Grand Mall in Varna reaches occupancy of 60%
02 December 2008
The occupancy of Grand Mall shopping centre in Varna has already reached 60%, according to the exclusive leasing consultants, Colliers International in Bulgaria. Grand Mall is currently being developed at Vladislav Varnenchik blvd in Varna and has been very well received by the market, say Colliers. One of the latest agreements to be signed is with Inditex Group, one of the largest fashion distributors worldwide, which will bring to Grand Mall its Zara, Bershka, Pull and Bear and Stradivarius brands.
Besides Zara, the shopping mall will be anchored by a Carrefour hypermarket, Technomarket (consumer electronics), Arena Cinema and Mango. Calliope, Oviesse, Playlife, Terranova,Intersport, Guess, Humanic, Orange and Douglas (health and beauty) are also among the prominent tenants in Grand Mall.
“This marks the successful outcome of an extended negotiation process,” says David Davidov, Director, Commercial Brokerage Services, Colliers International. “The presence of a tenant of such a calibre provides a strategic advantage to our project, in a very competitive environment. We are extremely satisfied with the result and confident that Inditex has made the right choice in Varna”.
“The fact that Inditex has chosen Grand Mall in Varna as their platform for an entry into the city is very significant for the market,” adds Eli Egosi, Project Manager, Grand Mall. “It shows confidence in the Bulgarian market and in our project in particular. I can promise that even more new, international brand names will come to the mall”.
Grand Mall is located on one of the busiest boulevards in Varna, Vladislav Varnenchik blvd, with excellent access and visibility, and in close proximity to downtown. The mall has a gross leasable area (GLA) of 52,000 m2 and more than 1,700 parking spaces. Grand Mall is developed by Orchid Developments Group Ltd and is expected to open in the first half of 2010.
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