TriGranit Management Corporation wins new scheme in the capital of Bulgaria (BG)

TriGranit Management Corporation (TGM) is proud to announce that it has won the full Property Management mandate for South Sofia Ring Mall, following a tough tender process against determined opposition.

As the team leading the critical path to opening, TGM yet again demonstrates the strength and depth of its experience. With some of the most commercially viable schemes under management across CEE, even in a challenging market, TriGranit Management Corporation was chosen for its commercial expertise and strong relationship management qualities.

With a winning combination of retail and leisure, this 69,000 m² (GLA) mall is a next generation scheme that will redefine the retail makeup of Sofia. Located next to and with direct links with the only IKEA-store in Bulgaria, the strength of the location cannot be disputed.

The Malinova Dolina district where South Sofia Ring Mall is being developed is an up-and-coming area where many of the cities expatriate communities live. A number of surrounding developments include high-end residential, office, and leisure buildings. With a new ecological community park being built next to the scheme, the location offers opportunities for all tastes.

Built to the highest international standards on 172,000 m² (GBA), to meet and exceed both retailer and customer expectation, the owners are investing over €120 million in South Sofia Ring Mall, located on Sofia's newly extended Ring Road, providing fast and comfortable connection to and from all areas of the city.

The immediate catchment area where the project is situated is the greenest neighborhood in Sofia and the city's "dream place to live", as well as the fastest expansion area of affluent business and residential neighborhoods with a high population growth. It is becoming a part of a growing, up-market suburb in the south of Sofia, providing an entertainment and leisure concept that extends beyond its walls to green areas, recreation parks, and amazing views towards the city and Vitosha Mountain.

Neighboring to the ski-lifts of Vitosha Mountain, Sofia Ring Mall is the second phase of a unique project that includes the already operating IKEA, with an additional mixed used development of 54,000 m² (GLA) and further followed by a residential development of 500 houses. Distributed over three retail levels, Sofia Ring Mall will feature a tenant mix of over 200 shops.

The mix includes various fashion and sports stores, wellness facilities, an 11-screen cinema multiplex, and spacious and diverse outdoor and indoor food courts. More than 39,000 m² (GLA) are dedicated to anchor tenants such as supermarket, DIY store, furniture store, cinema, and home electronics store; additionally around 30,000 m² (GLA) to fashion brands. With over 3,500 easy to-access car-parking spaces and dedicated parent and baby bays, the whole scheme is being designed to deliver high levels of customer service.

The combination of IKEA with the development of Ring Mall is expected to create the largest market of furniture and home decoration in Bulgaria with over 50,000 m² focus to this segment.

Philip Evans, the CEO of TriGranit Management Corporation, underlined: We are pleased that Sofia Ring Mall has chosen TGM as their partner for providing pre-opening property, facility management, and marketing services. As a result of our entering and successful operation on this new territory, TGM will be able to contribute to the country’s economic performance.

The proper management raises property values, creates more jobs, and provides additional services to the local community. Working on the successful opening of Sofia Ring Mall, we are committed to sharing our proven expertise, to introduce our long-term partners, and raise the property management standards in Sofia. On the back of our recent entry into the FYROM, this underlines TGM’s strength and our importance as a significant player in the CEE market.

Source: TriGranit Management

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