ECE's Serdika Center 70% leased two years before opening

German developer ECE Projektmanagement said last week it has appointed Turkish construction company Kayi to carry out the construction work on its Serdika Center development in Sofia. The centre is expected to open at the beginning of 2010. 'We are cooperating with the company already on other projects, in Lithuania for example, and we know Kayi as a reliable partner,' said Plamen Iltchev, general manager of ECE Bulgaria. ECE said that about 70% of the centre has already been leased almost two years before its opening.

ECE, which is developing the centre in partnership with Sparkassen Immobilien, expects the investment on the project will amount to about EUR 210mln. The shopping mall will provide 51,000 m² of sales space on three levels, with 218 shops, and about 35,000 m² of office space at the top of the building.

Sparkassen Immobilien is a major retail and office investor in Central and Eastern Europe and just recently started the biggest shopping center in Bucharest. In Bulgaria, the company operates through its subsidiary Immorent Bulgaria.

ECE Projektmanagement has been active in Bulgaria with a local office since the beginning of 2006. In addition to the Serdika Center, ECE Bulgaria is also realising the Europe Center and the Europe Tower in Sofia and the Cherno More Park in Varna.