Cinema City sells mall projects for EUR 85m
Cinema city, a movie theaters chain that has a real estate business in Bulgaria, has signed a contract to sell two mall projects to Israeli Ιsrael Theaters.
The deal is valued at EUR 85 million and concerns the Маll of Ruse and Mall of Stara Zagora projects. According to the seller's preliminary plans it should be completed this year.
Cinema city will get EUR 70 million when the deal is closed and the remaining EUR 15 million will be paid nine months after the opening of Маll of Rousse but no later than eighteen
Both projects were announced two years ago. The construction of the Маll of Rousse is at an advanced stage while the one in Stara Zagora is still on the drawing board. Combined the malls cover 112,000 square metres, of which commercial surface takes 58,000 square metres.
Text source: dnevnik.bg
Image: resb.bg
To see the presentation of the company, please follow the link:
(09.03.2010)