---
title: "Sotheby's International Realty Opens Its First Office in Bulgaria"
url: https://burnaze.com/article/1f90b3c4-6b12-49b3-bb8a-d8ab25e8fec4
source: "Franchising.com"
original_url: https://www.franchising.com/articles/sothebys_international_realty_opens_its_first_office_in_bulgaria.html
author: "Eddy Goldberg"
category: "Real estate"
industry: "Business Services"
segment: "Real estate"
topics: ["Development & multi-unit"]
published: 2021-10-22T09:00:00.000Z
modified: 2026-11-01T02:12:39.639Z
image: https://imgs.franchising.com/art/articles/6326_plate.jpg
---

# Sotheby's International Realty Opens Its First Office in Bulgaria

**TL;DR:** Sotheby's International Realty has opened its first office in Bulgaria, marking the brand's continued growth in Europe. The office, Bulgaria Sotheby's International Realty, is owned and operated by Hristo Angelkov and Andrei Manoukovski.

*By Eddy Goldberg, originally published in Franchising.com on 2021-10-22. [Read the original](https://www.franchising.com/articles/sothebys_international_realty_opens_its_first_office_in_bulgaria.html).*

## Story

Sotheby’s International Realty announced that Iris Estates has joined its network and will operate as Bulgaria Sotheby’s International Realty. The addition marks the brand’s continued growth in Europe. The brand has nearly 200 affiliated offices in the EMEIA (Europe, Middle East, India, and Africa) region.

Bulgaria Sotheby’s International Realty is owned and operated by Hristo Angelkov in partnership with Andrei Manoukovski. The team brings more than 50 years of combined experience to the company, which is headquartered in the city of Sofia. The company will have two offices and will serve the entire country.

“Bulgaria is an emerging market and is an attractive destination for residential developments, making it appealing for global investors,” said Philip White, president and CEO of Sotheby’s International Realty. “The country is seeing positive momentum, offers attractive prices, and is situated between major cities in Europe, Asia, and Africa. The luxury segment is well-positioned in the market.”

“As a leader in luxury residential real estate in Bulgaria, it was only natural for us to align with a brand like Sotheby’s International Realty,” said Angelkov. “From the beginning, our company focused on luxury and residential real estate and provided high-quality services to expats and diplomats. We expect to receive increased interest from other Western European countries and the Middle East from both investors and individuals alike.”

Manoukovski also owns Moscow Sotheby’s International Realty, which serves Russia, Cyprus, Kazakhstan, Hungary, and Slovenia, and has been operating for more than 10 years. Sotheby’s International Realty network has more than 24,000 affiliated independent sales associates in approximately 1,000 offices in 75 countries and territories worldwide. Each office is independently owned and operated.

## Entities

- Franchising.com (publication)
- location expansion (topic)
- Business Services (sector)
- Eddy Goldberg (person)
- real estate market (topic)
- european growth (topic)
- Bulgaria (location)
- luxury segment (topic)

---
Originally reported by Eddy Goldberg, Franchising.com (https://www.franchising.com/articles/sothebys_international_realty_opens_its_first_office_in_bulgaria.html). Summarized by Burnaze (https://burnaze.com/article/1f90b3c4-6b12-49b3-bb8a-d8ab25e8fec4).