Latest news


In real estate since 1993

22 years

of experience

employees work in all our companies



In more than 210 locations


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  • 29jan

    Forton chosen as an exclusive advisor and letting agent on Sofia Airport Center

    Tishman International Companies ( has appointed Cushman &Wakefield ( and its Bulgarian associate Forton International as an exclusive advisor and letting agent on its first project in Sofia, Bulgaria – Sofia Airport Center (SAC).

    The proposed business park will be the first in Sofia to offer office and warehouse space in excess of 115,000 m2, and will be constructed over the next two or three years. It is located about 300 m away from the Sofia airport’s new terminal (designed to accommodate up to 2.6 million passengers per year). The Center will be developed and managed by Tishman Management Company EOOD (, part of Tishman International Companies.

    By accepting the first instruction of that kind in Sofia, Forton International has confirmed its leadership position in the industrial property segment of the Bulgarian market, and has come to stay the most reliable business partner, providing a complete range of commercial real estate services.

  • 30mar

    Forton appointed as exclusive advisor and letting agent on Mall of Varna

    Forton International ( has been instructed to provide advisory and property letting services on the first mall in Varna – the third largest city in Bulgaria, and the largest one at the Black Sea coast.

    Investor in the project is Interservice Uzunovi JSCo ( – a leading electronics and furniture retailer in Bulgaria, and one of the largest Bulgarian companies, with a business portfolio diversified in real estate, retail trade, and production and distribution of vegetables.

    The EUR 30 million project will be the first shopping center in Varna, providing retail and entertainment space in excess of 30,000 m2. The center will be the first in Bulgaria to offer shopping, leisure and entertainment facilities on five aboveground levels.

  • 29sep

    Address Academy – the first licensed centre for professional real estate education in Bulgaria

    Address Academy has been licensed for providing professional education by the National Agency for Professional Education at the Council of Ministers. The Academy was first established in 2004 with the aim to provide in-house training for Address’s employees. The company has developed gradually, and in September 2006 Address Academy organized its first public educational course for real estate brokers and consultants. The Academy publishes different training materials, among which is the first manual for real estate consultants – “The Professional Consultant’s Manual”. The catalogue of the Academy’s library includes a wide variety of sources available to the company’s employees.

    In order to provide continuous professional education to the company’s employees, the Academy has developed a branch network of offices in Sofia, Varna, Bourgas and Plovdiv.

  • 30sep

    Address Group takes a new business direction as a holding company, announces new name and logo

    After more than a decade of experience, Address Group has affirmed itself as the largest Bulgarian holding company investing in businesses related to real estate. During all those years the Group has achieved to lay the foundations of its subsidiaries as strong, competitive, and independent companies. In 2006 the aim has been accomplished. Address Group comprises nine companies, most of them ranking among the top three in their respective business segment. Achieving its strategic goal of developing these businesses as independent and competitive, Address Group has managed to concentrate solely on strategic planning and business development, financial management, and control.

    In line with the holding structure’s new corporate mission, Address Group has announced its new name (AG Capital) and logo. AG Capital will focus on business planning and development, ensuring a balanced portfolio of business activities. New ventures, both local and international, will be announced soon.

    The company’s new logo is designed to express AG Capital’s leadership position in each of its business segments, as well as the company’s dynamism in finding the most entrepreneurial and innovative decisions, related to real estate. The logo will incorporate the “Address Group” ensign as a reference to the development of the holding structure and as a tribute to the established brand.

  • 18dec

    Landmark front offices and outstanding results position CreditCenter as the leading mortgage broker

    In December 2006 CreditCenter expanded its branch network with office additions in prime locations in Sofia and Varna. The two new offices will offer better opportunities to customers to find their best lending partner among the 13 largest banks in Bulgaria.

    The excellent end-year results mark a year of success for CreditCenter. The company’s brokerage and financial intermediation team has facilitated credit allotments that position CreditCenter as the largest distributor of mortgages to several banks. CreditCenter is positioned as the mortgage broker in the two largest real estate portals in Bulgaria and has a fully operational call center. The team of the company consists of over 60 professionals nationwide.

  • 19dec

    The first Bulgarian real estate franchise launched

    Address Real Estate has already recruited its first three franchisees in Bulgaria, and has signed its first franchising agreements. The ADDRESS FRANCHISING program is designed to help local entrepreneurs achieve their business goals by increasing their operating revenue and market share, benefiting from the experience and expertise of a strong business partner such as Address Real Estate, with a proven success track record.

    The national franchising programme is the centerpiece of the company’s growth plan. Franchisees will receive support by the company in terms of extensive market knowledge and experience, best business practices, strong brand, highly qualified, motivated and dedicated franchise team, as well as a sophisticated property database and IT system.

    The development of the first Bulgarian real estate franchise programme reflects Address’s innovative spirit and entrepreneurial focus, combined with strategic vision. Following a period of careful planning and meticulous work, Address Real Estate has grasped the opportunity to lead the future growth of the highly competitive Bulgarian market.

  • 20dec

    Unique Estates with new office to serve VIP clients’ needs

    Unique Estates, the company focused on the high-end niche of the residential property market, has opened a brand new office at Kempinski Hotel Zografski – Sofia (

    The new luxury office, located in one of the few five-star hotels in Sofia, is best suited to catch exclusive and VIP clients’ fancy. It has the top location in one of the most prestigious areas of the capital city (Lozenetz District), and offers to customers easy access, free of charge guarded garage and parking lots, as well as the comfort and convenience to use the hotel’s facilities. The new company office is located next to the reception of the hotel. The adjacent VIP lounge reserved for Unique Estates clients further provides for the elite atmosphere and exclusive customer service.

  • 30dec

    Address granted the Superbrand award for 2006-2007

    Address brand was chosen the strongest brand in the real estate industry in Bulgaria for 2006-2007 by the global Superbrands Organization ( – the independent arbiter on branding. Mrs. Katya Tsenova, CEO of Address Real Estates, was granted the special award, recognizing the brand’s success, at the prestigious Tribute Event – defined by the media in many countries as the „Oscars of branding”.

    The history of the Superbrands Organization starts in UK. After ten years of successful expansion, the organization has now offices in 55 countries across the world. In January 2006 the organization launched its programme in Bulgaria. At the first stage of the programme over a 1,000 leading brands on the Bulgarian market were nominated. Following an online customer survey, and other research programmes, the list of leading brands was brought down to 70 top brands. The Superbrand award was reached by just few top local and international brands in the country that were rated against several criteria such as: market dominance, longevity, goodwill, customer loyalty, and overall market acceptance.

    Address was the only real estate company in Bulgaria to receive the award.

  • 30jan

    Christo Iliev – Co-founder of the International Family Business Network’s Bulgarian Chapter

    Mr. Iliev has become a co-founder of the first in Bulgaria family business association, and has been chosen a member of the Managing Board of the Bulgarian Association of the Family Business (Family Business Network).

    The Family Business Network-Bulgaria’s Constituent Assembly was held on the 22th of November 2006 at the office of PM Group JSC in the presence of the association’s constitutors – Petar Mandjoukov (PM Group), who was also appointed a Chairman of the Association, Ivaylo Mandjoukov (PM Group), Christo Iliev (AG Capital), Daneta Zheleva (Allianz), Dinko Dinev (Dinevi Group), Julian Indzhov (ISA 2000), Ivan and Kiro Kirovi (Kirov & Son).

    The Association of the Family Business is the first organisation of its kind in Bulgaria, established to preserve and hand down the traditions in the family business, and promote the success and sustainability of family owned business. Some of the major aims of the association are: to help the development and recognition of the family business in Bulgaria and promote and encourage the success of the family business by assuring wide access to information resources, providing technical and consultancy services, as well as planning, organisation and realisation of different projects, related to the family business in the country.

    The Association of Family Business-Bulgaria was officially incorporated and registered at the Sofia City Court on the 17th of January 2007. The official opening of the Association was announced on the 12th of February 2007 at a press conference at Grand Hotel Sofia, attended by leading Bulgarian journalists and other media representatives. Among the honored guests, representatives of FBN International and participants in the conference, were: Olivier de Richoufftz – the Executive Director of FBN International, and Thiery Lombard – a member of the Board of Directors of FBN International and an owner of a family private banking business, established in 1976.

    After signing a contract on the 16th of February 2007, the Association has been accepted as full member – chamber, of the Family Business Network-International, headquartered in Lausanne, Switzerland. The Family Business Network International is the world’s leading network of business owning families. Founded in 1990, FBN is present today in 45 countries on 5 continents, and unites 1 800 families – members of the organisation. Some interesting facts – between 60 and 85% of the business in England, Sweden, Finland, France, Germany, The Netherlands, Spain and Portugal is family owned. 25% of the top 500 USA companies are family owned, and a half of the top French and German public companies have remained family owned such as: Michelin, Wallenberg, Marriott…

    The Board of Directors of FBN International is comprised of 11 members. The Chairman of the Board is Hans – Jacob Bonnier, a 6-th generation member of the Bonnier family (paper industry), and the other members are members of the world known families: Lombard (private banking), Monodor (coffee manufacturing), Fumagalli, Murugappa Group (Indian finance), Van Oord Family (marine contracting), Wates Group (building and construction), Darbonnes Family.

    On the 26th of April 2007 the Association of the Family Business – Bulgaria has been appointed a full member of the European organisation – European Group of Family Enterprises (GEEF), headquartered in Barcelona, Spain. The European Group of Family Enterprises unites several organisations, whose members exceed 8 000 companies.

  • 29apr

    Christo Iliev has joined the Board of Superbrands Bulgaria

    In April 2007 Mr. Iliev joined the Board of Superbrands Bulgaria – the Bulgarian branch of the international Superbrands organisation. The nomination for the highly honoured position has come after Address Real Estate has been chosen the only Superbrand in real estate in Bulgaria.

    The global Superbrands organisation was founded in 1995 in UK. Since then the programme has been constantly expanding, and the organisation has been recognised as the independent arbiter on branding. Superbrands has operated programmes in 60 countries and at present the organisation works with over 5 000 brands worldwide.

    At the heart of each program is an independent and voluntary council of experts – Board of Superbrands, each member of which has an in-depth knowledge and deeply appreciates the brands’ performance on the market and sector being examined. Usually the Board consists of renowned individuals – representatives of different marketing and advertising agencies and consultants, leading company managers, and outstanding journalists and powerful media representatives.

    The start of Superbrands programme in Bulgaria was announced in January 2006. Address has become a Superbrand for 2007, together with other world known brands such as: CocaCola, Actavis, DHL, Shell, Danone, Nokia, and other Bulgarian brands such as: Mtel, BTV, Kamenitsa etc.

