The large scale Grand Mall Varna project saw the turning of the first sod ceremony. Varna's mayor Kiril Yordanov, Borislav Gutsanov, head of Varna's Municipal Council and Ofer Miretzki, Orchid Developments' CEO were among the attendees.

The investors from Orchid Developments built a time capsule in the mixed-use complex containing today's newspapers, Varna's map and a message for future generations.

Orchid Developments aim to turn Grand Mall Varna into the largest retail and entertainment centre in the coastal city.

There are at least 10 construction projects for shopping malls in the city of Varna, which has a population of about 400 000.

Investment in this project is more than 100 million euro. The retail complex will have a gross actual area of 200 000 sq m. Leasable area is 50 000 sq m. One third of it has already been occupied. Carrefour, Arena Cinema, Technomarket and Orange retail chains are among the tenants.

The project provides for the construction of three office towers of 75m high.

Grand Mall Varna's design was implemented by Moore-Yasky-Sivan Architects and the local studio LAGIS Ltd.