Monday, July 16th, 2007
Commercial projects in Bulgaria offered for “off-plan” sale
An emerging trend on the Bulgarian business property segment is the marketing to buyers of projects at the design stage,local realtors said, as quoted by Dnevnik Daily. Everything is sold right off the drawing table before even the first sod of ground is turned, said Krasimir Dimitrov from Source Real Estate.
A crucial deal-maker for the buyers is for the respective project to have passed all relevant administrative procedures like rezoning, planning approval, etc. The latest large-scale property to be transacted at the design stage is the 100 million euro Mall Plovdiv sale to GE Real Estate and Quinlan.
The list of major projects transacted so far in 2007 includes also Mall Varna (Varna), Megapark Soravia (Sofia), Business Park Varna (Varna), Porsche Center (Sofia) and Hypermarket Technolux (Pleven). The combined price exceeds 400 mln euro.
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