Bulgaria's capital to see the construction of seven sky scrapers

Property Wise Magazine, 2007-05-02

     Sofia will see work on seven skyscraper projects in 2007, Standart daily reported. Sofia municipality already received the needed documents for the setting up of these projects and launched the procedures.
     The majority of new developments will be part of already existing business parks. Two of the projects will be carried out in Business Park Sofia, one will be constructed in Mladost-4 residential district and one development will be set up in the area close to the Central Railway Station.
     Another development still expects a construction permit. The skyscraper will appear on the place of the demolished Ropotamo restaurant.
     A plot has been purchased for the construction of a similar project in Zaharna Fabrika residential district. Receiving permit for such construction is timely, Standart reported. The procedure can last up to two years.
     Finding a construction company to carry out skyscraper construction in Bulgaria is also difficult. High buildings turn out to be 30 to 50 per cent more expensive and their maintenance costs 40 per cent more than the one of an average construction.
     As a result, companies willing to rent offices in Sofia's skyscrapers should be ready for higher prices, the report said.

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