Xarxa Real Estate Starts Doing Business In Bulgaria

XarXa Real Estate, a Spanish company specialising in property sales and investments, arrived on the Bulgarian scene. Its motto is “Let's turn our competitors into our partners”, Petar Atanassov, executive director for the Bulgarian branch of the company, said during a news conference July 3.

XarXa means “fishnet” and it has been established in Barcelona, Spain in 1994. It is a part of Gestion Immuebles Compartidos, a world network of 80 companies based in Spain and other European countries.

Except providing services in property sales, XarXa Real Estate works with group of investors, interested in residential developments, logistics as well as other sectors, Atanasov said.
“This is a real step in the direction of practical Euro-integration,” he said. “We are here to help to advance Bulgaria, to serve Bulgarian society,” he said.

Francisco Morán, XarXa CEO, said that the decision to enter the Bulgarian real estate market was based on a three-year thorough investigation how the industry here was progressing. Now the company is opening two offices in Sofia, Moran said and added, “We are not here only to undertake one financial operation, we are here to stay.”

The company's executives did not want to further elaborate on neither what kind of investments had been planned and started, nor in which Bulgarian cities. The projects would be gradually revealed, they said, but at this stage is better to keep them unannounced.