site.btaForeign Investors Plan to Build Five Retail Parks in Bulgaria in Five Years

Park Lane Developments and Mitiska REIM have announced the formation of a joint venture to develop retail parks in Bulgaria, a PR agency reported. The two companies' initial plan is to develop and open five retail parks over the next five years.

Mitiska REIM is a European investor in commercial real estate and is entering the Bulgarian market for the first time. Park Lane Developments, which specialises in the development and management of prime commercial property in Central and Eastern Europe, is taking over the operational management of the business in Bulgaria.

The investors are working on several projects located in densely populated residential areas. The retail parks are based on the concept of convenient shopping through easy access, free parking, a variety of retailers offering a wide range of products and services. A large grocery store will occupy a key location in each park.

In April 2024, Park Lane Developments acquired a plot of land in the Hadzhi Dimitar district of the capital, where shops with a total lettable area of over 14,000 sq. m will be built.