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European Bank for Reconstruction and Development finances 10 new retail parks in Bulgaria
11 february 2025
The European Bank for Reconstruction and Development (EBRD) is planning a major partnership with Bulgaria's Park Lane Developments, part of AG Capital, BalkanEngineer.com has learned from a press release from the company. The bank and Mitiska REIM, a Belgian investment fund, will invest EUR 50 million in the MEREP3 fund, which is aimed at developing retail space in Central and Eastern Europe, including Bulgaria, Poland, Romania, Slovakia and the Czech Republic.
The project plans to build 10 modern retail parks in Bulgaria. Two of them are already in active implementation phase. One is located in the Nadezhda district of Sofia and covers over 13 acres, with the main tenant being the Fantastico chain with its own large-scale store.
The other retail park will be erected in g.k. "Hadji Dimitar" in Sofia. With an area of 14 acres and a leading tenant - Lidl Bulgaria, construction is expected to start in the first quarter of 2025.
The remaining eight sites will follow the successful model: a flagship grocery store complemented by a variety of retail outlets, ample free parking and strategic locations in densely populated areas.
The retail park sector in Bulgaria has seen impressive growth in recent years. According to new data, more than 81,000 m2 of new retail space has been completed in 2024, and forecasts for 2025 indicate a 25% growth. Retail parks have established themselves as a preferred alternative to traditional malls in the country due to their flexibility, lower initial investment and greater variety of tenants, making them attractive to both investors and consumers looking for convenience and easy access to goods and services.
Photo source: ©Engineer.BG via Canva
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