Is the first Mall in Sofia closing

Is the first Mall in Sofia - the City center Sofia, after it's cinema closed a few months ago? This question becomes more and more proper after a few tenants received notifications for terminating their rental contracts, because the first mall in Sofia is going to be closed.

"This is not true, these are only rumors", announced Hristo Ivanov, the representative of the management company AIG/Lincoln. He added that there are tenants who left but also new ones, who are renting retail premises. The free spaces by the end of 2011 are 7%.

As far as the cinema halls, in theory it is possible that they remain empty, but from the management of the Mall are hoping that they will be opened within the next 1 - 2 months, after the renovations are finished.

Information for closing the first Mall in Sofia was announced in July 2011, after it became clear that the income from rent are decreasing and the maintenance expenses are increasing. The rumors for the closing the Sofia City Center were as a result of a report, prepared by Ernst & Young in which was stated that the American fund Heitman, the owner of City center of Sofia is having difficulties in servicing the loan to Unicredit bank Austria.