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Construction sector in Bulgaria 2011Development forecasts for 2011-2013 |
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This report offers a comprehensive overview of the Bulgarian construction industry. It analyses the current market situation in the whole industry, as well as in each of the market segments: residential, non-residential, and civil engineering construction. The publication also provides forecasts for 3 years, until 2013, and is further enhanced by the profiles of the largest construction companies active in the Bulgarian construction market.
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Member of the Managment Board, SCA Hygiene Products
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Business Analyst, Hilti Distribution, Russia
“We find PMR staff - both market analysts and sales specialists - highly professional, helpful and open to our suggestions. We really appreciate having a business partner like PMR.”
Managing Director, Schueco International Poland
“PMR reports are a serious contribution to the market overview picture, focusing our attention on key events in the industry as well as highlighting both general and specific market indicators. Together, these components are the base for our future forecasts of construction market development and help us to plan our sales.
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Market Analyst, Alpha Cement
“PMR's analysts understand our needs well and the standard of their service has always fully met our expectations. We are looking forward to cooperating with PMR in the future as well. ”
Senior Trade and Investment Adviser, British Embassy in Warsaw
“We use PMR's services due to their analysts' extensive experience in market analysis, their high quality and level of engagement in the market research carried out for us. We consider PMR a competent and professional company and recommend them as a reliable partner in the area of economic information and market analysis.”
Senior Trade and Investment Adviser, British Embassy in Warsaw
“Schueco International Poland wishes to recommend PMR Publications, as a trustworthy market information provider. PMR's prognoses concerning the construction sector are particularly worth recommending, as they are reliable and well prepared. Using them helps our company successfully plan further development. ”
Managing Director, Schueco International Poland
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Managing Director, Maccaferri Gabions CIS
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Business Analyst, Hilti Distribution, Russia
PMR publication on the construction sector in Bulgaria:
- describes the current situation of the construction industry in Bulgaria
- presents the opportunities arising on the market for different types of companies and investors
- responds to the demand for forecasts about the Bulgarian construction market
- shows the long-term potential of the Bulgarian construction sector
- analyses possible market recovery after few years of decline.
most up-to-date information
comprehensive overview and multi-angle approach
tables presenting planned projects in each segment of construction industry
detailed profiles of top contractors
forecasts for the future development of the construction industry.
Companies in the report
Did you know...
Accor, Alfa Developments, Astaldi, Balkanstroy, Bulgarian Property Development, CBA Assets Management, CP Holding, ECE Projectmanagement, Enemona, Foros Development, GBS Infrastructure Construction, Geotechmin, Glavbolgarstroy, Globe Trade Centre, Hydrostroy Varna, Immorent, Lindner Holding, NIKMI, Planex, Prime Properties, Terna, Terra Tour Service, Trace Group Holding, Winslow Developments
“Bulgaria is the only EU country through which five road transport corridors pass.”
“In 2009-2010, the construction sector in Bulgaria was one of the worst affected by the economic crisis in the EU.”
“Maritza East 2 JSC is the largest thermal power plant in Bulgaria, with an installed capacity of 1,450 MW.”
“In Bulgaria there are 38 km of motorways per 1,000 km² of land, which is the lowest indicator in the EU.”
“The next significant supply of new shopping centres in Bulgaria is expected in the period starting Q4 2012.”
Key topics
- analysis of the Bulgarian construction market as a whole and of its key constituents, such as prices, employment and wages, number of companies, major segments, etc.
- in-depth analysis of the factors that have or may have an impact on the future development of the Bulgarian construction market
- analysis of the situation in the civil engineering sector
- analysis of the situation in the residential construction sector
- analysis of the situation in the non-residential construction sector
- profiles of major players active on the Bulgarian construction market.
In this report you can find answers to the following questions
- What is the current and forecasted value of the Bulgarian construction market and its individual segments?
- What is the expected growth rate of the market and which segment will see fastest growth?
- What are the sources of financing for transport infrastructure construction?
- How have prices in construction developed in recent years?
- What are the plans for development of the country’s infrastructure?
- Who is the biggest player on the Bulgarian construction market?
- What are the major projects in each category of Bulgarian market?
The publication is an indispensable source of information…
…when starting operations on the Bulgarian construction market…when trying to assess the potential of the market
…when effecting a merger or acquisition on the construction market
…when developing predictions regarding the future revenue stream for a company
…when analysing the structure of the Bulgarian construction market
…when monitoring projects to potentially take part in
…when estimating a particular company’s share in the market
…when making in-house analyses for the management or shareholders.
