Slovenias largest food retailer Mercator will rent space for a hypermarket in the Mega Mall in Sofia, currently under construction, deal consultant Raiffeisen Imoti, the real estate arm fullyowned Raiffeisenbanks Bulgarian subsidiary, said on November 17, as quoted by Dnevnik daily.Mega Mall is developed by Austrias Real4YOU Immobilien. Its leasable area will be 24 000 sq m, split between more than 100 shops. The area earmarked for the hypermarket is 3054 sq m.
Archive for November, 2008
Slovenias Mercator to rent space in Sofias Mega Mall
Sunday, November 16th, 2008Orchid Developments sells Zlatni Pyassutsi hotel for 9.9M euro
Sunday, November 16th, 2008Orchid Developments, an international property developer focusing on Bulgaria, said on November 17 that it sold Yavor hotel in the Black Sea resort of Zlatni Pyassutsi for 9.9 million euro.The developer had said in September in its interim results that it expected the sale of Yavor Zlatni AD, the subsidiary company taht owns the hotel, to complete in October 2008.
House prices in Rousse down by 10 report
Sunday, November 16th, 2008House prices in Bulgarias Danubian city of Rousse have fallen by 10 per cent, and will continue to fall, Bulgarian National Television BNT quoted the head of the citys construction chamber, Georgi Stoev, as saying on November 16 2008.
Agricultural land another can of worms
Sunday, November 16th, 2008Agrarian reform in Bulgaria is going in the wrong direction. But if the corporative model of working the land were implemented, then agricultural business could attract more foreign investment and boost the countrys economy in the wake of the weakened tourism and construction sectors. This was the rough conclusion of a conference entitled Investments in Agricultural Lands 2008 New Mechanisms for Comassation, organised by Elana financial group and Dnevnik daily on November 12 2008.
Albena says may halve bed capacity for summer 2009
Thursday, November 13th, 2008Resort operator Albena, which owns the hotels, retail outlets and infrastructure in the Black Sea resort of the same name, may keep half of the rooms locked next summer to avoid operating them at a loss, Albena executive director Krassimir Stanev said.
BulgarianIsraeli tiein to build congress hall in Veliko Turnovo
Tuesday, November 11th, 2008Bulgarian company CBA Property Investment, the real estate division of discount retailer CBA Bulgaria, has teamed up with an unnamed Israeli investor to raise a fivestar congress centre and a shopping mall in Veliko Turnovo.The news was announced during Israeli ambassador Noah Gal Gendlers visit to the town in central Bulgaria. Veliko Tarnovo offers investment opportunities in construction, transport, tourism and trade, Gendler said.
Home loans almost halve over three months
Monday, November 10th, 2008Bulgarias new home mortgages dropped almost in half in JulySeptember, compared to the previous quarter, central bank statistics show. Banks gave 6406 new loans worth 620 million leva from July to September, compared to 12 165 worth 761.7 million leva for the three months before that.Lenders have put lending plans on the back burner and are cutting down in all segments amid brisk consumer demand and growing appetite for cash, bankers have said.
30M euro openair mall planned for Bourgas
Sunday, November 9th, 2008Developer ZBS plans to begin construction on the first openair mall in Bulgaria in March 2009, website investor.bg reported on November 10. The investment in the new shopping centre is estimated at 30 million euro.The Strand mall would be built on a six ha plot near the highway to Sofia, next to a Baumax hypermarket, currently under construction. The openareas will be built like pedestrian streets and will be covered in bad weather.
Home lending shrinks faster than corporate loans in JulySeptember
Sunday, November 9th, 2008Bulgarian banks gave 9259 new corporate loans in JulySeptember, compared to 9724 in the previous quarter, data from the central bank has showed. Over the same period, households borrowed 103 332 times, down from 121 208 over the previous three months.
Property market adjusting to dropping prices
Sunday, November 9th, 2008As the global financial turmoil tore down enduring myths about the global economy, Bulgarias domesticallylisted real estate investment trusts REITs have started losing their appeal as safe havens.