News

Developers repurpose old Sofia hotels into retail, office centers

Grand Hotel Bulgaria is one of the oldest in the city center. It had been undergoing partial renovation. The intended use will be changed in response to the intense competition on the Sofia hotel market which has been welcoming scores of new hotels over the past couple of years.

Similarly, investment fund Equest has announced plans to revamp the Serdika hotel in the Bulgarian capital into a mixed-use office and retail scheme.

The Grand Hotel make-over will cost over 80 mln levs and should be completed in 2010.

The building façade will remain intact while the interior will be redesigned to accommodate 16,000 sq m of office space, 7,000 sq m of retail space and 3,000 sq m of residential space. The complex will also feature a 6,500 sq m underground parking lot.(Dnevnik)