EUR 120 M 'Sofia Ring Mall' to Be Completed July 2013
The future Sofia Ring Mall – which is to become Bulgaria's largest retail and entertainment destination together with the closely located store of IKEA Bulgaria – is to be completed by July 2013.
The EUR 120 M shopping center will provide to its customers views towards the city and Vitosha Mountain and a lot of green areas.
This has been announced at a news conference in the Bulgarian capital Tuesday featuring represenatives of the two Greek investors Fourlis Group and Danaos Group as well as the project consultants Colliers International.
They have pointed out that the expansion of Sofia ring road, which is scheduled for the fall of 2012, will provide safe and easy access for the some 1.5 million residents of Sofia.
Sofia Ring Mall is scheduled to be completed by July 2013 and its opening is planned for the fall 2013.
It will feature a tenant mix of over 200 stores, including fashion and sport stores, entertainment facilities, a 10-screen cinema multiplex. More than 25 000 sq meters of gross leasable area are slated to anchor tenants and more than 20 000 sq meters to fashion brands. In total Sofia Ring Mall will have 69 000 square meters of gross leasable area, and 172 000 square meters of gross building area on 3 retail floors.
One of the biggest advantages of Sofia Ring Mall is that it's a unique cluster of "big box" operators working in synergy with a classical "shopping mall" mix, making it and all-in-one offer catering all needs of visitors, the investors say.
The total investment of the project, including the land and the infrastructure which involves green spaces and assisting roads on the side, is exceeding 120 million EUR.
Some of the tenants that have already made contracts for retail space at the Sofia Ring Mall include Piccadilly; Yavor Furniture; Mr.Bricolage; Cine'Grand; Technomarket; Public.
During the presentation of the project Liberis Moschovitis, General Manager of Sofia Ring Mall, highlighted the regional character of the development and the new experience that will be offered to the visitors.
He noted that "the new retail destination in Sofia has been created to provide the important tenants mix, especially with the combination with IKEA making it a new retail destination in the country."
"One of the strategic advantages of Sofia Ring Mall is its strategic location, convenient and easy access. Moreover, the successful concept "all under one roof" makes the classic shopping in the city very special experience among the big open spaces, a lot of green area and entertainment places", said Iglika Yordanova, manager "Commercial area" in Colliers International.
Sofia South Ring Mall EAD, a joint stock company owned by two major investors Fourlis Group & Danaos Group, is a company, active in the investment, lease and management of the commercial center Sofia Ring Mall.
- » The Villages Around the Resorts in Bulgaria Attract with Cheap Properties
- » 42,000 Buildings in Bulgaria Need Renovation
- » The Price of Agricultural Land in Bulgaria has Risen by 5%
- » The Luxury Property Market in Bulgaria
- » Plovdiv, Burgas and Varna with most Residential Buildings put into Operation
- » The Rents of Premium Offices in Sofia are Growing