|
Post by radovic on Nov 21, 2007 13:43:00 GMT -5
Plaza Centers buys retail development project in Bulgaria
EMonline
The company is currently developing five sites in Romania and two in Serbia
Plaza Centers, an emerging markets property developer, has made its first investment in Bulgaria through the acquisition of a retail development project in Shumen, news agency Dow Jones reported on Tuesday, November 20.
The development budget for the new shopping and entertainment center is estimated to be 38 mln euro.
Shumen, the largest city in Shumen County, is situated in the north-east of Bulgaria, 80 km from Varna. It has a population of over 100,000 and is located within a larger catchment area of 205,000 people.
The development, which occupies a plot of 17,000 sq m, will comprise 18,000 sq m of lettable retail space, and 20,000 sq m of parking, providing 600 spaces, said Dow Jones.
The company anticipates that the project will be completed by late 2009.
This first investment in Bulgaria strengthens Plaza's position in South-East Europe, following its recent acquisitions in Romania and Serbia..(Dnevnik)
|
|