Riofisa, the Spanish shopping centre developer, is to invest EUR 215 mln in the company's 2nd shopping and entertainment project in Bulgaria. The 90,000 m[sup]2[/sup] centre with 2,600 parking spaces will be built in Bulgaria's second city Plovdiv, as part of a large development which includes a hotel, offices and a residential area. Riofisa forecasts the centre will generate EUR 20 mln in its first year, purely from the rental of the retail units. It did not give a figure for the expected income from the residential and office space. Construction work is due to begin in 2007 and the first phase should be completed in 2009.
Riofisa, the Spanish shopping centre developer, is to invest EUR 215 mln in the company's 2nd shopping and entertainment project in Bulgaria. The 90,000 m2 centre with 2,600 parking spaces will be built in Bulgaria's second city Plovdiv, as part of a large development which includes a hotel, offices and a residential area. Riofisa forecasts the centre will generate EUR 20 mln in its first year, purely from the rental of the retail units. It did not give a figure for the expected income from the residential and office space. Construction work is due to begin in 2007 and the first phase should be completed in 2009.
The Plovdiv project is Riofisa's fourth international project and its second major development in Bulgaria. The first is a EUR 334.9 mln investment in a mixed-use project in Sofia. It includes the largest shopping centre in Bulgaria, offices, a hotel and 4,000 parking spaces. The site will include a 90 metre-high tower which will act as its landmark.
