Leading Experts Share Insights on the Real Estate Trends in EuropeMay 10, 2019
The “Trends in the Property Market and the Experience of Europe” Conference gathered experts from near and far in Plovdiv May 8. The event—a first of its kind— began with the opening words of Maria Luisa Meroni, President of Confindustria Bulgaria, H.E. Stefano Baldi, Ambassador of Italy to Bulgaria, and Emilia Zankina, associate professor and Provost of the American University in Bulgaria. The event was organized by Confindustria Bulgaria, SDA Bocconi and the American University in Bulgaria in partnership with Galaxy Investment Group.
Lecturers at the event were specialists from Bulgaria and beyond with rich experience and knowledge in the field of real estate. Rosen Plevneliev, President of the Republic of Bulgaria (2012-2017) and AUBG Special Envoy, spoke about the importance of high moral standards in the sector, the management of the common areas in Bulgaria and Europe and the keys to cooperation between the municipalities and the state.
Giacomo Morri, associate professor of Practice of Corporate Finance & Real Estate at SDA Bocconi, spoke about the role that the real estate industry plays in a country’s overall development. “The economy would not develop unless the construction business is developing,” he said. “A region could only be competitive if the construction work is of high quality.”
Boyko Boykov, president of FIABCI Bulgaria, explained that the property market activity in Bulgaria is due to the interest rates on deposits, which are still close to zero. The market in Sofia is comparable to that of neighboring countries and regions, but the prices in Bulgaria are lagging behind, he said. According to the expert, the Bulgarian market is extremely interesting in terms of industrial properties, as certain industries, besides creating new jobs, lead to a search for land purchase across the country.
Martin Dragoev, Director Investment and Sales at Galaxy Investment Group, spoke about the development of the industrial zones around Plovdiv. The size of the investments and the jobs that are being created around Plovdiv have no parallel in the country, he said. He also described two types of property buyers. The first type buys because they have extra money, he said, while the second one has higher expectations and the ability to evaluate the qualities of a building.
The conference was the first such event that is part of the joint program of AUBG and SDA Bocconi. Because of the partnership of the two schools, the Executive Master in Finance, Banking & Real Estate (EMFBRE) is already happening for a second consecutive year. The program prepares students to offer high-quality solutions in a variety of ﬁnancial, banking, and real estate situations both operationally and strategically.
The program focuses on theoretical and practical knowledge, critical and analytical thinking and problem-solving skills while emphasizing on key corporate culture elements: a ﬁne blend of leadership and respect for others, ethics and appreciation of diversity, values and solidity.
SDA Bocconi is business school No 7 in the world, and the American University in Bulgaria is No 1 in business administration in Bulgaria.