It is designed for:
- manufacturers and distributors of building materials
- manufacturers and distributors of building machinery and equipment
- companies that have already entered or are considering an entry to the Bulgarian construction market
- companies whose business is design and management of construction projects
- consulting, research and analysis firms
- government institutions, embassies, universities and research institutes
- chambers of commerce, trade and industry organisations
- financial institutions (banks, brokerage houses, infrastructure funds, investment funds, private equity funds).
Extract from this report
- In the years to come civil engineering infrastructure will be the driving force of the recovery of the Bulgarian construction market.
- As at the end 2010, the total number of dwellings in Bulgaria was 3.8 million, comprising over 10.5 million rooms.
- In 2010, Bulgarian construction companies’ revenue from civil engineering services exceeded 40% of total construction output, followed by non-residential construction (35%) and residential construction (23%).
Market commentary by expert
In 2009-2010, the construction sector in Bulgaria was one of the worst affected by the economic crisis in the European Union. In the coming years, civil engineering infrastructure will be the driving force for the recovery of the Bulgarian construction market. In line with the priorities of European programmes, road infrastructure together with ecological construction will be attracting the interest of many construction players.Bartłomiej Sosna, Head Construction Analyst
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Methodology p. 7
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Executive summary p. 9
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Macroeconomic overview p. 15
- Introduction p. 15
- Gross domestic product p. 16
- Gross value added in construction p. 17
- Gross fixed capital formation p. 18
- Foreign direct investment p. 19
- Inflation p. 20
- Economic outlook p. 20
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Construction overview p. 23
- Construction output p. 24
- Construction companies p. 26
- Employment and wages p. 26
- Construction prices p. 27
- Business confidence in construction p. 29
- Building materials industry overview p. 31
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Legal changes relevant to the construction market p. 31
- Law on public-private partnerships p. 31
- Amendment to the Public Procurement Act p. 32
- Development forecasts for 2011-2013 p. 33
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Civil engineering construction p. 35
- Situation on the civil engineering construction market p. 35
- Environmental protection-related projects p. 36
- Road transport p. 38
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Railway transport p. 42
- Plovdiv-Svilengrad p. 43
- Plovdiv-Burgas p. 43
- Sofia-Plovdiv p. 43
- Vidin-Sofia p. 44
- Sofia-Dragoman p. 44
- Sofia-Pernik-Radomir p. 44
- Radomir-Gyueshevo p. 44
- Mezdra-Gorna Oryahovitsa p. 44
- Intermodal terminals p. 44
- Air transport p. 46
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Investments in heavy industry p. 48
- Thermal power plants (TPP) p. 48
- Kozloduy Nuclear Power Plant p. 48
- Belene Nuclear Power Plant p. 48
- South Stream p. 49
- Nabucco p. 49
- Development forecasts for 2011-2013 p. 50
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Non-residential construction p. 53
- Situation on the non-residential construction market p. 53
- Industrial and logistics construction p. 55
- Retail and service construction p. 56
- Office construction p. 58
- Hotel construction p. 60
- Development forecasts for 2011-2013 p. 62
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Residential construction p. 65
- Housing stock p. 66
- Building and dwelling completions p. 66
- Housing starts and building permits p. 68
- Overview of major residential projects p. 70
- Housing prices p. 71
- Mortgage market p. 72
- Development forecasts for 2011-2013 p. 74
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Profiles of ten largest contractors p. 77
- Geotechmin Group p. 77
- Trace Group Holding AD p. 79
- Enemona p. 79
- GBS Infrastructure Construction AD p. 80
- Glavbolgarstroy AD p. 81
- Balkanstroy p. 82
- Terna AD p. 83
- Planex p. 83
- Hydrostroy Varna p. 84
- CP Holding (Building Development Holding) p. 85
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List of graphs p. 87
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List of tables p. 89
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About PMR p. 91
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Contact PMR p. 92
