Bulgaria, and is being built by Fort Knox – a joint Ukraine, Russian and Bulgarian construction company.

This commercial property in Sofia will sit 36 storeys above the city and will be the tallest building in Bulgaria and the Balkans. At a cost of over €60 million and expected to take two years to complete, the attending Development Minister, Rosen Plevneliev, admired the ambition and conviction of the developers in such an uncertain financial world, in particular for their belief in the Bulgarian market.

The news comes at a good time for office investment property in Bulgaria, which has seen any number of postponed and cancelled projects over the past year. The project will also ensure a rise in interest, and potential value, of property surrounding the development, which is located close to the Metro hypermarket on Tsarigradsko Shose Blvd.