Bojidar Pampulov, manager of ImmoBan: “The success comes when you do the things with a lot of love and patience”
Bojidar Pampulov is 37-years old, married with one child and is expecting the second one. He has graduated at International Economic Relations at the University of National and World Economy – Sofia. He has a command of German, Spanish and English. A former tennis player, having devoted over 25 years to this sport. He is proud to say that his family has left a lasting trace in the professional tennis and have made Bulgaria popular throughout the world via this sport. Today Mr. Pampulov is the manager of the company ImmoBan. He love to spend his spare time with his family, listening nice music and watching attractive football matches.
Mr. Pampulov, how did you start in the real estate sector in Bulgaria?
I am one of the few Bulgarians of my generations who successfully made their professional way up in the countries of the Old Continent but nevertheless came back to the mother land to work and to make career and to develop image here.
I got into the real estate and construction sector a bit occasionally. In 2001 I was running a small family company importing Spanish furniture and I was looking for the cooperation of Spanish investors operating in the same field. This way I met Ernest Soler, the man that is currently my major partner in ImmoBan. The talks with him and the observations of the market convinced me that the real estate sphere in Bulgaria was a perspective one. And so we started. We were one of the first Bulgarian-Spanish ventures operating on this segment. Now I can say that ImmoBan has a sound base, built stone by stone for six years, and this allows us to be optimistic about the near and distant future.
Tell us more about the ImmoBan’s business?
As I already said ImmoBan is a Bulgarian-Spanish venture having to offices in Sofia, and one in Sofia, and Barcelona. The big Spain’s interest in Bulgaria provoked the opening of offices in Valencia and Madrid. The company deals in ivestments management, mainly in real estates. We invest in completed products – newly built apartments, offices and commercial premises or in terrain’s management and development. Slowly and cautiously ImmoBan is looking for its development only aimed at always being professional in all we do. At the risk of missing the maximum of all the stuff, we try to bring to the end everything we start, as the good reputation is something very important. And it is built by the contented clients. We work following the dictum of going further, but not compensating the quality. We work obeying the professional business rules.
Where are the Bulgarian investments of ImmoBan?
I don’t think that there is anyone to give the precise formula of the successful investment. We look for our clients the most secured investments, to be profitable at least 10-15 years. Concerning this we invest in certain areas in Sofia and on the Black Sea coast. In 2008 our construction will aggregate to about 200 thousand sq. m of a total built-up area.
Who are your clients?
About 70% of new construction buyers in Bulgaria are Bulgarians both living in the country and abroad. Our foreign clients are mainly strategic ones. They buy more real estates to rent them in the oncoming years and to re-sell them later and to squeeze the maximum of an asset such as to say the newly built apartment.
In November ImmoBan was one of the few Bulgarian companies with own stand at the Meeting Point exhibition in Barcelona. I think that the clients consider the country not as something exotic but as a strategic investments point. A proof of this is the large number of Spanish guests we keep on welcoming now in our Sofia office, a couple of weeks after the exhibition. We are glad that there are Spaniards never been in Bulgaria before, but they do trust us thanks to the good reputation we have.
What are the main problems to the Bulgarian real estate market?
I think that the biggest problem is the elemental nature. The elemental nature both of the investors and the buyers which also have to walk their way, to have increased requirements and thus to regulate the market. Right now the real estate demand in the country is very high. According to me this process will last a few more years, afterwards I expect certain slow down, but as a while the Bulgarian real estate market will develop upwards. Bulgaria is unique country situated on a key place and I think it will always raise the investors’ interest.
What are the biggest challenges you face as a manager?
The major challenge is to make a decision in less than a minute being aware of all the risk that all eyes are on you and you could go wrong just as you could go right. Here I do always make an analogy to the tennis – the balls is coming to you and it is not just that you have to hit it and get it across the net, but also you have to control it, to direct it to the right place. Probably it sounds banal, but I believe that the success comes when you do the things with a lot of love and patience and professionalism of course.