  • 30apr

    Christo Iliev Appointed Member to the Board of Directors of BBLF

    In April 2007 Mr. Iliev was elected as member to the Board of Directors of the Bulgarian Business Leaders Forum (BBLF). The Chairman of the Board is Mrs. Maria Shishkova (AIMS Human Capital), and Vice-chairman is Mr. Mario Al Jebouri (Forem Consulting). Among the other members of the board are: Anthony Hassiotis (Post Bank), Borislav Stratev (Deloitte Bulgaria), Christo Iliev (AG Capital), Ivan Vassilev (TNT Bulgaria), Konstantin Tilev (Radio FM+), Nikolaj Hadzitonchev (Actavis), Rositsa Kostova (USIT Colours), Silva Zurleva (Nova TV), Stoyan Neshev (Siemens), Valentin Panayotov (Pari Daily), Vanya Kaneva (Overgas), Zoya Paunova (Astra Zeneca).

    BBLF was founded in 1998 with the aim of establishing and promoting the values of corporate social responsibility (CSR). The organisation is associated to the International Business Leaders Forum and is under the auspices of the Prince of Wales. Nowadays BBLF has over 200 company members, and the BBLF Business Ethics Standard has already been accepted by over 1500 companies.

  • 30jun


    The leading international luxury real estate brand Christie’s Great Estates entered Bulgaria by choosing as its exclusive affiliate Unique Estates Luxury Properties – a leading Bulgarian luxury real estate company. The contract was signed and became effective on 27 June 2007 in Sofia.

    Christie’s Great Estates is the world’s largest network of real estate agencies specialized in luxury property brokerage. Christie’s Great Estates is a wholly owned subsidiary of Christie’s, the biggest auction house worldwide. The network covers 35 countries worldwide, and comprises 850 offices and more than 35 000 associates. The combined annual turnover of all Christie’s Great Estates affiliates exceeds $125 billions.  

    Unique Estates is a Bulgarian company specialized in luxury property brokerage and management. The company is also a part of the Bulgarian largest real estate holding structure – AG Capital. Unique Estates was established in 2006 and the negotiations, regarding the exclusive affiliation, have been lead by the holding company for more than two years. Besides being the executive Christie’s real estate affiliate in Bulgaria, Unique Estates will also have the opportunity to participate in the auctions conducted by Christie’s.

    “It’s a great honor for us to have gained the confidence of a renowned and prestigious company such as Christie’s Great Estates. We are very proud that Christie’s has chosen as a partner in Bulgaria a company from AG Capital’s portfolio. The association between Unique Estates and Christie’s is also a recognition of the degree to which the Bulgarian real estate market has developed in the last couple of years. Unique Estates has become one of the three executive associates in Christie’s network in Europe this year”, declared Christo Iliev, CEO and Executive Chairman of the Board of Directors of AG Capital at the ceremony of the official signing of the contract between the both partners.

    What Bulgarian clients will gain from that exclusive association is an access to the worldwide database of unique luxury properties and services of Christie’s Great Estates. Unique Estates will process inquiries regarding luxury properties in Bulgaria generated from Christie’s worldwide network and will offer its services to all customers within that network. “We have already prepared the first Bulgarian properties to be presented in the Christie’s Great Estates’s magazine and website”, said Vesela Ilieva, CEO of Unique Estates. “The Bulgarian entry of a global brand such as Christie’s Great Estates means that the luxury real estate services in Bulgaria have already met the highest standards in real estate, and is also an opportunity to meet the market supply and demand, as well as to further expand the specific market segment”, she added. “We have already started to work hard for satisfying the numerous inquiries for Bulgarian properties, coming from customers of the companies within the Christie’s European network”, announced Mrs. Ilieva.

  • 30jul

    Domika Opens its First Office in Russia

    On August 15th 2007 Domika is going to open its first international office in Moscow, Russia. The office will be associated to the company’s headquarters in Varna, Bulgaria, and will offer a full range of real estate services – real estate consultancy in property acquisition in Bulgaria, professional advice in defining property characteristics, viewing trips organization, in-depth consultancy, regarding the process for obtaining a visa etc.

    Only few months after the establishment of Domika as an independent subsidiary of AG Capital, the company has succeeded in positioning itself as the only nationwide real estate consultancy company, provided with an office in Moscow, Russia and focused on servicing the needs of Russian-speaking customers in Bulgaria. The new office addres is: 17, Krasnaya Mayaka Str., Center of Bulgarian Industry in Moscow, Moscow, Russia.

  • 30aug

    Address makes its first step towards expansion in residential brokerage to Southeastern Europe

    Address Real Estate has made its first step towards expansion in residential brokerage to Southeastern Europe by establishing Address Serbia. The company is headquartered in Belgrade, and will focus primarily on the residential market segment in the capital city.

    The decision is in line with the constantly increasing interest in Serbia from Bulgarian and international developers and investors, who have long-lasting partnerships with Address Real Estate and AG Capital. Furthermore, the market provides for a growing number of transactions and for numerous opportunities on the residential market in Belgrade and the region.

    Address has over a decade of experience in emerging markets, an innovative know-how, a well-developped network in Bulgaria, and a number of best practices and successful business models to offer – all good reasons to back the move to develop the residential market in Serbia and to explore the most of the opportunities available there.

  • 30sep

    Forton International Closes the Biggest Ever Retail Property Investment Transaction in Bulgaria

    Forton International has closed the biggest real estate investment transaction in 2007 which is also the biggest ever retail property investment transaction on the market. The deal, in which Miller Developments has acquired Mall Varna from Interservice Uzunovi, has a total value of € 120 M, and has been officially announced during a pressconference on 25.09.2007.

    „The Mall Varna’s acquisition is the largest shopping center investment in Bulgaria, and is an indication of the real estate market development in the country. Forton, in close cooperation with its international partner Cushman & Wakefield, has proved its ablity to attract and negotiate with large institutional investors, to structure deals of such a size, and to represent its clients’ interests in achieving the highest possible price for their significant projects“, Valery Valchev, partner in Forton International, has explained.

    Mall Varna is the first shopping and leisure centre to be developed in Varna. The centre has been designed by the English architectural bureau „Chapman Taylor“, specialised in the design of shopping centers and unique projects such as „Dubai Pearls“. Mall Varna will have 150 shops, many entertainment facilities, and will be anchored by a Piccadilly supermarket, and a 1300-seat, eight-screen Arena multiplex cinema. Construction works started in September 2006, and completion is scheduled for the end of 2007. The shopping centre is expected to open doors officially during the summer of 2008.

    Mall Varna has a GLA of 32,000 sq.m. and  a TBA of 70,000 sq.m., distributed on 3 underground and 5 aboveground levels. Mall Varna will offer its clients 700 parking places, 8 elevators, and 14 escalators.

    Intereservice Uzunovi

    The company was established in 1990 in Varna, Bulgaria. Mr. Krasimir Uzunov is its President and major shareholder. The company has a portfolio of several subsidiary companies, operating in different industries. Intereservice Uzunovi AD is an official exclusive representative of SHARP for Bulgaria. Besides electrical appliance import and distribution, the company also deals with furniture production and trade through Ralitza Furniture, as well as with property development, project management and vegetable production.

    The company has a capital base of € 9 M and fixed assets of € 27 M. The investment in Mall Varna is expected to reach € 60 M.

    Miller Developments

    Established more than 30 years ago, Miller Developments, a division of Miller Group, is one of the UK’s leading commercial property development companies. The Group turnover in 2006 was £1.2 bn. Miller Developments is a property development and investment company, focused on the commercial property market segment. 80% of its portfolio is comprised of office and retail properties. Company’s strategy for continental Europe includes both property development and acquisition. After completing several investments in Western Europe, the company has changed its focus and has also started to aggressively seek investment and development opportunities in Central and Eastern Europe. Its first projects are in Budapest, Hungary (Premier Outlets Center) and Varna, Bulgaria with the acquisition of Mall Varna. Miller Group has a property portfolio of 78 projects with a development value of £3.7 bn.

  • 30oct

    AG Capital at one of the biggest international proeprty exhibitions – EXPOREAL 2007, Munich

    For a first time in its history as a holding company AG Capital took part as an exhibitor at one of the biggest international real estate exhibitions – ExpoReal 2007 in Munich, between 08-10.10.2007.

    AG Capital was the only company among the 1,800 exhibitiors to present its subsidiary companies and the services they offer in Bulgaria and Serbia. Company representatives from Forton, Asta Bridge, BLD and Address discussed the latest trends in the real estate market development, and presented their portfolios of key projects to property developers, investors and other real estate professionals. Mr. Savov was also a speaker at the ExpoReal conference, and discussed the investment opportunities available in Bulgaria at the panel dedicated to Bulgaria as an investment location. All the companies in AG Capital’s portfolio registered an enormous interest in the services and projects they offer, and managed to register more than 150 enquiries from prospective clients.

    ExpoReal takes place each year in Munich, Germany. The exhibition is one of the biggest trade fairs for commercial property in the world, covering 63,000 sq.m. of exhibition space, occupied by over 1,800 exhibitors. The interesting conference panels, as well as the diversity of real estate products and services offered, has brought in the attention of nearly 40,000 exhibitors and visitors – property developers, investors, financial institutions, consultants, as well as other real estate professionals.

  • 28feb

    Forton International opens office in Skopje, Macedonia

    Forton International is about to open its first office in Skopje, Macedonia. In the next months the new team will be trained in accordance with Forton’s corporate values and high quality services.

    This step confirms AG Capital’s strategy to position as the Balkan property business group. AG Capital believes that Macedonia and its market has a lot to offer and challenge the entrepreneurs in the next years.

    Forton International was established as a subsidiary of Address Group, currently AG Capital, and is specialized in providing commercial real estate services locally and internationally. In 2006 the company initiated its international expansion by opening an office in Belgrade, Serbia. Forton International is an associated office of Cushman & Wakefield – one of the largest real estate services firm.

  • 30mar

    Domika opens office in St. Petersburg, Russia

    Domika has stepped further on the Russian market and in March the company opened its second office in the country. The new office is located in St. Petersburg.

    The team of professionals who will serve the clients from the Baltic region are ready to provide high quality services and detailed information for the constantly growing Russian market. Bulgaria is one of the most attractive destinations for Russians to invest.

    Domika as an independent subsidiary of AG Capital, the company has managed to position itself as the sole nationwide real estate advisory company in Bulgaria, dedicated to servicing the Russian-speaking customers.

  • 30apr

    BLD invests €70m in landmark building in Sofia

    BLD and its joint venture partner Northridge Capital Ltd. have agreed to acquire the 29,000 sq m Dimitar Blagoev Printing House in downtown Sofia (the “Printing House”). The site is situated at the heart of the emerging Sofia CBD, on Tsarigradsko Chaussee, which is the main Sofia boulevard connecting the city centre with the airport and the Sofia-Plovdiv-Bourgas highway.

    BLD and its joint venture partner will convert the five buildings into modern class A commercial space consisting of 23,500 sq m of office accommodation and 3,500 sq m. of retail space, together with 182 underground and 58 above-ground parking spaces.

