Prospects for Industrial Space Construction in Bozhurishte, Elin Pelin, Ravno Pole

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Prospects for Industrial Space Construction in Bozhurishte, Elin Pelin, Ravno Pole

Bozhurishte, Elin Pelin and Ravno Pole are one of the most prospective areas for the setting up of industrial parks, Simeon Mitev owner of ReMax, said at the BalREc conference.

The construction of industrial space is currently shifting from downtown Sofia to the outskirts of the city due to the unreasonably high prices, according to Mitev.

The price of land along Sofia's ringroad currently starts at 50-60 euro per m2, which is twice as high compared to Romania.

The demand for industrial space in Vidin has also picked up considerably in the recent months due to the construction of the Danube Bridge – 2. The demand is also brisk in Ruse, Burgas and Varna.

Industrial space rents in Sofia stand at 3.8-5.5 euro per m2. The industrial space amounts to 165,000 m2 but new 191,000 m2 of industrial space will be launched on the market within the next few years.

Rent prices in Romania stand at between 4-5 euros per m2 and are even higher in Bucharest, according to Vlad Dumitrescu of Prologic.

A total of 30% of the industrial space under construction in Bucharest has already been leased, while the volume of the total space amounts to 501,000 m2.

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