The General Manager of Business Park Sofia 2 Rosen Plevneliev: The complex has created new environment that is yet to develop and enrich

There are hardly people in Bulgaria who could fit the concept of real estate developer as does Rosen Plevneliev, the man who led the project for the so far largest integrated business complex in Southeast Europe from the purchase of the land from hundreds of owners through the planning process and the construction of the first buildings up to the sale of the entire scheme in 2006 and its virtual completion after a year. He still works at German company Lindner and heads the development of Residential Park Sofia, a gated community complex located on the ring-road just opposite the business park in Sofia’s Mladost neighborhood.

Mr. Plevneliev, you received the Audience Award of the National Contest Building of the Year 2007. What do you think helped you win?
- Business Park Sofia is a very special project not only for the area of Mladost but for the entire city and the country as well. It has changed Sofia in a positive way by infusing energy into our capital and establishing a platform for business, which has not existed in Bulgaria so far. We are not surprised at the fact that we won the prize of the audience as we are proud that Building 5 has been rated the best by a great number of people, not only by the experts in the jury. Business Park Sofia has created 10,000 jobs and has attracted billions euros of investments. There is no other project like it in Sofia.

Business Park Sofia has dominated the office market in Sofia for many years. What changes with its completion and what is its future?
- Business Park Sofia still dominates the office market in Sofia. The complex has turned into core area around which another 18 office buildings are currently planned or under construction. So far it is the only effective suburban business district, where new jobs are created, highways, metro stations and shopping centers are developed. In the next 3 to 5 years we will probably see the development of other commercial complexes in the areas of the airport, Tsarigradsko Shose Blvd. and Lyulin of which the city will benefit.
Business Park Sofia is unique in its concept and implementation and this is something that will not change. The complex defines new environment, which is yet to develop and enrich. There are more services to come, more various events to be held and life here will surely become more interesting. Besides, it will be the only complex in Sofia where no new construction is expected in the next 5 years. I deem that Business Park Sofia won’t have an alternative for some time to come.

When do you see the end of cycle of office rent rises in Sofia?
- I expect this cycle to come to an end as of the end of 2009 at the latest, as the market will be supplied with many office buildings and commercial centers that are currently designed or are under construction. These will bring the market to a normal state. I expect that rents will stabilize at between 14 and 20 euro per sq m per month in the city center and between 8 and 14 euro per sq m in business locations outside the center.

Is sustainability on the agenda of Bulgarian developers considering both the direct effects of construction and the efficient use of resources like water and energy?
- It is definitely not. Developers are still chasing quick profits. Few of them try to adopt long-term strategies. Respectively, it is clear that just a scarce number of people really think of the effective use of resources and environmental protection.