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Plans For Underground Parking Lot Construction In Sofia

Sofia municipality is planning to offer on concession the terrain below National Assembly Square.

The terrain would be used for the construction of an underground parking lot, reported. According to plan the plot would be given to a concessionaire for a 35-year period.

A two-level parking lot would be constructed. Its capacity would be 203 vehicles.

The potential investor would use own funds for the construction. The timeframe for completion of the construction works should not exceed two years. 

Preliminary financial analysis shows the concessionaire would have to invest at least six million leva in the project. Analysts said that through parking fees, the investor would be able to return the initial investment in three years.

A number of city councilors objected to the selected location. A parking lot could not be constructed right next to the entrance of the National Assembly, some of the objecting administrators said.

Municipality representative Nedyalko Nedyalkov said the terrain is the only one analysed and approved so far. Archaeologists said they lack information of valuable findings that are likely located in the area beneath the square.