Bulgarian property developer Orchid Developments has reached an agreement with Carrefour that will see the international retailer as an anchor tenant in the Grand Mall Varna, the shopping centre element of a multi-use complex development in the Bulgarian city of Varna. The deal involves a total 9,300 m[sup]2[/sup] for a maximum 30-year period. The lease is to begin on completion of construction, expected by the fourth quarter of 2009.

Bulgarian property developer Orchid Developments has reached an agreement with Carrefour that will see the international retailer as an anchor tenant in the Grand Mall Varna, the shopping centre element of a multi-use complex development in the Bulgarian city of Varna. The deal involves a total 9,300 m2 for a maximum 30-year period. The lease is to begin on completion of construction, expected by the fourth quarter of 2009.

The project is the largest multi-use complex in Varna and one of the largest in Bulgaria. In total, it comprises 80,000 m2 of shopping and entertainment space, 51,000 m2 of commercial space and 1,650 parking places. Orchid is investing EUR 100 mln in the project.