    Total project costs (including land acquisition and development) are estimated at Euro 50m (£40m*), while the gross development value is estimated at Euro 70m (£56m*).

    Bulgarian Land Development plc is AIM listed Bulgarian residential and commercial development company. The company has a substantial pipeline of property development and land acquisition projects.

  • 30may

    Forton International gathers friends for its birthday

    Forton International celebrated its birthday with seminar and fancy cocktail. This year the company invited interesting to the mass public lectors and property professionals to share their knowledge about latest trends in office space.

    Speakers included Sergey Koinov, Ralph Holland, Matthew Stone and Andrew Thompson. They shared that the office of the future depends on the location but also on the specific needs of its tenants. The offices of the future are multifunctional projects and business parks suitable for both formal and informal meetings. To succeed investors and entrepreneurs should take into consideration these trends and follow the business needs and strategy of development of their tenants.

    The real birthday party began in the evening when Forton gathered its friends, clients, consultants and colleagues, to celebrate its third anniversary as independent company.

    Forton International was established as a subsidiary of Address Group, currently AG Capital, and is specialized in providing commercial real estate services locally and internationally. In 2006 the company initiated its international expansion by opening an office in Belgrade, Serbia, and in 2008 – in Skopje, Macedonia, as the next step of its development. Forton International is an associated office of Cushman & Wakefield – one of the largest real estate services firm.

  • 30jun

    LuxOnly and The First Year of Unique Estates

    Sheraton Sofia Hotel hosted the third conference Lux Only on June 12th and 13th and Unique Estates took part in it as golden sponsor. At the same time the company celebrated its first year on the market.

    Specially for the event in Bulgaria came Joachim Wrang Wieden, director for Christie’s Great Estates Europe. He and Vesela Ilieva, executive director of Unique Estates, made brilliant presentation on Symbols, Marks and Legends in the Luxury Business or how the Brand Becomes Global” and officially announced the anniversary and the successes for that time.

    About Unique Estates
    Unique Estates specialises in luxurious property sales and exclusive client representation. The company aims the high market segment. In 2007 Christie’s Great Estates, the leading global luxury real estate brand, has chosen Unique Estates as its exclusive affiliate in Bulgaria.

  • 30aug

    AG Capital Starts Business Class in Property Management

    AG Capital starts Business Class in Property Management which will be held from Nov 24th to Nov 28th. The participation is free and all interested should only register at

    The Business Class in Property Management is for students and young professionals who have interest in one of the most dynamic elements of the Bulgarian economy. The aim is to provide practical knowledge and skills for the property management business.

    The Business Class is organized in partnership with AG Capital – the Bulgarian property business group, DB Interconsult – Management & Human Resource Consulting and the University Career Center at University of National and World Economy in Sofia, Bulgaria.

    The lectors are top managers from the structure of AG Capital. They will draw participants’ attention to the problems of the strategic property management, the management of retail, office and industrial projects, financing and investment in the property sector, residential and luxury properties.

    The participation in the Business Class is free of charge and all participants will receive certificate.

    Host of the event is the University of National and World Economy.

    More information can be found at

  • 30oct

    AG Capital at Expo Real 2008

    AG Capital attended Expo Real 2008 as exhibitor and was the only company from Bulgaria with its own booth. Our message this year was “The Balkan Property Business Group – New Opportunities” and our main focus were the countries on the Balkans in which we operate, Bulgaria, Serbia and Macedonia.

    At 44 sq.m. co-exhibitors were our companies Forton International and Bulgarian Land Development. Colleagues from other companies from our portfolio also attended the event.

    BLD draw visitors’ attention with its latest project BLD Office Park (the Print House) and its investment properties July Morning and Riverland.

    Forton International took part in the conference panel dedicated to Bulgaria.


    About Expo Real
    Expo Real is the largest exhibition in Europe in the real estate investment opportunities, consulting, financing and software. The exhibition is held for already ten years starting from 1998 and each year it records strong growth in number of visitors, exhibitors and closed deals.

  • 30nov

    April Risk Solutions Starts Operations in Bulgaria

    On a special press conference held on October 29th it was officially announced that April Risk Solutions starts operations in Bulgaria.

    The new company is joint venture between AG Capital and April Group. Its activities will be focused on niche products in the general and life insurance sector. Two insurance companies part of April Group’s portfolio were already registered in Bulgaria. These are Axeria Prevoiance and Axeria IARD. Both will guarantee the insurance risk.

    April Risk Solution’s strategy is to focus on alternative products instead of going to direct competition with already proven market players.

  • 15dec

    The First Alumni form the AG Capital Business Class

    В последните дни на ноември завърши първият Бизнес клас по управление на недвижимата собственост организиран от AG Capital в партньорство с Междууниверситетския център за развитие на кариерата на Университета за Национално и световно стопанство и DB Interconsult.

    Стотици студенти и млади професионалисти проявиха желание да се включат в безплатния Бизнес клас, но едва 80 студента бяха допуснати след селекция.

    Отзивите от Бизнес класа са изключително положителни. В пет дни някои от топ-мениджърите от структурата на AG Capital застанаха пред аудиторията, за да разкажат своя опит в бизнеса. Участниците в бизнес класовете не се колебаеха да задават своите въпроси по актуалните теми за недвижимия сектор и финансирането.

    AG Capital планира да продължи и разшири инициативата за Бизнес класа по управление на недвижимата собственост.



    Научете повече за Бизнес класа по управление на недвижимата собственост на адрес:

  • 28feb

    AG Capital Sold Regent’s

    At the end of February AG Capital finalized the sale of its company specialized in business property Regent’s Property Advisors. The buyer is Mr. Stefan Kosev also known with its participation in the team that developed the brand Picadilly supermarkets and he is also their executive director.

    “The sale is part of our strategy to create, develop and manage successful companies” commented Mr. Hristo Iliev, executive director of AG Capital. “We are selling the company because we want to focus 100% of our efforts in the business property segment developing Forton International and our partnership with Cushman&Wakefield, as well as the development of the Balkans – Serbia, Macedonia, Kosovo and Albania.

    АG Capital founded Regent’s in 2007 with main focus of the company being the agency and advisory services for corporate clients. At this moment the company has exclusive contracts for more than 350 000 sq.m. of office and retail properties among which are the Aksakov Business Center in Sofia and Sun City Mall in Burgas.

  • 30jun

    Companies from the Group got their pages on Facebook

    Three companies from AG Capital’s portfolio entered the social network Facebook in the last months. The initiative came first from Address, the leader brand in the real estate. Its example was followed by Unique Estates, the luxury property consultants and CreditCenter, the financial services specialists.

    Social networking is contantly gaining attention among Bulgarians of all ages and social background. The companies use the features offered by Fecebook to keep in touch not only with current customers but also with everyone who is interested in the respective business. The regularly update their profile pages with hot news from the market, promotions, offers and interesting information.

    Everyone is welcome to join their Facebook networks. Visit the links below to become part of them:

  • 30jul

    Address on the prices and market trends

    SOFIA, July 15, 2009: Address, the leading real estate company from the AG Capital’s portfolio, gave a press conference today. The main topics were the prices and the trends on the market in 2009.

    The dropping prices in the last months make the purchase of property very attractive in this particular moment. The average drop for the country for the first half of 2009 is 23%. This is due to the highly overpriced quarters in the municipal cities or the capital.

    The press conference was covered by the leading media. You can see short video archives in the AG Capital’s channel on YouTube.


    EBF TV

  • 30aug

    New And Better Franchise Conditions by Address

    The crisis is the best time to start and establish new business. This is valid as well in the real estate franchise at this moment.

    Since July ADDRESS offers new and significantly more favorable conditions for starting a business in the field of agency services related to the property market:

    • Drop off the exclusivity requirement

    • Complimentary gratis period with no fixed taxes for the first 9 months after the contract is signed

    The low initial investment, the possibility of the return of the investment in 2 years and the individual approach to every entrepreneur lead to new contracts signed in the last months.

    Although this business is highly affected by the crisis, there are deals in every location. The differences between then and now are the efforts that are needed and the longer period to reach certain growth levels, but all this is possible and the successful partners of Address continue to achieve good results.

    To receive more information on the franchise offered by Address you can visit the company’s web page:

  • 29sep

    FrontEx International signed contract with Postbank

    FrontEx International signed with Postbank a contract for debt collection.

    This happened after the company participated in a competition launched by the bank. The team of proven professionals competed with established debt collecting companies.

    FrontEx got the confidence to work with one of the leading banks in the country.

  • 30sep

    Facility Optimum signed with VIVACOM

    Facility Optimum Bulgaria signed contract for fire alert with the telecom recently named VIVACOM.

    Facility Optimum will take care for the fire-alarm systems of BTC Group (Bulgarian Telecommunication Company) at nearly 900 points across the country. The contract was assigned after participating and winning tender.

    The success of this professional trial once again establishes the public image of Optimum Facility Bulgaria as the only facility management services company with nationwide coverage.

  • 10oct

    The Summer Internship Program at Address Finished Successfully

    The Summer internship program at Address Real Estate in Sofia finished successfully

    Four students chose Address for their summer internships. They got familiar with all aspects of the work in the company – the regional offices and in the functional units.

    Marietta, Lydia, Momchil and Danislav invested in themselves more than 1600 hours and as result they learned the basic concepts in dealing with buyers and sellers, hiring new employees, suppliers, working with databases, analysis of the effectiveness of the work, techniques for improving the results … and of course maintaining a strong team spirit!

    The process was bilateral. Lydia and Momchil did on site photographic training at all offices and helped the overall photo training in August.

    Interns leave Address with excellent recommendations, and company’s sphere of influence among the young prospective buyers of properties expands.

  • 15oct

    BLD draw the attention of the Bulgarian-Nordic Chamber of Commerce

    On October 8 Bulgarian Land Development held a presentation to members of the newly established Bulgarian-Nordic Chamber of Commerce. The event took place at the Radisson Blue SAS Grand Hotel Sofia and attracted more than 40 participants.


    As a new member of the organization BLD introduced its representatives to the scope of its activity, indicating the positions of the real estate market in the world. The emphasis was on the project Poligraphia (Print-house) Office Center, which counts on the modernist vision in the heart of one of the most emblematic buildings in the capital.

    The President of the Chamber of Commerce Mr. Goran Svensson gave a welcoming speech and expressed his hopes to maintain active business cooperation among the members of the organization.

  • 30oct

    Insurance Assistance by Advance

    Advance Address Valuations, company of the group of AG Capital now offers new service line – Insurance Assistance.

    The Insurance Assistance is an independent activity within Advance linked to the work of the insurance companies and brokers. In time when the cost optimization is not lust but a necessity, insurers are interested to outsource their inspection activities and servicing of insurance claims to outside companies.

