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Local firm picked to build Grand Mall Varna

Saturday, Aug 30, 2008

A consortium led by Varna-based construction firm Comfort was picked to build Grand Mall Varna shopping centre in the city, website investor.bg reported on August 28 2008, quoting developer Orchid Developments Group.
Comfort and its partner, Israeli Afcon Industries Group, which specialises in electro-mechanical and control systems, won the tender for the 85 million euro contract, investor.bg said. In June, Orchid estimated the total costs of building the mall at more than 100 million euro.
Comfort has carried out construction in Varna, Shoumen and the resorts of SS Konstantin i Elena, Zlatni Pyassutsi (Golden Sands) and Slunchev Bryag (Sunny Beach) since it was set up in 1989.
Grand Mall Varna will have a build area of 150 000 sq m, including 50 000 sq m of leasable retail space in 220 stores on four floors. The rest will be taken by offices in three tower buildings. An underground parking lot with 1700 parking spots is also part of the project.
The developer has also secured a long-term contract with Arena Cinema, one of the largest cinema operators in Bulgaria. As part of its regional expansion strategy Arena will open eight halls spreading over 2500 sq m, with a total capacity of 1200 seats, in the mall.
The mall is expected to open its doors at the end of 2009.

Source: PropertyWise Bulgaria