The European Bank for Reconstruction and Development (EBRD) in partnership with the company Park Lane Developments and the Belgian fund Mythic REIM will invest significant funds in projects for the construction of 10 retail parks across the country.
Work is already underway on two of them. One is on an area of over 13 acres in the area of the capital's "Nadezhda" district. A "Fantastico" store will be located on 30% of the park, which will be built on its own land.
The second retail park, which is being intensively built, is in the "Hadzhi Dimitar" district. It will cover an area of 14 acres, and the key tenant will be the Lidl chain.
The remaining projects are also based on the principle of a large food chain, with a different type of retailers, free parking and located in densely populated urban areas with communicative access.
After shopping centers have largely exhausted their capacity and managed to relocate retailers from the main shopping streets to themselves, now the rise of retail parks has begun. In 2024 alone, 81,000 sq m of retail space of this format was put into operation. This year, a growth of 25% is expected, according to the forecasts of the consulting company Cushman & Wakefield Forton.
Undoubtedly, the interest in retail parks is more attractive than in malls, since the investment is smaller and the business effect is even better.
Detailed statistics on the average property prices in Bulgaria by cities and neighborhoods can be seen HERE