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Forton Int'l of Address Group - the First Commercial Real Estate Company in BG

May 11, 2005
Forton Int'l of Address Group - the First Commercial Real Estate Company in BG

Address Group signed an association contract with Cushman & Wakefield Healey & Baker.

The official ceremony was addressed by Mr. Nikolay Vassilev, Deputy Prime Minister and Minister of Transport and Communications of Republic of Bulgaria.
The official launch of Forton International, the newest Address Group Company was on 11 May in Sofia. Forton is the first real estate company dealing mainly in the commercial segment and is associated with Cushman & Wakefield Healey & Baker.

The partnership contract was signed by Mr. Eric Van Leuven, Managing Partner, Cushman & Wakefield and Mr. Christo Iliev, Chairman Board of Directors, Address Group. The event was widely covered by the media.

"Following the strategy all companies of Address Group to be market leaders in all segments of the real estate market, and based on a profound analysis of the trends, we came to a conclusion the commercial segment is our next challenge," said Christo Iliev and stressed on the remarkable efforts it takes to identify strategic partnerships. "We knew that if our goal was to become a long term market leader, the only successful way was to be a strategic partner of a leading company in this segment. The official signing of the contract today is a result of long years of hard work in that direction. I wouldn't conceal we negotiated for many months with the most reputable companies. It cost

us a lot effort to convince the major players that the Balkans and Bulgaria in particular are a growing and profitable market."

According to Mr. Eric van Leuven, Managing Partner, Cushman & Wakefield Healey & Baker, in the eve of Bulgaria's forthcoming European Union accession, it is expected that more international companies start eyeing commercial properties in Bulgaria. The demand for high class office space will increase, especially when it comes to places with impeccable design, excellent facilities, prime location and well-developed infrastructure. Cushman & Wakefield key accounts have already voiced theis interest, which is a clear signal that

Bulgaria is going in the right economic direction. According to some of the Cushman & Wakefield top clients, investors in Bulgaria could benefit from Hungary's and the Czech Republic's best practices in this field.

Forton International is the 18th associate of Cushman & Wakefield Healey & Baker in Europe, Africa and the Middle East (EAME). The company operates 22 offices in 14 European countries. Cushman & Wakefield was the first commercial properties advisor to set up offices in Central & Eastern Europe - in Budapest, Prague and Warsaw in 1995. In January 2005 C&W/H&B started operations in Moscow, while in Romania, Slovakia and Croatia,

Cushman & Wakefield is associated with local companies.

At first, Forton International will be actively involved in some of the major towns of Bulgaria - Sofia, Varna, Bourgas, Plovdiv, Pleven and Blagoevgrad.

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