Israeli company Melina has announced plans to invest up to EUR 150 mln in a chain of out-of-town shopping malls in Bulgaria over the next three years.
Israeli company Melina has announced plans to invest up to EUR 150 mln in a chain of out-of-town shopping malls in Bulgaria over the next three years.
Melina said it will build 12 shopping and entertainment centres, with a combined floor space of 350,000 to 400,000 m2, located 3 km outside the city limits. Two-thirds of the property footprint is earmarked for parking. They will house discount, DIY and furniture retailers, supermarkets, cinema theatres, restaurants and cafés. Units will rent at just EUR 6 to 10, allowing retailers to maintain a competitive edge. The first centre will be built within a year in Vratsa, in northern Bulgaria, the second is scheduled for Plovdiv.
Commenting on the Plovdiv project, CEO Yakov Niv said that the aim is to construct a 'modern trade and cultural centre where the citizens of Plovdiv feel proud of their city'. The Israeli investors have broad experience in building large trade and office buildings in Europe, the USA, Canada, and Israel.