Construction of 'Sofia Ring Mall' Set to Kick Off in Bulgaria's Capital
The construction of Sofia Ring Mall, a new shopping mall project in the Bulgarian capital Sofia, is set to start within a few days, Colliers International, the leasing consultant of the project, announced.
Sofia Ring Mall has selected Glavbolgarstroy and Arcon Constructions as the main construction companies for the project. The contract was signed last Friday, September 2, 2011, Colliers said in its announcement Thursday.
The selected companies will be involved in phase one, being responsible for the excavations, concrete works and rough construction of the project. These will have to be finalized within a period of 12 months. Sofia Ring Mall will hold a second tender for the selection of a company for the finishing works, Colliers explained.
Sofia Ring Mall will be situated on the newly extended southern curve of the Sofia beltway, or ring road.
It will be directly connected with IKEA's first hypermarket in Bulgaria through a pedestrian connection and a common underground parking facility. The combined parking will provide more than 3 500 parking places, accessed by the clients from the ring road.
Delivery circulation and courtyards are designed independently of visitor's traffic. The opening of Sofia Ring Mall is planned for 2013.
Sofia Ring Mall will be one of the biggest shopping centers in Bulgaria with a gross leasable area (GLA) of approximately 70 000 square meters.
The Sofia Ring Mall project has been frozen for several years. It will be part of a larger commercial and residential project. It will include a hypermarket with an area of 9000 square meters, a DIY store and a cinema.
The investor in the project is Sofia Ring Mall Sofia EAD, a subsidiary of the Greek company Danaos Development.
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Another Mall? Madness. Every Mall in Bulgaria is unprofitable. Every Mall in Bulgaria is
for sale, if only to roll over the defaulting debt to bank creditors, as most recent
transactions have been about, in case you hadn't noticed.
Anyone venturing to build a mall in Bulgaria should be taken for immediate psychiatric
Planners doing their comparative equations on the number of retail square meters per
capita have forgotten to factor in the fact that nobody has any money to buy anything.