The registered construction companies in Bulgaria have reached nearly 7,500 for the first time. The largest share consists of small firms with up to 49 employees, totaling 6,527.

For the first time, the number of registered construction companies in the Central Professional Register maintained by the Bulgarian Chamber of Commerce (BCC) is approaching 7,500. As of September 9, 2024, there are 7,462 firms listed, of which 7,417 are Bulgarian and 45 are foreign. This data comes from the latest economic report on the sector released by the BCC.

“This is a clear sign that after several difficult years, the industry is mobilizing for the expected large volume of work,” says the chairman of the BCC’s Management Board, Eng. Ilian Terziev. “The increase in the companies registered with us began in the summer and continues into the fall. This year, 785 new firms have been registered with the BCC, 80% of which are newly established in the Commercial Register,” he adds.

“After a long stagnation, we now expect work on municipal programs, renovation projects, and other sites, primarily involving small and medium-sized firms, which are the backbone of the sector,” Eng. Terziev states further.

All companies engaged in construction over 100 square meters are required to register with the BCC. Without a certificate from the BCC, they cannot legally operate. As has always been the case, the largest share belongs to small firms with up to 49 employees, totaling 6,527. The report also states that there are 830 medium-sized construction firms with between 50 and 249 employees, while the remaining 60 firms are large, employing over 250 people.

According to the economic report, the total construction output in the first half of this year amounted to 10.2 billion BGN, representing a growth of 28.7% compared to the same period last year. During the first six months of this year, 6,068 building permits were issued for new structures, reflecting a 2.5% decrease compared to the same period in 2023. Construction of 4,326 new buildings began, marking a growth of 9.4%. A total of 2,065 newly built residential buildings were put into operation, indicating a decline of 21.6% compared to the same period in 2023.

In the first half of the year, 2,730 public procurement contracts were announced, totaling 5.7 billion BGN, which is an 18.2% increase in the number of contracts but a 25.4% decrease in their total value./Businessnovinite.bg