Riofisa, the Spanish shopping centre developer, has said it will invest EUR 72 mln in a mixed-use construction project in Sofia, Bulgaria. The development, to be started in 2008, will cover an area of 54,000 m[sup]2[/sup]. This adds to other four major international investments by Riofisa, and is its third in Bulgaria.

Riofisa, the Spanish shopping centre developer, has said it will invest EUR 72 mln in a mixed-use construction project in Sofia, Bulgaria. The development, to be started in 2008, will cover an area of 54,000 m2. This adds to other four major international investments by Riofisa, and is its third in Bulgaria.

The two existing projects, located in Sofia and Plovdiv, involve an investment of EUR 334.9 mln and EUR 215 mln respectively. Sofia's mixed-use project includes offices, a hotel, a 90 metre-high tower, 4,000 parking spaces, as well as the largest shopping centre in Bulgaria. The other development in Plodvid, Bulgaria's second city, covers an area of 90,000 m2 with 2,600 parking spaces. It includes a shopping mall, a hotel, offices and a residential area.

The company said in a statement that the investment is part of its international growth strategy centred on the eastern European emerging markets.