Spanish Zara Lands In Bulgaria

The Spanish apparel brand Zara has already rented a 1 800 sq m unit in the future Carrefour mall in Sofia, to be located in Tsarigradsko Chausse Blvd. The retail chain will enter the Bulgarian market directly through its Spanish manufacturer Inditex, David Davidov, manager business space in Colliers consultants, said in an interview with Kapital weekly.

The mall is expected to open in the second half of 2009.

Currently, Zara does not have a store in Bulgaria, but its old collections are sold through the Z Outlet chain of stores in the country.

Carrefour mall, sold to Greek private property fund Assos Capital at the weekend, will also host the first store of large Greek chain Electroniki, specialised in electronics, hi tech and electrical appliances.

The Greek book and music chain Public has already concluded a contract for renting a unit in the commercial centre, which will also house the shops of famous brands like Marks&Spencer, Intersport and Sprider.

However, the cinema halls have not been rented out yet.

Retail units in the mall with areas exceeding 1 000 sq m rent at 20 –26 euro a sq m and smaller shops are let at 30-60 euro a sq m. Most of the leases are signed for a 10-year period.propertywisebulgaria.com