Tue, May 22 2012

Carrefour to build mall in Stara Zagora

Tue, Jul 08 2008 14:58 CET

bySvetlana Guineva
propertywisebulgaria.com

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Carrefour, the French hypermarket chain, announced plans to build a retail-entertainment complex in Stara Zagora, weekly Stroitelstvo Gradut said. The total investment will amount to 10 million euro as the property itself will be situated on a land plot of 20 900 sq m. The project features a mall, whose retail space will be 14 575 sq m, as well as hypermarket on a further 6324 sq m.

Architect Ilian Iliev of Planning Ltd. has been picked todesign the mall, with Carrefour currently still looking to select a construction company to build it. With the opening of the complex, Carrefour has promised to offer 400 new job positions when the project is completed by 2010 as planned.

The international hypermarket chain has a global network of stores and it is considered to be the second largest retail group after the American corporation Wal-Mart, in terms of revenue. Carrefour operates in Europe, South America, North Africa and Asia.

In the next five to seven years, the retail giant is planning to open at least 20 hypermarkets in Bulgaria.

As previously reported by The Sofia Echo, in March Carrefour sold its largest development in the country to date, constructed on Sofia's Tsarigradsko Chausse bouldevard for close to 200 million euro. The new buyer, Greek fund Assos Capital, is entitled to complete the adjoining commercial centre, but Carrefour retains ownership of the 14 600 sq m hypermarket, located in the mall.

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