The Challenge
Address Group is the largest real estate player in Bulgaria. In recent years foreign investors have expressed a sharply increasing interest in Bulgarian properties. Address Group was looking of ways to boost the performance of its daughter company specialised in the sales of Bulgarian leisure properties to foreign investors - Address Worldwide.
The Approach
Forem Consulting conducted a thorough analysis of the Bulgarian real estate market, Address Group’s positioning and business model for sale of Bulgarian properties to foreigners. Our team analysed the trends in demand, the larger part being Brits. Forem Consulting researched best practices by looking at the leading real estate agents and developers worldwide, with a particular emphasis on the UK and Spain. Key success factors in the sales of properties to foreign clients were identified.
The Recommendations
Forem Consulting presented to Address Group a new business model that fully incorporates global best practices, is custom made to meet the Group’s goals and is fully feasible with specifics of the Bulgarian real estate market. The new business model is also fully in line with the Group’s organisational capabilities and its strategy for rapid expansion. Along with the new business model, Forem Consulting provided Address Group with an implementation plan outlining the necessary steps towards success.
The Results
Address Group is in the process of implementing the new business model suggested by Forem Consulting. The Group already enjoys a better, more professional and efficient position on the market – a statement supported by the newly founded cooperation between Address Group and one of the top three real estate companies in the UK.
In Our Client’s Own Words
“Forem Consulting maintains a constant high level of professionalism and correctness in all dealings. As a result of their work, I feel confident that we are much better equipped to gain an ever increasing market share and in the same time react swiftly and efficiently to fluctuations in the industry”
Christo Iliev, Address Group CEO
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