Named in honor of Tsar Boris III’s youngest sister, Nadezhda was once a sleepy little place with a few houses set against fertile fields. More and more people trickled into the area until it became a municipality in 1934, and today its nine neighbourhoods are home to over 77,000 people. Residences consist mainly of apartments in low-rise buildings.

Nadezhda has manufacturing plants producing machinery, electronics, chemicals, pharmaceuticals, and furniture. It also has two churches and a monastery.