Bulgaria’s Economic Ascent and Sofia Airport’s Transformation
Bulgaria, a small European Union nation, is experiencing robust economic growth, outpacing the EU average. This positive trajectory is projected to continue in the coming years. A key contributor to this growth is the aviation sector, with Sofia International Airport (SOF), the country’s main airport, undergoing a significant transformation. SOF is set to expand and modernize with the construction of a brand new terminal, T3, which will be integrated with the existing T2. This ambitious project aims to elevate SOF’s status to a premier regional hub, boosting the Bulgarian economy and attracting more tourists.
Central to this upgrade is a substantial increase in retail and food and beverage (F&B) offerings. The current commercial space of 43,000 square feet will be more than doubled to approximately 107,600 square feet. This expansion reflects the airport operator, SOF Connect’s, recognition of the growing importance of non-aeronautical revenue streams and the desire to enhance the passenger experience. The refurbishment of T2 will occur concurrently with the construction of T3, ensuring a seamless transition and continuous operation of the commercial areas. This strategy minimizes disruption and allows the airport to capitalize on existing passenger traffic while the new terminal is being built.
The retail landscape at SOF has already begun to evolve. Avolta, a Swiss travel retailer, secured an eight-and-a-half-year concession to operate 13 stores in T2, comprising 11 duty-free and two duty-paid shops. Avolta’s presence at SOF, along with its operations at Bulgaria’s Burgas and Varna airports, solidifies its position in the Bulgarian airport retail market. Furthermore, SSP, a leading F&B operator, will make its debut in Bulgaria, developing a modern food court in SOF, featuring well-known international brands like Starbucks, Burger King, and TGI Fridays, alongside SSP’s own proprietary brands. This diverse F&B offering caters to a wide range of passenger preferences, enhancing the overall airport experience.
A key element of the retail expansion is the new Avolta duty-free shop in T2, which, at almost 19,000 square feet, is the largest in Bulgaria. Its strategic placement ensures that all departing passengers pass through the store, maximizing exposure and sales potential. Complementing this anchor store, specialty shops and boutiques are under development, further diversifying the retail mix and catering to the growing demand for high-end brands. This focus on luxury retail reflects SOF Connect’s understanding of the spending potential of certain passenger segments, particularly those traveling to destinations like Milan.
SOF Connect’s ambitious vision for SOF extends beyond simply expanding and modernizing the airport’s infrastructure. The company aims to elevate SOF to a 5-star regional hub, a prestigious designation currently held by only seven airports worldwide. This goal underscores SOF Connect’s commitment to delivering a world-class passenger experience and establishing SOF as a leading airport in the region. SOF Connect, whose main shareholder is infrastructure investor Meridiam, operates SOF under a 35-year contract and has a track record of successful airport management globally, including LaGuardia Airport in New York and Queen Alia International Airport in Jordan. This experience and expertise position SOF Connect well to achieve its ambitious goals for SOF.
The expansion of SOF is a significant investment, totaling €624 million ($650 million) over the contract period. This substantial financial commitment underscores Meridiam’s confidence in the growth potential of the Bulgarian aviation market and the wider economy. The project is expected to generate significant economic benefits, including job creation, increased tourism, and enhanced connectivity. The support of government agencies further strengthens the project’s prospects for success. The construction of T3 and the accompanying retail expansion are key steps towards achieving SOF Connect’s vision of a modern, world-class airport that serves as a catalyst for economic growth and enhances Bulgaria’s international standing. The project has garnered widespread support, both within the aviation industry and from government officials, who recognize its strategic importance for the country’s future.
