Business Park Sofia Further Strengthens Its Position in the Bulgarian Office Market - Seite 2

Its open space office floors with areas of 3,050 square metres, combined with a large structural span, provide flexibility to tenants of various requirements. The open atrium in the inner part of the building and the open park which will be designed on the roof top of the building will allow tenants to have more recreational space while enjoying the natural surroundings.

The increased demand for high quality office spaces located in a friendly and safe urban development has required an expanded vision for BPS, the largest business park in Central and Eastern Europe, and a leading business location with its multifunctional high-tech infrastructure. The office market appears to be well short of supply for class "A" schemes. "The vacancy rate at BPS has been less than 1% for the past 18 months; it has never been so low," Moskov said. "The overall market has picked up through an increase in re-letting and new leasing activities," Moskov explained in his summary of market conditions. "Take up has grown significantly, and CBD pre-leases are becoming a trend. In the past few years, new office buildings were either almost fully rented through pre-leases or by the first few months after opening, at the latest," Moskov commented. Arco Capital's real estate arm manages approximately 200,000 square metres of built up area and more than 150 tenants, making it one of the largest property managers in the CEE region.

"These leasing transactions coupled with the construction of our newest building, demonstrates BPS's strong position as the leading real estate player in the Sofia, Bulgaria and regional office market. They are also fully in line with our overall strategy of being opportunistic as to new investments and further improving cash flows through active asset management" said Moskov.

Notes to Editors:

Business Park Sofia (http://www.businesspark-sofia.com) is the largest office park in Central and Eastern Europe and was the first business park in Bulgaria. The facility accommodates some of the most successful businesses in diverse industries.  The park is designed to provide efficiency, flexibility and convenience to corporate tenants of any size and scope. It is a genuine multifunctional high-tech business park, which combines essential business components and related sectors in a vibrant and sustainable community.