Greeks Fourlis & Danaos plan to build entire new district near Sofia, Bulgaria!

A whole new district with a residential complex and a business project will be erected in the capital, next to the Sofia Ring Mall near Bulgaria's sole IKEA store.

Greek investors Fourlis and Danaos plan to invest EUR 70 M in a residential complex and a further EUR 50 M in a business project, both part of the EUR 300 M Sofia Ring Development.

Sofia Ring Development is scheduled to be fully completed in 2019.
Sofia Ring Mall, which is to become Bulgaria's largest retail and entertainment destination together with the closely located store of IKEA Bulgaria, will be the first building to be unveiled in the mega complex in about a year.
The shopping center will provide to its customers views towards the city and Vitosha Mountain and a lot of green areas.

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 GLA (gross leasable area), and 172 000 square meters of gross built 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.

Source courtesy of Novinite 

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'Bulgaria Mall' Near Completion Will Have A Debenhams!

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The latest of the Malls 'Bulgaria Mall' on Blvd.Bulgaria near to the Billa Metro stop opens soon and it will have a Debenhams Department store.  I think the British chain might have better luck than Marks & Spencer in Bulgaria as it will offer more stylish clothing and mid-upscale products.  Of course it will depend on how they chose to enter the market if a Franchise like M&S it might add to prices of items and therefore affect sales volumes and viability.  Check out the publicists link for more info:
Debenhams coming 1st Dec 2012

In the UK at least Debenhams offer men's clothing in large sizes with good choice of style and fashion, which for anyone over 6ft in BG is welcome news as the only other place to get jeans is M&S!

To rent offices with a service you can trust, in Bulgaria, contact the Dynamic Space property experts:

Website: www.dynamicspacebg.com

Mobile: +359 (0) 896670507 +359 (0) 897036030
Office/Fax: +359 (0) 2 953 01 16
e-mail: info@dynamicspacebg.com

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Bulgarian State Construction Company Privatized For BGN 51 M

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Bulgarian state construction company Technoexportstroy was privatized Wednesday against BGN 51 M given by Bulgarian firm AT Engineering 2000.
AT Engineering was the sole bidder in the privatization tender, and acquired 100% of the company's 103,970 shares.
This is the biggest yet privatization deal in Bulgaria for 2012, but came to be finalized only after the third try.
At the first listing of Technoexportstroy, Bulgaria's Privatization Agency had set a BGN 68 M minimum limit, dropping to BGN 60 M at the second, and then dropping off at the third.
The privatization contract obliges the buyer to keep the principal field of operation of the company unchanged for the next 3 years.
The buyer is also obliged to not initiate or support a liquidation or transformation of the company for the same period.
AT Engineering 2000 engages in construction and repair of industrial, administrative and residential buildings.
Its last major project involves taking part in building composting facilities at the future Sofia recycling plant, as a part of the Eggersmann & Co. consortium.
The company has received a significant drop of income from BGN 78 M in 2009 to BGN 16 M in 2011, which has resulted in some 120 employees being laid off.
Technoexportstroy's financial situation is not good either, with a small profit of BGN 119,000, but also uncovered losses of BGN 175 M, given a capital of BGN 82.6 M and blocked bank accounts.
The company is however known to own attractive real estate and facilities, as well as a network of units abroad.

Article courtesy of www.novinite.com 
Image courtesy of: http://www.freedigitalphotos.net image by 'Stuart Miles' 

To rent offices with a service you can trust, in Bulgaria, contact the Dynamic Space property experts:

Website: www.dynamicspacebg.com

Mobile: +359 (0) 896670507 +359 (0) 897036030
Office/Fax: +359 (0) 2 953 01 16
e-mail: info@dynamicspacebg.com

Office Address: Ul.Vladayska 42, Sofia, Bulgaria

Twitter: @dynamicspacebg