FM newsroom – Bulgaria, commercial facilities, investment. Under the joint venture, Mitiska REIM and Park Lane plan to develop and open at least five prime retail parks in Bulgaria over the next five years. The JV has already acquired its first land plot in the Hadzhi Dimitar district of Sofia to develop a retail park scheduled to open by the end of next year.
Mitiska REIM has announced on behalf of the Merep 3 fund a joint venture partnership with Park Lane Developments to develop retail parks in Bulgaria, Eurobuild CEE reports.
Meeting elevated demands
The new development is located on a main road close to the city centre and residential areas and will feature more than 20 retail units. The tenant mix will comprise a range of national and international brands offering clothing, shoes, home goods, and services such as pharmacies and a food court.
„The Bulgarian market offers significant opportunities in the retail park sector – shoppers’ disposable income is rising, consumer spending is increasing, and retailers are looking for modern and sustainable retail space to meet this demand. We look forward to working in partnership with the Park Lane team to capitalize on this opportunity.” – Tomas Cifra, Mitiska REIM’s managing director for Romania, Czech Republic, Slovakia & Bulgaria
Designed for excellence
The Hadzhi Dimitar project is being designed by Planning Architectural Studio, led by architect Iliyan Iliev, and constructed by MMV Engineering. The retail park will be designed to achieve an „Excellent” score on the BREEAM scale and will feature landscaped parking areas, charging stations for electric vehicles and bicycle racks.
image: eurobildcee.com
