site.btaEBRD Invests in Bulgarian-Belgian Fund for Construction of Retail Parks in Bulgaria

The European Bank for Reconstruction and Development (EBRD) becomes a partner of the Bulgarian company Park Lane Developments, part of AG Capital, and of the Belgian fund Mitiska REIM, which are developing retail parks across Bulgaria. The bank will invest EUR 50 million in the MEREP3 fund, which targets projects in Central and Eastern Europe.

Park Lane Developments has brought in Mitiska REIM as a partner to build 10 retail parks in Bulgaria in 2024. The company announced the launch of its first two projects in the capital's Hadzhi Dimitar and Nadezhda residential districts. 

The retail park in Hadzhi Dimitar RD will have 14,000 sq m of retail space. The key tenant in the park is the retail supermarket chain Lidl. Construction is expected to start in the first quarter of 2025.

The project in Nadezhda RD will have stores with a total retail area of over 13,000 sq m. Bulgarian retail chain Fantastico will be the main retailer with a 4,000 sq m modern supermarket built on its own property. 

The EBRD's mission is to foster the transition to open market-oriented economies and to encourage private and entrepreneurial initiative. The investment will focus on supporting the growth of green and sustainable commercial real estate in Central and Eastern European markets.

Park Lane Developments has a development plan over the next few years to open at least 10 state-of-the-art retail parks in Bulgaria. The projects are based on the concept of convenient shopping in densely populated urban areas with easy access, ample free parking, diverse retailers offering a wide range of products and services. A large grocery store occupies a key location in each of the parks.