THE MALL, the largest shopping center in Bulgaria with a GLA of 66,000 m², officially opened its doors on April 21st, announced Colliers International, the exclusive leasing agent and property management company of the project. The owner of THE MALL is Assos Capital - an independent real estate private equity company specializing in South-East Europe, focusing primarily on investments with a retail component, including downtown and out-of-town shopping centers, retail parks and high street shops. The value of the investment made for THE MALL has been estimated as approximately 200 million.
THE MALL is strategically situated on one of the key traffic arteries in Sofia, Tzarigradsko Shousse Boulevard. The new shopping center offers great variety of leading international and Bulgarian retail brands and numerous entertainment facilities, including a 10-screen cinema complex, restaurants, bowling, fitness, children's area, sports and gaming arcade.
According to Francis Whiting, Shopping Centre Manager at THE MALL, "Bulgaria will witness a new benchmark of retail and leisure opportunities. In a close cooperation between tenants and the management company THE MALL will set the standards for customer experience and service excellence by creating a welcoming and pleasant atmosphere."
Amongst the anchors of THE MALL is Europe's leading retailer Carrefour, which will open the first hypermarket in Sofia, as well as several retail brands that are new to the Bulgarian market.
"We are confident and extremely pleased to have secured a very strong tenancy mix for THE MALL, one that will secure its leadership position on the market," said David Davidov, Director Commercial Brokerage Services at Colliers International Bulgaria. According to him, although the market has been quite cautious during the past year and a half, these leases and the high occupancy rate of the shopping center are a clear indication of the confidence in the Bulgarian retail market and the project itself.
"The fact that the largest shopping mall in Bulgaria will be managed by a specialized property management company - Colliers International, is an indicator of a shift to maturing, and competitive market," commented Atanas S. Garov, Managing Director of Colliers International Bulgaria. "A professional management team gives security to the investors that they can expect a stable growth in the value of their real estate assets."
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