    The new service offered by Advance could be summarized as insurance assistance in the following cases:

    • at damage to property

    • at damage to vehicles

    • at valuation and in determining the insurance value

    To learn more about the service and take advantage of it, do not hesitate to contact Advance:

  • 27nov

    Address at Franchising Expo 2009

    Address Real Estate took part in Franchising Expo – the first specialized exhibition for franchising in Bulgaria.

    The exhibition was attended by more than 2000 people. About 40 companies offered business opportunities for starting small and medium businesses in a variety of areas – real estate, fitness salons, pizzerias, fast food restaurants, bakeries, fresh bars, education centers.


    At the stand of Address were recorded 10 specific requests for franchise by Address in Sofia, Plovdiv, Bourgas and other cities.

    During the expo was held the first conference “Franchise Business in Bulgaria”, which was visited by 215 owners and managers of small and medium businesses, professionals and experts in the franchise.

    The first Bulgarian lecture after the foreign language speakers draw special interest. It was Veselin Venev, Director of Address Franchise System. The topic was skillfully selected “Management of Franchise Sites and Support from Franchisor”. After the presentation, many participants of the conference, and journalists from leading media congratulated personally Veselin Venev for the interesting lecture, presented in an unconventional manner.

  • 28nov

    Unique Estates at BalRec 2009

    Vesela Ilieva, CEO of Unique Estates, was speaker in the panel “Market of Real Values”.

    She answered questions on the quality of the environment, which are the crucial factors to the success of a project and what is the limit price of luxury, which the client would pay today.

    Unique Estates at BalRec 2009

    Unique Estates at BalRec 2009

  • 29nov

    Facility Optimum at the Energy-Efficient Solutions Forum

    Bisera Ivanova, CEO of Facility Optimum Bulgaria, took part as speaker in the forum Energy-Efficient Solutions in Construction and Industry.

    The event was met with great interest by investors, representatives of public authorities and journalists. It was hosted by Mr. Andrew Sloan – Managing Director of Schneider Electric Bulgaria, and speakers at the forum were representatives from the Ministry of Regional Development and Public Works, the Energy Efficiency Chamber, the European Bank for Reconstruction, National Company Industrial Zones PLC and Development and others.

    Facility Optimum Bulgaria

    Facility Optimum Bulgaria

    Bisera Ivanova presented to the guests the effects and benefits of the services of a facility management company. The main emphasis in her exposé was the amount of savings achieved by each company using integrated facility services. Energy-efficient solutions, implemented and managed by the facility management company, are just one way of saving money and along with this they allow to demonstrate tolerant attitude towards the environment.

    See a short video of Bisera Ivanova’s presentation at the AG Capital channel in YouTube: (speech in Bulgarian)

  • 30nov

    Guarantee for Used Cars – April

    From the beginning of December, April Risk Solutions launches on the market completely innovative insurance products. This is the Guarantee for Used Cars – April, which is intended to cover the owner’s cost for invested labor and parts at the occurrence of internal mechanical and electrical damage in the car. Along with this the guarantee covers any damage to other parts if they are caused by damaged parts included in the cover.

    Key benefits for users of this guarantee are that along with the coverage, its beneficiaries receive attentive service and use of original parts, 24/7 technical support and most of all – a comprehensive service history, which adds significant value to the car. If the initial owner decides to sell the car, the warranty remains in force for the new owner. Guarantee for Used Cars – April has three levels of coverage depending on age and mileage of the vehicle.

    To learn more about the conditions to use this product or to recommend and offer it, you can contact April Risk Solutions right now at:

  • 12dec

    Address is Superbrand for Fourth Year in a Row

    Address Real Estate was awarded Superbrandsfor fourth year in a row and recognized as the most powerful brand in the real estate segment for the 2009/2010. This happened during a ceremony held on November 30th 2009 in Sofia.


    The Superbrands award was received by Ms. Tsvetelina Taseva, executive director of Address Real Estate.

    This year an independent panel appointed seven well-known brands in the property sector, which then were subjected to online voting. The result of this is that once again the undisputed leader is Address, the biggest Bulgarian real estate agency.

    The company was declared a Superbrand in the first year of the announcement of the award for Bulgaria in 2006 and subsequently was awarded in 2007. In 2008 Address topped the chart for Business Superbrand.


  • 30jan

    Follow AG Capital on Twitter

    AG Capital recently became active on Twitter! Twitter is the fastest growing social networking and microblogging service that enables its users to send and read short messages.

    The team will post fresh news from the Group and links to our favorite places online.

    Interested? Follow us and contact us in 140 symbols here:

  • 28feb

    Income Protection – April

    Income Protection – April is one of the most anticipated insurance solutions on the market. Unlike the unemployment insurance, which is required for withdrawal of credit and benefits the creditor bank, The Income Protection – April can be used by absolutely anyone and the beneficiary is the insured himself.

    Insurer of insurance income protection – April is Axa Group ( – one of the largest insurers worldwide. The company started its activities in France in 1985 and today has established its good name worldwide, has over 80 million customers and more than 91 billion revenue in 2008. For Bulgaria, the company has done several studies over the years but only started working here after meeting a stable and professional broker in the face of the team on April Risk Solutions.

    Income Protection – April is designed to meet the financial needs by providing regular monthly benefits of up to 70% of the net salary of the insured for 6 or 9 months in cases of involuntary unemployment, temporary or permanent disability. The insurance solution is designed to meet the needs in times of personal crisis, and provide with a regular monthly income while the insured person is back on the labour market.

    You can learn more visiting April Risk Solution on

  • 30mar

    Forton Macedonia for Office Center Megi

    Forton Macedonia started the active offering of Office Centre Megi in Skopje. This is a key building for the new look of the local business.

    Office Centre Megi is a Class A project with GEA 8500 in Skopje. It is the result of the partnership between a Bulgarian investor and local businessman. The building was designed by Italian architect. This project is unique in Skopje. There is a strong identity and contemporary architecture, making it the only of its kind on the Macedonian market.

    The investors in the development appreciated Forton’s pragmatic and honest vision: the market is small and difficult. The company offered them to work based on a systematic down-top commercial action, combined with marketing actions.

    The slogan for the campaign is “Inspire you business”. The identity of the building and its location can bring new perspective and inspiration for business. Forton is coming up with something fresh in Skopje.

    From left to right: Zoran Trajkovski, Xavier Pinchart, Bilyana Malinova, Georgi Pavlov.

  • 30apr

    How to Sell Successfully in Crisis?

    At the end of March Forton attracted the attention of customers, colleagues and media with its seminar “How to sell successfully in crisis”.

    How to sign a snip for the sale of investment property and what are the advantages of professional property management? These were the main topics of the business seminar which provoked great interest.

    The event was opened by Sergei Koynov, Executive Director of Forton.

    This was followed by the presentation of Michaela Lashova, Head of Capital Markets and Consultancy Department. She explained in detail the specifics of the business and the trends for 2010. “At a time of crisis, buyers are few, as opposed to sellers. Therefore, they are aggressive in pricing, but price value is not the only condition in deciding to buy an investment property, “said Michaela.

    Genoveva Borisova, Head of Property Management Department, introduced the audience into the world of property management. She pointed out the advantages of professional management companies buildings.

    You can see some of the presentations in the channel on YouTube AG Capital:

  • 30jun

    Piccadilly signs for 510 sq.m.

    The Piccadilly supermarket chain has signed up for 510 sq.m. in the commercial area of the Polygraphia Office Center. The planned site is the type of Piccadilly Express and will be the eighth of its kind in the capital. Piccadilly has more than 15 years of tradition and has 21 shops across the country that meet the global trends in equipment and service.
  • 30jul

    International Media Company with Newsroom in Polygraphia

    International media enters Bulgaria in partnership with Bulgarian company which is tenant in recent deal with Polygraphia Office Center. The newsroom will be located on the ground floor of Polygraphia occupying an area of 1040 sq.m. The name of the media company will be announced once it becomes active on the local market.
  • 30aug

    News From The Franchise Network of Address

    In the last months Address Real Estate added new partners to its franchise network. To the network in the last months were added colleagues from Sandanski. The territory of the office also includes the areas of the towns Kresna and Strumyani.

    Since the beginning of July the franchise team of Address opened doors of a new office in the town of Balchik. It is located in the very center of the town, near the central post office, municipality and public administration buildings. The area is popular among local people and guests of the town, as well as buyers and property owners from the region.

  • 28sep

    Advance Celebrates 5 Years

    The team of Advance Address Valuations celebrates five years since the company was started.

    For this period the company managed to become among the leading in its sector and many banks, institutions, public and private companies and clients are trusting its professional service. Thousands of hundreds valuations have been done for this period. Among the most intriguing valuations in its corporate history are airport, marina, emblematic factories and companies in Bulgaria and houses abroad.

    One of the aims of Advance for the next months is to implement ISO 9001:2008. The certificate will guarantee the quality of its services.

  • 29sep

    New Services By

    Starting from this month ( increases the insurances that offers. Among the other services that are ordered and delivered online the company’s team launches the Kasko insurance. is one of the latest projects in the AG Capital portfolio. It was launched in the beginning of this year.

    In the very beginning the website offered only the Liability Insurance package and with its intuitive navigation, competitive prices, accurate and relevant service shortly after its launch it won many loyal clients.

  • 30sep

    GfK Bulgaria signed for 1600 sq.m.

    GfK Bulgaria signed for a rental of 1 600 sq.m. in the Polygraphia Office Center. The company will move to the new offices in early 2011. GfK Bulgaria is part of GfK Group, one of the largest marketing research companies. The Bulgarian unit offers full range of sociological tools and provides information for the industry, retail and service sectors.

  • 29oct

    The Latest Trends In The Facility Management

    The executive directors of Facility Optimum Bulgaria and Forton International took active part in the Fifth International Facility Management Conference that was held in Sofia.

    What are the latest trends in the facility management in Bulgaria? This was the question many journalist asked to specialists, managers and participants in the conference. See what shared with Human Capital magazine Bisera Ivanova and Sergey Koinov in the video material below:

    See more video news and trends from the companies from the AG Capital group in our YouTube channel:

  • 30oct

    New Office For CreditCenter and Frontex

    The teams of CreditCenter and Frontex International are relocating to a new office in Sofia. The new address is 110 Kozlodui Str.

    The new office is large, suitable and comfortable for the constantly growing call-center team of Frontex International.

    Recently CreditCenter also opened a new front office in the same building. It is on the ground level and offers all clients looking for mortgage or insurance services.

  • 25nov

    Address With Official Certificate For ISO 9001:2008

    Address Real Estate has been assessed and certified as meeting the requirements of ISO 9001:2008.

    The certificate is valid for the activities of agency in buying, selling and rentals of real estate. The document also covers the property management of real estate.

  • 26nov

    Forton Has Been Certified As Appraiser

    Forton International has been acknowledged as real estate appraiser. The certificate is issued by the Chamber of Independent Assessors in Bulgaria.

