Mall Rousse Books Half Of Its Capacity

Petar Doudolenski, executive manager of Mall Rousse project signed on March 25 the contracts with key tenants in the shopping centre, including international cinema operator Cinema City, Piccadilly supermarkets, household appliances retailer Technomarket, Happy restaurant chain, fashion brands Esprit and Oviesse, shoe-seller Leonardo and bookstore chain Ciela.

“I believe that Mall Rousse will be among the preferred venues for shopping and entertainment both to Rousse residents and to regular tourists from our neighbour Romania,” Rousse mayor Bozhidar Yotov said during the formal ceremony held in Sofia.

The mixed-use complex is the third and largest project of Israeli Cinema City and Ocif Group in Bulgaria after the already operating Mall of Sofia and Mall Plovdiv, which is currently under construction, the company said in a statement.

The project will be realised through their investment company Real Estate Services Bulgaria (RESB) in partnership with the Rousse-based company Iris Jsc, currently developing Business Park Rousse, which will embrace a 32 000 spread in close proximity to Mall Rousse. It is expected to open at the beginning of 2010, at the same time with Mall Rousse.

The three-storey Mall Rousse will spread on a 60 000 sq m plot, situated some five minutes away from the city centre, between the two main thoroughfares – Lipnik and Potsdam Blvds. Investment in the project is estimated at 85 million euro. The total built-up area will surpass 51 000 sq m and the gross leasable area is 35 500 sq m, encompassing 160 retail units. A total of 1 200 parking places has been envisaged to serve the establishment.

“All of our tenants in Mall of Sofia and Mall Plovdiv are “following” us and even renting larger space. We have plans for other projects across the country and will soon deliver an update,” Doudolenski said.

The areas of retail units in Mall Rousse range from 20 to 4 700 sq m range. The shops, contracted on March 25, are as follows: Piccadilly (4700 sq m), Cinema City (3 000 sq m), Technomarket (2 900 sq m), Leonardo (1 000 sq m), Oviesse (960 sq m), Happy (900 sq m), Esprit (700 sq m) and Ciela (490 sq m). The contracts are long-term – concluded for 5 to 10 year-periods.

It is expected that leasable space in Mall Rousse will be 100 per cent rented out in a year’s time. The development will open for business at the turn of 2010. RESB is the investment company of Cinema City International and Ocif Group, which has long-term plans for real estate investment in Bulgaria and the Balkans – retail-entertaining centres, office buildings and modern residential complexes.

RESB’s projects in Bulgaria so far are:
- Mall of Sofia – 22 000 sq m leasable area; 120 retail units; 700 parking places; 100 per cent occupancy; opened in June 2006;
- Sofia Tower (class A office building) – 10 000 sq m lettable area; 150 parking places; 100 per cent occupancy ; opened in October 2006;
- Mall Plovdiv – 22 000 sq m leasable space, 110 retail units, 700 parking places, 98 per cent occupancy; opening – the turn of 2009;
- Park Tower (class A office building) – 16 000 lettable area, 300 parking places, opening – the turn of  2010.

Iris Jsc is the successor of the Bulgaria’s first textile factory, established in 1905. Currently, the core of the company’s portfolio is formed investment in business, retail, residential and logistic developments.propertywisebulgaria.com