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Cinema City sells two mall projects in Bulgaria for 85 million euro

Tue, Mar 09 2010 08:40 CET

byDnevnik.bg

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Cinema City sells two mall projects in Bulgaria for 85 million euro

An artist's impression of the Mall of Rousse.

Photo: Economedia

Cinema city, a cinema chain that has a real estate business in Bulgaria, has signed a contract to sell two mall projects to Israeli Ιsrael Theaters.

The deal is valued at 85 million euro and covers the Маll of Rousse and Mall of Stara Zagora projects. According to the seller's preliminary plans, it should be completed this year.

Cinema city will get 70 million euro when the deal is closed and the remaining 15 million euro will be paid nine months after the opening of Маll of Rousse but no later than eighteen months.

Both projects were announced two years ago. The construction of the Маll of Rousse is at an advanced stage while the one in Stara Zagora is still on the drawing board. Combined the malls cover 112 000 square metres, of which commercial surface takes 58 000 square metres.

Source: Dnevnik.bg

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