    The certificate gives Forton important competitive advantage against other companies working on the same market. It will allow it to deliver better services for its local and international clients.

  • 27nov

    Raiffeisen Became Client Of Facility Optimum

    Facility Optimum Bulgaria added a new bank to its portfolio. This is Raiffeisen Bank.

    The company will be in charge of the maintenance of more than 1000 air conditioning systems across the country. The achievement is a result of the hard work of the whole team working on this project.

  • 28nov

    Address Took Part In The Autumn Property Show in Moscow

    For a fifteenth year in a row the international show gathers some of the leading companies in the real estate sector. There were agents from the most attracting markets for the Russians such as Bulgaria, Spain, France, Cyprus, Turkey, Montenegro, the United Kingdom and USA. More or less exotic property destinations such as Costa Rica or Australia also had their representatives.

    Among the other companies from all these countries Address attracted the Russian clients valuable and professional service and attractive property offers.

  • 29nov

    Emporiki Chose Facility Optimum

    Emporiki bank is the newest client of Facility Optimum Bulgaria. The company will take care of the cleaning of over than 30 bank sites across the country.

    Emporiki Bank – Bulgaria EAD was founded in 1994 under the name Bulgarian Investment Bank by the European Bank for Reconstruction and Development (EBRD) and a group of Bulgarian banks and other shareholders. In 1998 Emporiki Bank of Greece acquired the majority of shares of Emporiki Bank – Bulgaria, and since 2003 holds 100% of shares. In 2007 the French Crédit Agricole Group acquired the majority of shares of Emporiki Bank of Greece.

  • 30nov

    Advance and Facility Optimum Have New Office In Ruse

    Advance Address Valuations and Facility Optimum Bulgaria opened doors of its new office in the city of Ruse.

    The companies share an office which was officially opened this month. Guest of the official opening were members of the management team, colleagues, partners and media representatives.

    AG Capital encourages the synergy among the companies from its portfolio. The work of the teams of Advance Address Valuations and Facility Optimum Bulgaria in Ruse is an example of excellent partnership.

  • 30dec

    Usage Permit for Poligrafia

    On December 17th Poligrafia Office Center received Act16, the usage permit that allows the become fully functioning.

    Poligrafia Office Center is a Class A multifunctional office complex. It has 16 500 sq.m. office space and more than 2200 sq.m. commercial space. The tenants can get advantage of 230 parking spaces within the complex.

    Tenants at the Poligrafia Office Center are known international companies as well as large Bulgarian firms. With the already obtained usage permit it is expected that these will relocate their offices here in the very near future.

    Investors in Poligrafia Office Center are Bulgarian Land Development, part of the AG Capital group and Northtridge Capital.

  • 30jan

    Ernst & Young signed for Poligrafia

    The Bulgarian division of Ernst & Young, one of the worldwide leading consultancy companies, signed for a rental of a floor in Poligraphia Office Center.

    The contract was signed in the last days of 2010 with the professional agency and advisory services of Forton International. It is expected that Ernst & Young will relocate its office to the Poligraphia Office Center later this year.

  • 30mar

    Find Us On 4sq And Vivo

    With the rise of the location-based services and the geosocial networking we are happy to join the fun. Since March 2011 AG Capital can be found on 4sq and Vivo!

    Foursquare ( is a location-based mobile platform that makes cities easier to use and more interesting to explore. Foursquare guides real-world experiences by allowing users to bookmark information about venues that they want to visit and surfacing relevant suggestions about nearby venues. In January 2011, Foursquare was named Best Location Based Service and you can check in with us here: is fast fast growing service similar to 4sq but it is mainly popular among the Bulgarian users. Visit us with Vivo on:

  • 30apr

    Ubisoft signed for Polygraphia

    Ubisoft, one of the largest software corporations worldwide, is now tenant at the Polygraphia Office Center.

    The employees of its Sofia office will occupy a total area of 1428 sq.m. The company has also leased 15 parking lots at the office building.

    The Bulgarian division of the Ubisoft team is about 100 professionals in the development of electronic games in various genres and for different platforms: artists, programmers, animators and other professionals. To provide a creative atmosphere for its employees, the company chooses to lease the fifth floor of Building B at the Polygraphia Office Center, specific for its high ceilings and inspiring view over the Sofia city center.

  • 26may

    Property Week

    The Property Week starts in Sofia on May, 11th with the conference BalREc followed by the expo BalPEx.

    Companies from the AG Capital Group will take active part in the events:

    • Address Real Estate with a booth and speaker at the conference: George Pavlov

    • Forton International with speakers: Sergey Koinov and Vladislav Kayzerov

    • CreditCenter with a stand in the exhibition

    Visit the stands of Address and CreditCenter in TheMall, Sofia, to get free advice and learn about special offers from the companies.

    See also the presentation of Sergey Koinov Lifestyle Mall which has already been uploaded to the website of the conference.

  • 27may

    Home Inspection by Advance

    Advance Address Valuations now offers home inspection service.

    Have you ever wondered what is the quality of construction of the property in which you live or intend to buy?

    Advance works exclusively with the company Hexagon Build specialized in the inspection of buildings for energy efficiency and energy issue passports. Trained professionals can optimize air conditioning and heating systems for each apartment, and made comprehensive recommendations for the renovation of existing buildings.

    The activities of the inspection are made based on infrared thermography technology images. It allows to report the smallest variations in surface temperatures of the studied objects – such temperature anomalies are caused by moisture, leaks, mold, poor electrical connections, missing thermal insulation, condensation.

  • 28may

    Mtel signed with Facility

    Mtel, the largest mobile operator in Bulgaria, chose Facility Optimum as a partner in the facility management of their buildings.

    The contract was signed this week. It includes cleaning the premises of the Mtel throughout the country, a total area of 24 150 square meters.

  • 29may

    Facility is a member of ISSA

    Facility Optimum Bulgaria became member of ISSA, the Worldwide Cleaning Industry Association.

    ISSA is the most prestigious professional organization in the world, bringing together specialists from wide range in the field of cleaning.

    Facility Optimum is part of the global database of the Association, including worldwide suppliers of cleaning products and services.

  • 30may

    Address with a new partner in Pernik

    Address Real Estate has a new franchise partner in the town of Pernik. The company is General Land OOD.

    The partnership contract was signed on May 9th in the Address’ central office in Sofia.

    Pernik and the region of the city become more attractive for the real estate market.

  • 29jun

    Eurostat Annual Monitoring Took Address Data

    In June Address took part in the Eurostat annual monitoring of the rent levels for certain housing types in the capitals of the EU member states.

    The necessary information was gathered by a consultant of Eurostat through interviews with representatives of selected real estate agencies who have met the professionalism criteria of Eurostat and take active part on the Bulgarian market.

  • 30jun

    New Coffee Chain Opens In Polygraphia

    New coffee chain opens its first site in the Polygraphia Office Center later this summer.

    The first Via Cafe will be located on the ground floor occupying an area of ​​173 sq.m. in the Business Center on the Tzarigradsko Shose Blvd. Via Cafe will offer coffee specialties in new and original recipes, all carefully prepared by professional baristas.

    Through this establishment on the Bulgarian market comes the famous Turkish dessert chain “Caucasus”. The ambition of the founders of the coffee chain is to become a favorite meeting place for both business meetings and life and the moments chosen for relaxation and entertainment.

    The chain is owned by a Bulgarian company whose plans include opening new locations in Sofia and the country by the end of the year.

  • 30jul

    Advance With Updated Certificate

    Advance Address Valuations updated its valuation certificate. The Chamber of Independent Valuators In Bulgaria issued a new certificate for the company’s appraiser qualification. It officially certifies Advance as valuator of:

    • Real Estate

    • Machines

    • Equipment

    • Enterprises

    • Claims

    • Agricultural Land

    • Plantations

  • 29aug

    Property Campaign by Address

    August brought improvements on the website of Address Real Estate. The innovations aim more visits and customer interaction.

    Some of the improvements include the introduction of the advertising module “Properties in Campaign” which lists the most attractive offers for sales and rentals. The property fans will be able to share the offers in social networks lie Facebook and Twitter. This is great opportunity for the owners selling with Address because it guarantees better market exposer to their offers.

  • 30aug

    Facility Won DSK Bank And Groupama

    DSK Bank (part of OTP Group) and Groupama became clients of Facility Optimum Bulgaria.

    The leading Bulgarian bank and its insurance broker trusted the maintenance and cleaning services in its central administrative building and their key offices across Sofia to Facility.

  • 30oct

    AG Capital with a new address

    In mid-October AG Capital and the companies from the group have moved in their new home the POLYGRAPHIA OFFICE CENTER. The modern business center is situated at 47 A, Tzarigradsko shosse boulevard.

    The building is one of the Sofia’s famous architectural symbols. Genuinely transformed into a contemporary business location, it combines in a unique way modern and functional business premises, comfortably seated in a building which brings the remarkable architectural spirit of the 50’s of the XX th century.

    Especially made for satisfying even the highest business demand for comfort, functionality and representative appearance the building is unique because of its location in the heart of the city, in close proximity to Borissova gradina city park and all main city roads.

    The POLYGRAPHIA OFFICE CENTER is the prestige choice of well renowned companies such as: Ernst and Young, GfK Bulgaria, Raiffeisenbank, Groupama, Ubisoft, the Swedish Republic diplomatic mission, Bulgarian – Scandinavian Commercial Chamber, SAAB International, Timeline, Piccadilly chain food, Via Café and others.

  • 09feb

    Raiffeisen Bank headquarter moved in Polygraphia

    Polygraphia Office Center has won a new client in the contest between the business complexes for attracting renowned tenants. The Raiffeisen Bank Bulgaria signed a contract hiring 2400 square meters in the building. “Because of the Raiffeisen’s expansion in the last years the building of its central management department wasn’t enough for our employees”, The bank’s General Manager Mr. Momchil Andreev said. “We made an investment in order to work in better working environment and to serve our clients better. In Vienne where the Headquarter of the Raiffeisen Bank is located many office buildings of good quality are in fact well modernized and refurbished old buildings of historical significance. The same situation here we see here with the Polygraphia office center, built in the fifties of the XX century – entirely preserved from outside and completely modernized inside.

  • 12mar

    Polygraphia Office Center with its Grand Opening ceremony

    The official opening ceremony took place on 5th of March 2012. The evening cocktail was organized under the motto “Classic style, modern function” inspired by the preserved classic architectural facade elements of the building and its entirely new function of a modern business center.

    According to the Bulgarian inauguration tradition the building was officially opened by its owners, the shareholders at BLD Office Park Mr. Christo Iliev, Mr. Dimitar Savov and Mr. Raymond Terafranca and by cutting the Bulgarian national ribbon.

    Special evening attendees were many bank CEO’s, business partners, companies with offices in Polygraphia, suppliers and media.

