Bulgarian Office Space market sees rapid growth
March 29th, 2008 | by Simon Rattray
According to the MBL consultancy report, the Bulgarian capital of Sofia had very strong Q4 in 2007. There was over 700,000 sq m of grade A and B office space in stock by the end of last year.
This is in addition to over half a million square feet of office space being under construction in 2008, much of which was in suburban regions and so not just the very centre of the capital. These new developments are indicative of the strong growth in the emerging office space markets. Eastern Europe, South America and Africa are regions that have experienced particularly rapid growth.
This should present a great opportunity for the major serviced office providers who can provide office space to the increasing number of western companies who are setting up in these regions. The burden of arranging furniture, utilities, and IT etc in another country should allow for the serviced office industry to really prosper.
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