Tishman has kept a continuous expansion process by providing outstanding real estate services in different parts of the world. The company’s most recent expansion was in to Sofia, Bulgaria where the company is undertaking the 250 million euro Sofia Airport Center development. Tishman’s decision to operate in Bulgaria is a commitment to the potential of the Bulgarian real estate market. The Bulgarian team of highly regarded real estate professionals is providing property and asset management for investors and clients as well.
Tishman’s initial acquisition in Bulgaria was the TNT building in Sofia, the Bulgarian headquarters of TNT International, a worldwide courier company. The TNT building contains approximately 11,000 square feet of warehouse and approximately 14,000 square feet of office space immediately adjacent to Sofia International Airport.
Five years after joining the European Union (EU), Bulgaria is the focus for new investments with many multi-national companies. The Bulgarian Government has introduced a number of policies to minimize the consequences of the global financial crisis and its impact on investment growth in certain sectors. By introducing an incentive low tax rate in the region (10% flat tax for both personal and corporate income), and implementing a strict fiscal discipline, the country of Bulgaria remains attractive to foreign investors. With a talented, multi-cultural, multi-lingual workforce, the country has a mild climate and a convenient geographic location.
SOFIA AIRPORT CENTER
