Sat, May 26 2012
Photo: Assen Tonev
The largest shopping mall in Bulgaria is ready for business after two years of construction
Builders have met all municipal requirements and will also pay to renovate parks.
The mall's builders have started using a nearby street as a construction site without the proper permit
Top-quality offices on major thoroughfares in Sofia are rented for 14 to 15 euro a sq m, or the same as rentals in the two landmark schemes, Serdika Offices and European Retail Centre, due to open in 2010, Colliers office space manager Anton Slavchev said.
With a 220 million euro investment, and a radical marketing strategy, Serdika Centre's general manager Atanas Radev aims to change the landscape of shopping malls in the country.
Sparkassen Immobilien, the real estate arm of Austria's Erste Bank, plans to invest up to 300 million euro in Bulgaria over the next two to three years, Friedrich Wahernig, member of Sparkassen Immobilien board of directors said on June 11. Its focus in the medium-term would be office and retail space. Additionally, Sparkassen Immobilien has remained keen on financing real estate projects in the region, Wahernig said. The company plans to divest of real estate investments in Western Europe and invest in Eastern Europe, Bulgaria included.
Worst is over for Bulgaria's property market after three years of decline, reports by Yavlena and Bulgarian Properties real estate firms claim.
Draft law envisages professional association for real estate agents and a public register of real estate companies to bring order to the business and get rid of rogues and rip-off artists.
Landmark Centre Varna’s financial reports show its largest debt is an investment loan of 6.9 million euro issued by Eurobank EFG Bulgaria in mid-2008 and secured with a mortgage.
Average market prices of homes in Sofia fell by one per cent in the fourth quarter of 2011 compared to the same period of 2010, according to the Raiffeisen Real Estate Index, as quoted by Klasa daily.
Proportionately, the number of transactions in leva increased as people reacted to speculation that the euro would disappear.
Do you know will there be a cinema in the mall?
Why not build few more malls? Sofia could do with a few more, spread the people and have empty malls since people get less and less to spend!
zara?
Overpriced cheaply made clothes
Reek and Cloppenberg?
I know a Peek and Cloppenburg, check http://www.peek-cloppenburg.com/fileadmin/cs/
Finally! Zara will fully be in Sofia! Love this store.