News

Israeli co Melina to build 12 shopping centers in Bulgaria

Israeli company Melina has announced plans to invest up to 150 mln euro in a chain of out-of-town shopping malls in Bulgaria over the next three years, reports news agency SeeNews.

Melina plans to build 12 shopping malls located 3 km outside the city limits on an area of 6 to 12 ha. Two-thirds of the property footprint is earmarked for parking.

The retail park will house discount, DIY and furniture retailers, supermarkets, cinema theaters, restaurants and cafes. The combined floor area of all commercial outlets in the park will be 350,000-400,000 sq m.

The reasonable rent rates of around 6-10 euro for the retail park tenants should allow them to offer lower prices to the customers.

The first retail park will be built within a year in the city of Vratsa, Northern Bulgaria.

Melina has also bought development sites in Plovdiv, Vidin and Ruse. A property deal n Dobrich is currently taking shape. The company also plans to open retail parks in Burgas, Sliven, Yambol, Haskovo and Blagoevgrad.

Melina plans to build a large-scale business center in Sofia and has already bought the land plot