List of graphs
- Construction output in Bulgaria (BGN m and nominal change), 2007-2013 11
- Civil engineering construction output in Bulgaria (BGN m and nominal change), 2007-2013 12
- Non-residential construction output in Bulgaria (BGN m and nominal change), 2007-2013 13
- Residential construction output in Bulgaria (BGN m and nominal change), 2007-2013 14
- GDP growth in Bulgaria (%, y-o-y), 2001-2013 16
- Gross Value Added in construction and manufacturing in Bulgaria (%, y-o-y), 2000-2010 18
- Gross fixed capital formation in Bulgaria (%, y-o-y), 2000-2012 19
- Foreign direct investment in Bulgaria (€ bn), 2000-2010 19
- Consumer price index in Bulgaria (%), 2000-2013 20
- Construction output in Bulgaria (%, y-o-y), January 2009-June 2011 24
- Construction output in Bulgaria by type of specialisation (%, y-o-y), Jan 2010-Jun 2011 25
- Construction market breakdown in Bulgaria (%), 2005-2010 25
- Number of employees in the construction sector in Bulgaria (‘000), 2005-2011 26
- Average gross wage in the construction sector in Bulgaria (BGN), 2005-H1 2011 27
- Selling price expectations in construction in Bulgaria over the next 3 months (%), January 1997-August 2011 28
- Business confidence index in construction in Bulgaria, January 2010-August 2011 29
- Economic climate in construction in Bulgaria (%), January 1997-August 2011 30
- Limits to construction activity in Bulgaria (relative share of enterprises, %), August 2011 30
- Construction output in Bulgaria (BGN m and nominal change), 2007-2013 34
- Investments in the republican road network in Bulgaria by type of work (BGN m), 2001-2013 39
- Existing and planned motorways in Bulgaria, 2011 40
- Railway infrastructure projects in Bulgaria, 2007-2013 46
- Map of major airports in Bulgaria, 2011 47
- Civil engineering construction output in Bulgaria (BGN m and nominal change), 2007-2013 51
- Structure of non-residential construction market in Bulgaria (%), 2010 54
- Total stock and pipeline supply of office space in Sofia (m2), Q4 2007-Q1 2011 58
- New completions of office space in Sofia (m2), Q1 2008-Q2 2011 59
- Non-residential construction output in Bulgaria (BGN m and nominal change), 2007-2013 63
- Residential buildings completed in major Bulgarian cities, Q1 2009-Q2 2011 68
- Homes for which building permits were issued in Bulgaria (‘000), 2005-2011 69
- Residential building permits issued in Bulgaria by major cities, 2008-H1 2011 69
- Price changes for apartments in Bulgaria, by major cities (%, y-o-y), Q1 2011 72
- Residential construction output in Bulgaria (BGN m and nominal change), 2007-2013 74
- Homes completed in Bulgaria (‘000 and y-o-y change), 2004-2013 75
List of tables
- Forecasts for the main economic indicators in Bulgaria for 2011-2013 10
- Forecasts for the main economic indicators in Bulgaria for 2011-2013 21
- Number of construction companies in Bulgaria, 2008-2009 26
- Prices of construction materials in Bulgaria (€), H1 2011 31
- Indices for the turnover in transport in Bulgaria, Q1 2009-Q2 2011 35
- Type of ownership of water and sewage operators in Bulgaria, 2011 36
- Major environmental protection projects in Bulgaria, 2011-2015 38
- Republican road network in Bulgaria (km), 2011 38
- Major road projects in Bulgaria, 2011 42
- Major railway construction projects in Bulgaria, 2014-2020 45
- The largest industrial and warehouse projects planned in Bulgaria, 2011-2014 56
- Retail and service buildings planned and under construction in Bulgaria, 2011-2013 57
- Largest office construction projects planned in Bulgaria, 2010-2014 60
- Largest hotel construction projects planned in Bulgaria, 2011-2014 61
- Housing stock in Bulgaria, 2010 66
- Largest satellite village projects countrywide with controlled access in Bulgaria, 2011-2015 71
- Basic indicators for the mortgage market in Bulgaria, 2007-2010 72
- Distribution of mortgage loans in Bulgaria, by age groups, 2007-2010 73
- Share of mortgage in financing of residential property in Bulgaria, 2007-2010 73
- Key financial data for Geotechmin Group, 2005-2010 77
- Key financial data for Trace Group Holding AD, 2005-2010 79
- Key financial data for Enemona, 2005-2010 79
- Key financial data for GBS Infrastrukturno Stroitelstvo AD, 2005-2010 80
- Key financial data for Glavbolgarstroy AD, 2005-2010 81
- Key financial data for Balkanstroy, 2005-2010 82
- Key financial data for Terna AD, 2005-2010 83
- Key financial data for Planex, 2005-2010 83
- Key financial data for Hydrostroy Varna, 2005-2010 84
- Key financial data for CP Holding, 2005-2010 85
Construction sector in Bulgaria 2011
Development forecasts for 2011-2013
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