    The museum gallery of modern art showcased its fine pieces – works of Picasso, Chagall, Matisse, Miro and Andy Warhol.

    For all the guests there was a special surprise. The Polygraphia Grand Opening Ceremony had its celebrity participating in the program – the Hollywood actor Ben Cross, who had prepared its music show program accompanied by Tony Zlatanov Trio.

  • 23apr

    First football tournament “Polygraphia cup”

    The first football tournament from the initiative “Polygraphia cup” hosted by AG Capital and BLD Asset Management took place on 20 and 21 April 2012 on the fields of the complex Sport’s Sofia in the Borisova garden city park. Six football teams in total participated in the contest – GfK, Groupama, AG Capital, Raiffeisen bank, Polygraphia united and the team of the “24 hours” national newspaper.

    The tournament is the first sports event from the initiative planned with the purpose to build friendly corporate environment between the companies having their offices in the Polygraphia Office Center. Referees on the tournament were professionals licensed by the National futsal league.

    After the challenging replays the bronze medals go to the team of “24 hours” national newspaper. The final match between Raiffeisen bank and the AG Capital ended in a result 2:5 and the Polygraphia cup has been won by the team of AG Capital.

  • 14jun

    AG Capital attracts EUR 6.5 million of equity investment in its debt collection company

    In a recent transaction Frontex International, the leading debt collection company in Bulgaria has received significant amount of private equity capital which will be used by the company to acquire non-performing receivables from bank, telecoms and utility companies.
    Investor in the Company is Emerging Europe Accession Fund (EEAF), a private equity fund managed by Axxess Capital. EEAF has acquired the controlling stake in Frontex International. The investment of EUR 6.5 million represents to the largest part a direct investment in the company and aims to provide the financial resource needed to support company’s investment plans for acquisition of non-performing receivables.
    Established in 2009 by AG Capital, Frontex International has experienced fast development by offering to the market efficient integrated debt collection services at each stage of delinquency. Frontex has built and maintained a strong and diversified client portfolio consisting of most of the banks in Bulgaria, all telecom operators, as well as a lot of insurance and utility companies. Frontex has developed a CRM solution, individually designed for the needs of the company, which has been integrated with one of the world’s best call center platforms of CISCO. At the time of transaction the company employed over 120 employees. Frontex is a member of the International Association of Collection Agents – ACA International, as well as of the Association of Debt Collection Agencies in Bulgaria, members of which are only the largest and most respected debt collection companies in Bulgaria.
    In 2012 Frontex has started a new business line – acquisition of delinquent consumer receivables and until the date of transaction has acquired debt portfolios with a value exceeding EUR 3.2 million.
    „AG Capital’s strategy involves establishing and developing successful companies and we are happy to have international partners in many of them”, said Christo Iliev, President of the Board of Directors of AG Capital. „By attracting financial partner such as Axxess Capital we aim to enter actively on the debt acquisition market and to develop the company into an indisputable leader – both in receivables collection and acquisition. ”
    „Frontex is our most recent investment in the financial services industry. We have been monitoring the market both in Bulgaria and in other countries in the region for several years and believe in its potential for a dynamic growth. The company is fully consistent with our investment strategy – Frontex has secured a large portfolio of clients and has the necessary capacity and potential to become the market leader.“, said Pavlin Petkov, Regional Director for Bulgaria, Axxess Capital.
    Additional information:
    AG Capital is the largest Bulgarian privately held investment group, specialized in offering full scope of real estate and financial services. AG Capital has developed its first company – Address Real Estate, 20 years ago, and currently owns 10 companies with over 1600 employees. Among AG Capital’s most successful companies besides Frontex are also: Address Real Estate, Forton International, Facility Optimum Bulgaria, Advance Valuations, Unique Estates and others.

    Axxess Capital is a private equity fund manager currently managing approximately EUR 250 million in three different funds, designed to take advantage of investment opportunities in Southeastern Europe, and focusing primarily on Bulgaria and Romania. Major investors in Emerging Europe Accession Fund funds are: European Bank for Reconstruction and Development (EBRD), European Investment Fund (EIF), Black Sea Trade and Development Bank (BSTDB) as well as other institutional investors. Until now the Axxess Capital has invested in over 35 companies in Southeastern Europe. Investment targets are successful and well managed companies with strong growth potential primarily in: business services, financial services, logistics, IT&C, healthcare and other industry sectors. Among the most important selection criteria for investment are the company management integrity and the overall industry and market perspectives.

  • 06jan

    Vesela Ilieva, CEO of Unique Estates in Forbes Magazine

    Marking the end of a successful 2013, Mrs. Vesela Ilieva, CEO of Unique Estates, member of AG Capital shared the latest trends and developments in the luxury real estate segment in a special interview for Forbes Magazine.
    See the full article here.
  • 16jun

    Unique Estates transforms its office in a modern art galery

    The luxury real estate company Unique Estates, member of AG Capital transformed its office in a modern art galery. On June 13th the company hosted the Real Art Summer Cocktail together with The Modern Art Galery. The event gathered members of the art and business society in Sofia, which was able to see paintings of Pablo Picasso, Hunt Slonem, Peter Blake, Fernand Leger, over a glass of Taittinger.
  • 27oct


    Confidence builds up in Bulgaria’s market

    Growth in the European commercial real estate market will accelerate over the next two years, which in turn will benefit Bulgaria by creating more favorable conditions for foreign direct investment, said global commercial real estate advisor Cushman & Wakefield and its alliance partner in Bulgaria and Macedonia Forton at a press conference in Sofia.
    The two companies are strengthening their alliance. Forton rebranded with the aim to achieve stronger recognition as well as to increase the confidence of international investors and corporate clients in Bulgaria.

    Rising investment volumes in Europe

    „Europe has the eye of the world“, said Peter Victor, Senior Managing Director of Cushman & Wakefield for EMEA and Head of International Desk. „Investment demand is growing to new regions and sectors while the interest in development increases. ”
    According to the latest data, Bulgaria’s investment market reached EUR 114 million year to date, in a total of 26 transactions and is now 54% above the reported volume for the entire 2013, said Forton.
    “We see a considerable increase in demand for land as well as for office and retail space with potential for revenue increases after successful financial restructuring, additional investments and the attraction of new occupiers”, said Michaela Lashova, MRICS, Managing Partner at Forton. “What is more important however, we have experienced a stable growth in occupier demand for office and retail space. This gives greater confidence to international investors who are expected to show higher levels of activity in the following months.”

    More investment in the real economy

    Compared to the boom years for the commercial real estate markets in Central and Eastern Europe up until 2008, higher growth rates from 2015 on are expected to be a result of not only capital flows to real estate but also to other, non-financial parts of the economy. “Business process outsourcing and a trend for nearshoring of manufacturing activities will bring numerous benefits to Central and Eastern Europe”, said Peter Victor. “The CEE markets will see growth in demand for commercial real estate, but nevertheless they still have relatively higher levels of supply to absorb,” he noted.

    New sources of growth

    Bulgaria is considered to be in a favorable position to capture a good deal of the demand for new locations for BPO activities and shared service centers. According to Cushman & Wakefield, Bulgaria ranks third among European countries after Romania (world number one) and the Czech Republic (world rank 13th) as attractive BPO/SSC location as human capital remains the top challenge for CEOs, said Peter Victor.
    The share of IT and outsourcing sectors of total office take-up in Sofia (as measured by leasing activity plus owner-occupier absorption) has gone up from 40 percent in 2012 to 52% in the first nine months of 2014, shows the latest survey of Forton. "The office market in Sofia has been experiencing growth for already three quarters now, while the cumulative take-up volumes as of September 2014 exceeded those for the full 2013,” said Michaela Lashova.

    Globalization and technology

    The emerging trends of globalization and development of online sales channels in the retail industry are causing a shift in focus towards prime markets and locations. Meanwhile, technology presents an important opportunity for quick access to new markets. The end result hence are the more rigorous requirements for new retail projects.
    "The supply of retail space now depends not only on construction but also on the closing of existing projects,” said Michaela Lashova. "The retail market is in the process of recovery and it is occupiers that still set the rules. In recent months, several new shopping centers were released on the market proving that there is still room for professionally planned and managed projects. "
    "The trend towards outsourcing production to nearby destinations is expected to strengthen the incentives to invest in Central and Eastern Europe,” commented Peter Victor. The other important growth factor for the industrial and logistics market will be the boom of e-commerce.
    According to Cushman & Wakefield’s estimation Bulgarian industrial and logistics space market is currently at the lowest phase of the business cycle from where it is just starting to grow. Nevertheless a lack of new construction has caused prime rents in Sofia to rise from €3.5 to €3.75 per sqm per month in the end of Q3 2014.

    Positive outlook

    Overall, both globally and locally, commercial real estate sentiment is positive. Consultants project moderate but accelerated growth compared to the last two years.

    "Led by the western European markets, prime rents are anticipated to grow by 1-2% this year, 2-3% over the next year and 3% in 2016," said Peter Victor. "Investment demand will continue to run ahead of the occupier," he added.
    "The Bulgarian market is ever more closely tied to Europe," said Michaela Lashova. “Although local conditions differ from market to market, business is becoming more global, whole sectors of the economy are dominated by international companies and investors cross borders in search of higher returns. Largely, as a result of the above mentioned trends, the last nine months of 2014 were recognized as the strongest for commercial real estate market in Bulgaria since 2009. "
  • 12dec

    Address CSR Event

    On December 4th in Sofia was held the Annual Culinary Bazar of Address. It is part of the CSR Programe of the company aiming to support children in need. The event is organized together with "Dechitsa" Foundation. As part of the initiative this year were also cometitor brokerage companies such as Mirela. They supported the initiative and with all employees involved Address managed to raise over 3500 BGN for the worthy cause.
  • 18dec

    AG Capital at Building of the Year

    AG Capital was the Golden sponsor of the National Contest Building of the Year 2014.
  • 05jan

    The Golden Club Cocktail of Unique Estates

    Following the tradition to celebrate the end of the year Unique Estates hosted the Golden Club Cocktail for company's most exclusive clients and partners. This year the luxury event was held in one of the most emblemathic buildings in Sofia - Krim Restaurant. The guests were welcomed personally by Mrs. Ilieva and they were able to take an exclusive tour of the landmark building. 
  • 16feb

    AG Capital TOP 100 Ceremony

    AG Capital is a company, which cares of its employees. The Board has been conscious of the role of people as they are the most valuable and important asset. All through the way to becoming the largest real estate holding in Bulgaria, the Group has put the focus on the professional teams in all its companies as the driver to success. 

    This is why every year AG Capital hosts the TOP 100 Annual event, which aims to outline the most successfull 100 emploeeys within the Group and to honour their results and dedication.

