As the general manager of one of the largest real estate investment companies in the country, how do you assess the state of the market at the moment?
The real estate market in the country is currently stable and up for grabs. There is an increasing demand for residential areas as well as a stronger insight into office areas. Industrial logistics projects also have significant growth.
The trend, which I personally appreciate as very positive, is that consumers are increasingly knowledgeable and educated, and are looking for an increasingly luxuriously well-executed construction quality. In the residential areas, the buyer is looking for a good location, a good functional architectural design and, last but not least, a quality construction. In the office areas, flexible spaces, high-tech solutions and sustainability certificates are added to these parameters.
What are your predictions for the next year?
Given that 2017 was the best year for the property market in the last decade, I believe that this steady growth will be maintained for the next two years, albeit at a more moderate pace. Business indicators, such as GDP and income growth, low unemployment, and still low interest rates on mortgage loans, show that the upward trend will continue.
Europroperty can boast of its diverse portfolio of projects and, above all, the strong presence of residential complexes in the Boyana district of Sofia. Are there plans to launch similar new projects there, as well as other parts of the city?
Yes, that is, our portfolio of residential projects is very large and varied. We strive to cover all segments of the housing market - luxury, medium and low-priced. For example, our Edelweiss 3 project in Boyana consists of large, spacious housing with high quality building materials and performance, and is geared towards the luxury segment of the market. At the project level we are working on another big project, again in Boyana - Fohar, which will be in the middle price segment. There the apartments will be a bit more efficient as spaces and more economical, of course not at the expense of quality. These apartments will be tailored to the needs of young people and families and will be prepared with a number of "smart" solutions. We will soon be able to advertise the project officially to the audience and will be able to tell you much more about it.
I mentioned the low price class - we are also preparing another major project, which will develop on almost 200 decares and will consist of several thousand apartments. Our ambition is to build a project to provide a nice, comfortable living environment at an extremely affordable price.
Office and business buildings are also part of Europroperty's long-standing work, what new can we expect from the company in this segment?
In the office segment we are building a project called Sofia Office Center, which is located on Tsarigradsko Shousse just next to Inter Expo Center. It consists of two office buildings, one about 25 000 sq.m. and the second one with about 31 000 sq.m. Total built - up area. The first building is under construction and will be ready in the middle of 2019, and the second is still on the project level. Our buildings are functional, flexible and adaptable to the needs of modern business. Sofia Office Center is the first business center registered for BREEAM certification (N BREEAM-0067-1826) on the NC 2016 system at EXCELLENT level.
You manage an extremely serious and risky business, what is your "secret" to success?
The keys here are absolutely applicable! I will not be surprised if I say hard work and good organization of tasks and time. But I would add a good team. I strongly believe that a manager is a successful professional as if he/she manages a successful and professional team!