The rise of the IT and outsourcing powers the demand and construction of Class A office properties
The good news on the real estate market continue. The first half of 2017 was excellent for a segment that directly reflects the condition of the Bulgarian economy – office properties. The stable development of the IT and outsourcing sector in Sofia sustains an intensive demand for adequate office spaces. According to a Colliers analysis, in the first 6 months of the year the rented office properties have increased with 64 percent in comparison with the same period of 2016, with 43 percent being rented while still at construction stage. Of the companies that had rented office spaces for the period, 67 percent work in outsourcing.
These industries' needs for quality Class A offices led to the beginning of the construction of several expansive projects in the capital. Some of the most impressive are concentrated on Tsarigradsko Shose Boulevard, around Sofia's exit, attracted by several favourable factors: free plots for building and easy access to a metro station and road infrastructure. It is hardly a coincidence that this part of Sofia was quickly unofficially called "the business city."
Quality is the main engine moving current clients on the office property market in Sofia. Tellingly, according to the Colliers analysis, the class A offices make only 25 percent of the free office spaces during the first half of 2017. Besides modern technologies and maintenance guaranteeing a trouble-free working process, the tenant companies look for harmonic environment meeting the highest criteria for sustainability, energy efficiency and aesthetics, which also provide the employees with amenities like entertainment, relaxation and sport zones, and even greenery.
Ellipse Center (www.ellipsecenter.com) is an interesting and visible class A business building that will inevitably attract your gaze on the Sofia's exit on Tsarigradsko Shose Boulevard. With a height of 50m, tilted and with a mirrored facade (in the process of glazing), the tower is a modern business building with high energy efficiency, extensive greenery, and meeting the parameters of highest class buildings. It is intended mainly for IT and outsourcing tenants, who are the main engine of the current market. For their trouble-free work are provided a backup diesel generator, high-speed lifts, 16cm double floor, UPS, system for access control, CCTV and others. There are shopping spaces and a restaurant with a spacious terrace as well, also for renting. The aim is the creation of a complex system of services and solutions which do not limit the stay in the building for business purposes only. The worklax approach (from work and relax) is innovative and offers a combination of work and relaxation in stressful moments, and an opportunity for more unorthodox work meetings, creating conditions for increased efficiency of the working process and the productivity as a whole. The worklax solutions will be at the first subterranean floor of the building, and on the upper floors there will be options for sports corners. The first floor restaurant has an incredible green terrace with unique panorama. On the ground floor there will be a vertical garden, parkings for bicycles and charging stations for electric vehicles. The goal of Ellipse is to offer a sustainable, green, functional space, providing comfort and security to its inhabitants, and harmony to the environment.
The modern office is something more than a building. It meets the contemporary criteria for responsible construction and is a space that inspires the employees and improves their efficiency. On the Bulgarian market is already a project that aims to meet the latest requirements for an office building – and achieves them. Sofia Office Centre is a project by Europroperty (phone: +359 895 55 73 07, www.europroperty.bg), which will be completed in 2019. Located on Tsarigradsko Shose Boulevard, close to a metro station and the business city, Sofia Office Centre is a complex of 2 buildings on a plot of 1.2 hectares. The total built up area is 57,000 sq.m, of which 43,000 sq.m are rented. On this space the client who is after the highest quality, will have not only the option for an office furnished in accordance with his individual wish, and amenities like conference rooms, gym, relaxation zones, restaurants and cafes. Sofia Office Centre offers much more: exceptional energy efficiency, innovations, top quality materials. It is hardly a coincidence, then, that Sofia Office Centre is one of the first business complexes in Bulgaria applying for the prestigious British certificate BREEAM 2016: Excellent, Offices category. For the lucky ones, whose offices will be in the complex, is the pleasure to work in a true piece of art.