Bulgaria 13th in commercial space under construction in Europe
Bulgaria ranks 13th in Europe in terms of commercial space in shopping centres that are due to be completed by the end of 2012, according to a report by real estate consulting firm Cushman&Wakefield presented in the country by its partner Forton International.
By the close of 2012, about 181 500 sq m of commercial area in shopping centres across the country will be put into use, the report said.
Currently, Bulgaria ranks 30th in terms of available shopping centre space in Europe, or 67.5 sq m for every 1000 residents, which is far below the European average of 240 sq m.
"After being one of the top five countries in terms of new shopping centre space in 2010, not a single mall opened in 2011," Vladislav Kayzerov, office space manager at Forton, said.
According to Kayzerov, the market is starting to stabilise, projecting that in 2011 the segment would see new foreign tenants, operators of unfamiliar formats for entertainment, as well as a new generation of shopping centres.
The report also showed that investments in shopping centres in Europe stood at 19.8 billion euro in the first half of 2011.
Text and photo: sofiaecho.com
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