Spanish Riofisa Presents Its 270 Million Euro Civis Center 10/03/2008
Spanish mall developer Riofisa presented on February 13 its plans for a 270-million-euro retail compound in Sofia, to be built near Sofia’s central railway and bus stations, which is expected to improve the infrastructure and environment in this part of the city. The compound, to be called Civis Center, will be built in two stages, including a modern commercial and entertainment centre - “the largest in Bulgaria,” according to Juan Merino, general manager of the shopping centre division of Riofisa - and a 130-metre tower, which will house offices and a hotel. The construction of the three-storey retail centre, comprising more than 250 retail and entertainment units, in the first phase will cost 270 million euro. The mall will have 3 927 parking slots, a 13 500 sq m hypermarket on... more

Media Reviews 14/03/2008
The site reports on a worldwide property survey by economists at Global Property Guide on last year's international house prices. The survey's findings confirm a crash in the US housing market, a slowdown in Europe's housing markets and a gathering of momentum in the Asia-Pacific. "Closer inspection of the report showed some surprising winners and losers," notes the site. "Bulgaria saw the world's strongest house price growth at 30.6 per cent (15.4 per cent in real terms) to end-Q3 2007 from a year earlier. Most European countries registered unimpressive year-on-year house price changes in 2007, except Norway and Estonia." The report notes that property prices in Ireland fell last year, the first time in more than 15 years. "The Irish housing market had the biggest and... more

3000 Euro Sq M For Shops In New Malls In Sofia 12/03/2008
Shops in malls currently under construction are being sold at 3000 euro per sq m, manager of the Bulgarian office of Estonian Arko Vara group, Rauni Tiliso said. Demand for shopping real estate in Sofia is high. Most wanted are malls and shops in main shopping streets, Za Grada quotes Dnevnik daily. Shops under construction are 50 per cent up from the end of 2006. At the moment eight to nine malls are under construction in Sofia. The most expensive shopping street in the capital is Vitosha, where prices have gone up slightly from the beginning of 2007. Maximum monthly rent reached 180 to 200 euro per sq m. Shops have not been offered for sale for the past several years, but sales prices are expected to reach 22 000 euro per sq m. Monthly rents in other shopping streets... more