    In 2015 the TOP 100 event was held in February in Studio 5 jazz club and as every year it was one of the most expected event within the group. Among the awars that have been given were: CEO of the year, Event of the Year, CSR Company of the Year, Employee of the Year, Business Deal of the Year, etc. 
  • 19mar

    Real estate investors looking again at Southeast Europe

    Real estate investors looking again at Southeast Europe

    The 2nd RICS Real Estate Valuation and Investment Conference in Bulgaria brought the region to the spotlight

    Bulgaria’s Deputy Minister of Regional Development Nikolai Nankov received the first copy of the IPMS for Office buildings in Bulgarian

    “A flood of money” caused by the European Central Bank’s quantitive easing and the resulting yield compression in mature Western-Eruopean markets offers an opportunity for Central and Eastern Europe and for Bulgaria in particular, to return to the focus of the international real estate investors, the 2nd RICS Valutaion and Investment Conference in Sofia heard.
    The message was conveyed in the presentation of Jörn Stobbe, RICS Europe Board Chairman, Forton, a Cushman & Wakefield Alliance Partner, organized the conference with the support of the RICS and the Chamber of Professional Valuers in Bulgaria.

    According to Mr. Stobbe it will take time for money to move beyond the core Polish and Czech markets to other parts of Central and Eastern Europe. For Romania and Bulgaria the return of the international investors is expected in the medium term. With regard to property markets in Europe he said the weak economic growth would be a challenge. As to Bulgaria the low transparency in transactions and corruption are main issues facing international investors.

    "Foreign investors still don’t feel secure enough for the Bulgarian market, although the opportunity is here to invest in core assets on a non-core market and in the same time to diversify their portfolios and to enhance performance", said Michaela Lashova, MRICS, Executive Director of Forton. According to Forton 2014 ended with 223% growth in the commercial property transaction volumes . The market totaled €256 m. The most part of this growth was driven by domestic capital chasing distressed deals.

    As an important condition for Bulgarian market to attract foreign real estate investors Michaela Lashova pointed the implementation of international measurement and valuation standards which would strengthen investor confidence. The application of the International Property Measurement Standard - IPMS for Office Buildings was one of main topics of the conference. The Deputy Minister of Regional Development and Public Works Nikolay Nankov received the first copy of the IPMS for Office Buildings from Sander Scheurwater, Head of External Affairs & EU Liaison in RICS Europe. Bulgarian is the fourth language in which the standards are available after English, Chinese and Russian.
  • 24mar

    Forton sponsored Office Building Construction and Investments Conference

    The Annual conference "Office building construction and investments 2015", part of the Innovation Forum Series 2015 outlineed and summarizeed the main trends and the good models in the separate parts along the road of the investment process.

    Stanimira Pashova - Head of Office Space at Forton took part at the opening panel.

    Main accents:

    - Investments in office buildings - how to create quality assets

    - Quality design of office buildings - а key challenge in creating first-class assets

    - Innovative approach in façade engineering as a main component in office buildings design

    - Best practices in design – improving the quality of the work environment by achieving energy efficiency and optimization of operating costs by using smart building solutions
  • 16apr

    Forton - exclusive consultant of CCS


    The first shopping mall in Sofia – City Center Sofia (CCS), will be fully renovated by the end of 2015, the owner Revetas Capital said. The UK-based investment fund is embarking on a large-scale refurbishment program as well as in re-tenanting of the shopping center in order to improve its performance. The plan follows the acquisition of CCS (23,500 sqm GLA) by Revetas in 2014. According to Ryan Coopersmith, who is responsible for the redevelopment of the shopping center, the program is already in progress with first phase including a complete interior renovation of the mall. Construction works will be performed in all the common areas – parking, toilets, lifts, food court, ceilings etc. The escalators will be relocated with the aim to optimize the shopping center’s high footfall. The second phase includes a façade and entrances renovation.

    „The main reason for Revetas Capital to invest in CCS is that it has the best location for the shopping center – in the heart of Sofia, near an area of high population density”, said Ryan Coopersmith. City Center Sofia was the first modern shopping center in Bulgaria opened in 2006. Its anchors include a Piccadilly supermarket, a Technomarket electronics store and a Cine Grand cinema. It has a prime location within minutes’ walk from the National Palace of Culture and the Hilton Sofia hotel, neighboring the central business district of Sofia and the upscale Lozenets area, and enjoys excellent accessibility through Cherni Vrah Blvd., a with subway, tram and bus stops just in front of its main entrance. City Center Sofia has retained a healthy 14,000-strong footfall per day despite the rise in competition in the most recent years as well as a well-working food court with tenants such as McDonalds, KFC and Subway.

    During the refurbishment works the mall will remain open for customers. After the renovation program is completed the name of CCS will also be changed to Park Center – the brand for the shopping centers operated by Revetas Capital. The re-tenancy concept of City Center Sofia is assigned to Forton, a Cushman & Wakefield Alliance Partner. Forton is appointed as exclusive leasing agent of the shopping center. According to Rosen Genev, head of Retail Space Services in Forton, the new tenant mix will be oriented to middle- to high-end fashion, shoe and sports brands, with a focus on the everyday shopping, services and entertainment.

    The selection process will aim to meet the needs of people who live or work nearby – young professionals and families with children.
    “Our goal is to reposition CCS on the market as well as to distinguish it from the other shopping centers, especially those ones in close vicinity”, said Rosen Genev. He added that Forton is already in negotiations with potential tenants and first new stores in CCS are expected to open in the beginning of the autumn. According to the new concept some store relocations will be needed within the shopping center. The anchor tenants will be positioned on the ground and first floors. A high-end restaurant with terraces and a spacious kids center are planned on the last level. The Food court also will be enlarged.

    The existing leases of the well-performing tenants will be extended but some stores will be relocated.
  • 11may

    Christo Iliev at the Annual CEIBG Event

    As a vice chairman of the biggest business non government organization CEIBG, Mr. Iliev took part at the special spring event. Among the othe participants were the Prime Minister Mr. Boiko Borisov and members of the cabinet.
  • 01jun

    Facility Optimum Bulgaria awarded the most green company for 2014

    On a special ceremony FOB, member of AG Capital was awarded the most green company for 2014 in the category: "Businees buildings, office space and commercial real estate". On the 5th Annual event supported by the President of Republic of Bulgaria and with the specail participation of the Minister of the Ecology, Mrs. Bisera Ivanova, CEO of FOB received the well-deserved prize for company's day-to-day implementation of new green business practices, energy saving and efficiency techniques and constant improvement.

  • 02jun

    Cushman & Wakefield to Merge with DTZ

    The new entity will operate under the Cushman & Wakefield brand name. Iconic Cushman & Wakefield brand to unite the combined organization:
    - Client-centric and highly skilled talent to drive broader and deeper capabilities
    - Combined Company to create a strong global competitor in every service-line and major market worldwide
    - Well capitalized owners committed to investing in the Company’s future growth

    "We are very excited about the new opportunities this merger will create for the new, combined entity. A significantly larger, global platform will put us in position to compete at the very highest level, opening doors for us with the very largest, international clients.", said Mrs. Michaela Lashova, CEO of Forton/Alliance Partner of Gushman&Wakefield for Bulgaria and Macedonia, and member of AG Capital.
  • 11jun


    According to Forton, C&W Alliance partner for Bulgaria and Macedonia, member of AG Capital, the demand for office space continues to rise and in the first half of 2015 has registered its highest level after the crisis. For the period the tenant requests were for over 100 000 sqm in Sofia and the big cities, according to Forton, member of Cushman&Wakefield Alliance in Bulgaria and Macedonia with over 10 years of experience of commercial real estate advisory services.
    This is 40% higher compared to the same period of 2014, when the demand totaled to around 70 000 sqm. Over 60% of the space in demand are for companies operating in the field of ITT and BPO.
    "The companies from those sectors have been key tenants on the office market for more than a year. However, on the recent months not only the volume of demand is increasing but also the size of the searched offices – many companies are growing and need larger spaces", said Stanimira Pashova manager" Office space" in Forton.
    According to her while the average size of rent transactions for the last year was 1000-1400 sqm, now demand for 3000-5000 sqm and up is registered. Most of the companies are looking for class A office buildings with excellent location, large floor space (over 1000 sqm) and easy transport access, situated alongside the main boulevards or near metro stations.
    The limited supply of quality space and the stabilizing rents resulted in arousing development activity and in the recent months has been renewed or started the construction of nearly 66 000 sq m office buildings. Among the restarted projects are City Tower on Macedonia Square, SPS Tower on Bulgaria Blvd. and Blu Offices on Brussels Blvd.
    According to Forton with the renewed construction of Blu Offices about 100 000 sq m are expected to be completed by the end of 2015. The total space of the projects under construction is 178 000 sq m and other 57 000 sq m are ready to be started.
    This will restore the balance between supply and demand and will keep rents in the range of 10.5-12.5 euros/sqm/month for class A buildings in Sofia.
    Although the Sofia market attracts about 90% of the demand, Forton register increasing tenant interest in other big cities such as Plovdiv, Burgas, Varna. Many companies in IT and BPO sectors are looking for establishing second office there due to the increasing competition and the shortage of skilled employees in the capital city. What they are looking for is the availability of well educated people with foreign-language skills. Main problem is the lack of suitable office space.
    In response of the rising tenant activity over 20 000 sqm office space are currently under construction or reconstruction in Plovdiv. In Burgas the first business center class A – Smart Center, will be completed this autumn. The building will comprise 10 000 sqm office space and is designed for the needs of the outsourcing companies in the city.
    Outside Sofia rents also remain stable with levels between 6 and 8 EUR/sqm/month in Plovdiv and around 6 EUR/sqm/month in Varna and Burgas.
  • 22jun

    Unique Estates Life Magazine Cocktail

    On June 10th, Unique Estates, part of AG Capital opened its exclusive office to welcome some of company's most valuable clients and partners. Over a glass of wine all the attendees were able to see the first issue of Unique Estates Life Magazine. It is a special issue with all the latest luxury news and lifestyle publicatons, interviews and exclusive offers. During the summer cocktail the company announced one of its newest project - Residential Complex Kalina. 
  • 03aug



    Land development segment reached its strongest quarter since Q4 2009 with reported transactions of over 24 million/EUR. According to official data relating to the period April–June 2015, land deals contributed to nearly 75% of the investment activity. The total market volume in the second quarter amounted to 33 million/EUR.

    In total, commercial real estate deals for the first half of 2015 added up to a total of about 64 million/ EUR. The most notable transaction during this period was the 85,000 sqm development site situated behind Sofia Central Station, where Spanish company Riofisa plans to construct a high-scale multifunctional complex. The new owner of the plot, an associate of the Spanish bank group Sabadell, acquired the land for the amount of 10.2 million/EUR.The figures quoted do not include Plaza West trade center, currently under construction, since the asset is only optioned to 33 million EUR and not executed yet.

