How is the construction market in Bulgaria evolving in the dynamic environment of rising costs, risks to the economy and changing regulatory requirements?
Over the last 3 years our industry has faced real challenges related to the unsustainable prices of raw materials, materials, the rising cost and shortage of construction labour, as well as the stress that the unstable economy is placing on buyers in the market.
The truth is that we are operating in a difficult environment to predict and plan for, which on the one hand creates difficulties in the implementation of projects, but on the other hand naturally sifts out the stable investors in the market. Our company has a long-term development strategy, secured building plots and financing for several years to come, so our team works in accordance with the dynamics of the environment, but also with the clear understanding that the market does not operate in a straight line, but in a sine wave, and in the process of realization of each project, market fluctuations are only part of the steady forward movement.
We sell green homes, our projects are distinguished by excellent locations and uncompromising quality, and we also work to improve the environment in the areas of our buildings and in creating community among their residents. All this significantly increases the prices of finished homes in BLD buildings and our customers who have bought their homes from us in the construction stage, by Act 16 receive a property with a much higher real value than the one at which they acquired it.
What are the current projects BLD is working on?
Our company has 5 projects under construction and for sale - the third building of the Mopa complex, in the Manastirski Livadi - East district, the landmark luxury building Secret Gardens in Lozenets, Aviva - in the central part of the city, Stellar on Blvd. Cherni Vrah and the second phase of our Slow Life District complex of houses in nature.
By the end of the year we plan to announce two more projects for sale, one of which will be the largest for our company and will definitely offer a new vision for housing in an urban environment.
Our rule of thumb is to have at least one new project every year, but this one is definitely among the most dynamic and productive for BLD.
The different projects we have announced in 2023 are the completed apartments in MONA 3, with which we would like to see what our customers' attitude is towards turnkey ready homes and of course BLD Living, a concept that provides functional, fully furnished rental homes in an environment and community. This pilot project presents 67 apartments in the MONA2 building with reception, shared spaces for recreation, entertainment and sports for people who have high demands on their living environment - spending time in Sofia for work, training, or looking for a comfortable place to live for less than 1 year.
How does the increasing demand for energy efficient and sustainable buildings affect the construction industry? Will this trend continue as energy costs rise and the economy decarbonises?
New European regulations related to the Green Deal and targets to reduce carbon emissions by up to 55% by the end of 2030 will inevitably drive up the cost of new homes, which must meet stringent requirements in terms of materials used and system solutions. This is not a trend, but a new norm with which all investors in Europe and globally will have to comply. The Green Deal will make the difference between new and old residential buildings even more dramatic - not only in terms of living comfort, but also in terms of responsible behaviour. There are also changes that we have yet to see - for this line to be sustainable, banks will change their lending terms for housing in buildings that do not meet energy efficiency and decarbonisation requirements.
As experts in facilities management, we are involved in our projects right from the conceptual design phase. This gives a positive result to the building management processes after completion, as well as optimizing the costs of subsequent maintenance and extending the service life of the buildings and their facilities. Our involvement right from the design phase results in increased energy efficiency of our projects, low operating costs and long-term customer relationships. Facility management includes all possible activities that can lead to the extension of the service life of the building, to the comfort of the owners of the apartments in it, as well as to the formation of a mini condominium society that accepts and observes common rules of coexistence within the building and the surrounding space.
Are modern buildings becoming more digital? What are the most interesting new technologies also used in Bulgaria?
Modern buildings are becoming more and more digital and we are following global practices and introducing more and more innovations into them. In our buildings, access control facilities are a must, which not only enable remote contact between owner and visitor, but also the ability to manage access from thousands of kilometres away via mobile apps. In our buildings, heat and water metering devices are equipped with remote reading loggers. Lighting in common areas and on the façade are equipped with motion and/or light sensors and reduce the amount of energy consumed. In all our facilities we also build green areas equipped with a watering system with digital control, resulting in optimal water use and zero waste. In all our buildings, the elevator systems we use are of the highest energy efficiency class and world-class. In order to reduce heating and cooling costs in all of our buildings, we offer at least two heating/cooling options for each owner - an air conditioning option, a gas heating option, a central heating option or a heat pump heating and cooling option.
In some of our buildings, we have also installed exterior electric roller shutters and mosquito nets that can be controlled via a mobile app. We have also implemented a communication system with our customers, through which they can submit alerts, receive their invoices and have all documents concerning the building available at all times. Each subsequent building builds on the previous one in terms of digital management capabilities and the implementation of new technologies.