    A strong presence of investment activity, more specifically such orientated towards land acquisition and development has been observed since last year forward. In fact, the following trend is a strong indicator of growing entrepreneur activity. Up until recently construction sites near major boulevards and metro stations were mainly intended for potential office projects however, in the last couple of months there is a key shift in investor’s attitudes who are willing to consider other key alternative, namely residential projects.

    “Sofia residential market is recovering at fast pace and its once again attractive for investors. The scale of planned projects definitely draws attention – up until recently investments were mainly concentrated towards small residential projects, but now we see interest for much larger and substantial buildings”, commented Michaela Lashova CEO of Forton/Cushman&Wakefield alliance partner for Bulgaria and FYROM.

    “In view of the growing entrepreneur activity, in the following months I expect the strong interest for development sites to carry on at this pace. Our aim is for Forton to keep its strong position in this market”, added Vladimir Gurdjiev, Head of Industrial Space & Land Development.
    The performance of all other segments in the commercial real estate market remained stable during the last quarter. However, the second half the year is expected to bring greater dynamics into the market. The apparent scarcity of competitive, high quality projects that meet tenant’s requirement is still a problem and even though incentive for investment in office and industrial projects.
  • 13aug

    Up-to-date business real estate news for Q2 2015

    Insufficient stock of quality office space projects prompt tenants to sign on schemes yet at planning stage


    The insufficient stock of quality office space projects prompt tenants to sign on schemes at planning stage reported the commercial real estate advisory company Forton, Cushman & Wakefield Alliance partner for Bulgaria and FYROM. According the company’s research over 20% of office space was leased in the most exclusive high-scale project for 2015 before acquiring use permit - Capital Fort. Among the listed tenants are mainly companies from the IT and BPO industries such as, Skrill (Optimal Payments), Scale Focus, Apcom.
    Apart from that, Building 1 in Trade Center Europe, currently under development, is also expected to be completed with high percentage of pre-leased office space. In the beginning of summer, Sensata Technologies was the first to sign a lease for 4000 sqm. Overall, despite the apparent dynamic start of 2015, in the second quarter of the year it is witnessed a slight delay not only in relation to lease transactions but also in terms of deals with completed projects.The only project that acquired use permit in Sofia during this period is the new head office of Central Cooperative Bank (13 000 sqm) situated in place of the former “Pliska” Hotel. In the meantime however, the level of construction in the segment is becoming more and more active and total volume of completed projects during the year is expected to exceed 100 000 sqm.

    "We firmly believe that the relative slowdown in the market in the second quarter is temporary and will be surmount in the coming months, given the stated demand and new projects," said Stanimira Pashova, Head of Office Space Department, Forton / Cushman & Wakefield. Also, according to her, the average occupiers continue to be companies from IT and BPO sectors, where mergers and acquisitions worldwide have led to changes in their business at regional level. As a result of this reorganization they are now seeking larger areas compared to previous years, but decisions are taken slowly and settlement of transactions takes longer.

    Bulgaria, however, retains leadership position as an outsourcing destination and displays strong competitive potential in comparison with other markets of Central and Eastern Europe. Forton / Cushman & Wakefield experience, together with preliminary studies in the choice of new locations for outsourcing point that important for companies are a wide range of criteria - the political situation and economic indicators in the presence of large university centers, the level of computer skills and knowledge of foreign languages to pay in different sectors and the competitive environment.
    Sufficiency with office space that covers the requirements of these tenants such as the location and technical security is also critical when choosing a location. In the second quarter of 2015 rental market remains driven mainly by relocations, most companies are looking for larger offices and higher quality. The share of vacant space continues to decrease and to the second quarter of 2015 fell below 25% at 29% a year earlier. In most sought after by tenants projects vacancy is only 2%. Rents remain stable in prime office projects- in the range 10.5-12.5 EUR/sqm.

    After a wave of deals with undervalued assets in the last two years now as part of the projects are in progress concepts for new market positioning. An example is the reconstruction started in April of City Center Sofia, which is expected to be completed in early 2016. In the autumn are expected to be signed contracts with anchor tenants for more than 5,000 sqm in shopping center with the mediation of Forton / Cushman & Wakefield as the exclusive leasing agent. "The market for retail space enters a more mature phase that clearly stands out successful projects and those whose concepts are not working. While the first group shopping centers strengthen their positions, the remaining need for a comprehensive restructuring to continue to operate in an increasingly competitive market, "said Rosen Genev Manager " Retail " in Forton / Cushman & Wakefield. Overall, the first half of 2015 passed without new commercial projects being launched and the total market volume was 763 000 sqm. Rental levels for prime locations in Sofia malls remain stable - 20 EUR/sqm; Vitosha Blvd. rents are stable - 44 EUR/sqm.

    International brands of fashion and shoes in the low and middle price range remain among the most active tenants in the second quarter, the expansion of some of them already oriented to the smaller regional centers with a population of over 100,000 people. During the period, active expansion was noticed from Polish shoe chain CCC , which opened stores in Mall of Sofia, as well as Galleria Burgas and Galleria Stara Zagora. In Pleven Tom Tailor and United Colors of Benetton signed contracts with the Panorama Mall. H & M also continued its expansion in the country. Retail parks segment also sensed movement, catalyzed by the desire of some large traders to diversify and optimize their network of stores. The most visible of which was Retail Park Varna, where IKEA opened a 2500 sqm first country center for orders. Nearby, already present are toys chain Comsed and Decathlon. Also in Varna, Praktiker began construction of a new store next to "Technopolis" with witch both have a common owner.
  • 01sep

    AG Capital Academy with AUBG

    Since the very first days of its operation AGCapital has been conscious of the role of people as they are the most valuable and important asset. All through the way to becoming the largest real estate holding in Bulgaria, the Group has put the focus on the professional team as the driver to success. The Board of Directors believe in Life Long Learning and thus developed the AGCapital Academy together with one of the most presigeous universities in Bulgaria - the AUBG. 
    The Academy aims to encourage strategic thinking, innovation and professional development of company's managers. It is a long term programme based on case studies model of education like leading international institutions such as INSEAD and the Harvard Business School. The AGCapital Academy will offer a first class education developed especially for its managers and leading employees. 
  • 09sep

    Forton closes signature office market deal

    Forton/Cushman&Wakefield Alliance for Bulgaria and FYROM, member of AG Capital successfully relocated Visteon in one of the biggest office market deals of the year. The company will occupy 7300 sq.m. in the landmark office project in Sofia - Capital Fort. "We firmly believe that the relative slowdown in the market in the second quarter is temporary and will be surmount in the coming months, given the stated demand and new projects," said Stanimira Pashova, Head of Office Space Department, Forton / Cushman & Wakefield. Also, according to her, the average occupiers continue to be companies from IT and BPO sectors, where mergers and acquisitions worldwide have led to changes in their business at regional level. As a result of this reorganization they are now seeking larger areas compared to previous years, but decisions are taken slowly and settlement of transactions takes longer.
  • 17sep

    Advance celebrates 10 Years

    On 18th of September Advance Valuations, member of AG Capital Group of companies welcomed more than 100 guests in Sense Rooftop Bar. The party was dedicated to company's 10 years of operation. Host of the event was Mrs. Bojilova, CEO of Advance, who thanked clients and partners for their support and cooperation throughout the years. Mr. Christo Iliev, Chairman of Board of Directors of AG Capital made a keynote speech to the audience.
  • 15oct

    AG Capital Executive Academy

    From 8th to 10th of October in AUB in Sofia was organized the first session of AG Capital Executive Academy. The Board of Directors of the Group believes in the principle of Lifelong learning and is driven by investing in companies' most valuable asset - people. This is why 50 managers from 10 companies took part in the educational process in two courses: Strategic Management and Leadership. The Academy was officially opened by Mr. Kevin Aspegren, President of AUB and Mr. Christo Iliev, Chairman of Board of Directors of AG Capital. AG Capital Academy is a first class education based on leading examples, such as Harvard Business School and INSEAD. After the Academy all participants received Certificates, which recognized them for completion of the AG Capital Executive Academy.
  • 25oct

    Forton celebrates 10 years of experience

    On October 22nd 2015 at Capital Fort office building, Forton, which is member of AG Capital Group welcomed clients, partners and friends for company's 10 Years of Experience party. Special guest of the event was Mr. Peter Victor, International Relations Director of G&W for EMEA. Mr. Christo Iliev opened the party with some key facts from Forton's history so far. CEO Mrs. Michaela Lashova had a chance to thank company's clients for their trust throughout the years and wished even more successful projects and motivated team members.
  • 02nov

    New wave of office and industrial projects step on the market

    According to the regular market research of Forton, member of AG Capital Group:
    • Nearly 50% of the office projects currently under construction are either pre-leased or in the process of rent negotiation with potential tenants.
    • Land transactions add to 60% of investment volume in the last three quarters of 2015.
    A wave of new office and industrial projects set the market scene in the third quarter of 2015. Growing demand for quality commercial space under lease combined with stable rent levels considerably boost market participants’ confidence to capitalize on new construction, as detailed in the extensive analysis of Forton, alliance partner of Cushman and Wakefield for Bulgaria and FYROM with now more than 10 years of experience in the commercial real estate market. In the retail segment competition has been enhanced by those projects in the process of restructuring seeking for best alternatives for strategic positioning on the market. Sustained market trend is also the acquisition of land intended for the development of new office, industrial or residential project. In turn, land transactions add to 60 % of investment volume in the last three quarters of 2015. This amounts to €58 millions of nearly €97 millions transactions in total for the period. “Active investment in land and new projects indicate that commercial real estate market is stepping up in to a renewed ascending cycle. We expect this trend to continue to drive the market in the upcoming months and to overall mark the year”, commented Michaela Lashova, CEO of Forton/Cushman & Wakefield.
    Indicative of the shift in attitudes and entrepreneurship disposition observed in the capital city is also the growing interest in higher scale projects offering wider diversity of commercial premises in terms of type and use. According to Forton/Cushman & Wakefield this in particular also sets the market for land and large scale transactions, which will highlight of the year.
    The office market in Q3 2015 in Sofia was also market by laying the building foundations of Phase IV of Expo 2000, as well that of Bernard Investments new project situated at blvd. Tsarigradsko shose in the capital.
    Despite emergent investments in new projects the supply of quality office space remains scarce. This is also the reason many of the tenants to enter into lease agreements yet at development stage of the sites, this appears to be an ever more common phenomenon on the market. According to Forton / Cushman & Wakefield official data, from a total of 167 000 sqm under construction slightly less than 50% are either pre-leased or under rent negotiations with tenants.
    On the other hand, strong demand for logistics and light industry sites, together with growing rents lead to the initiation of several new speculative projects in Sofia in the first nine months of the year. Thus, with their completion within this year or in early 2016 the supply in the rental market is set to grow by 30,000 sqm. Provided market dynamics, new speculative space is expected to be quickly absorbed.