Sun, Nov 22 2009

Pazardjik Mall construction postponed until 2010

Mon, Feb 02 2009 14:47 CET byNick Iliev 348 Views

Litos Ibuilt OOD has delayed construction of the trade complex in the city of Pazardjik by a year, according to town mayor Todor Popov, as quoted by Stroitelstvo Gradut.

The manager of the construction company, Ivo Koloushev, informed him officially by letter that the company would place any further investments on hold in light of the economic crisis and related altered projected costs.

In July 2008, Litos Ibuilt declared that it would invest 6.5 million euro for a new mall in Pazardjik, which was to be completed by the end of 2010.

According to blueprints, the project would encompass a total of 1661 sq m, near the Saint Georgi church in the city centre. The project is a brainchild of Studio 17.5 OOD Sofia, whereas DS build will be entrusted with the foundation construction, with Stroi Control Correct being the consulting company.

The mall will consist of 120 shops, which will be rented out, an entertainment centre, restaurants and boutiques. It will also have an area designated for small children.

The initial investment intentions and the total cost of the project were made by Litos Ibuilt on May 30 2008 when the symbolic first sod was turned.  However, construction has not started at all. The only work accomplished so far is the removal of the old tarmac of the former municipal parking lot with a total area of 1661 sq m, for which the company paid in excess of 840 000 leva.
 

Write comment

Name:Comment:

Generate new code
Send your comment
Crisis dampens investment in trade centres in the country

More commercial ventures are put on hold as crisis deepens but some commentators belive that this will lead to more realistic

Luxury Fanagoria complex to be built in Varna

A modern condominium equipped with a private beach, spa, bar and an outdoor swimming pool will be built on the north tip of the Zlatni Pyasutsi (Golden Sands) resort in Varna.

Sandanski waste disposal depot to be expanded

At the beginning of January 2009, Sandanski mayor Anton Totev signed a contract with the Environment Ministry in which plans were approved and the go-ahead was given for the waste management depot in Sandanski to be expanded and to have its processing capacity increased. This was reported by Stroitelstvo Gradut in its January 26 edition.

The X Files – apartment blocks vanish in Varna

The new digital map of Varna has surpassed all previous errors of its kind observed in Bulgaria to date. Entire apartment blocks, constituting whole boroughs, have magically disappeared from the mapping process.

Extrapack builds a second base in Veliko Turnovo

Extrapack OOD has invested 25 million euro in a second large production base in Veliko Turnovo, on the motorway at the entrance from Sofia, approximately five km west from the first factory.

Second aquamarine complex in Obzor to be built

Aquamarine 2 real estate complex started construction in the Bulgarian seaside town of Obzor at the end of 2008, 100m from the coast on the south edge of the town near its predecessor, Aquamarine 1, Stroitelstvo Gradut reports.

More in this category

New modern marina worth 24M leva to be constructed in Pomorie

The Black Sea town of Pomorie has approved a proposal for the construction of a spacious and modern marina, with a capacity of over 600 yachts and small passenger ships.

Construction sector in Europe continues to decline

Over the course of a year, from one of the leaders in Europe in new construction, Bulgaria became one of the countries currently quagmired at the bottom of the table and was now amongst the three worst hit countries, along with Romania and Slovenia.

Bulgarian Property Developments begin construction of 12.6M euro logistics park in Rousse

The park is posed to act as an economic stimulant in the region, creating a modern infrastructural base for companies. It is set for completion by Q3 of 2010.

Discounter chains Penny Market, Plus open stores in Bulgaria

Both retailers target at least 50 outlets in Bulgaria by the end of 2010.

The big question

When will Bulgaria’s real estate and construction sector recover?

© 2000-2009, Sofia Echo Media Ltd.

Web Design by RIZN

Sofia Echo Media is part of the Economedia Group.
The news and information content on this website is provided by our editorial team and is copyrighted. Any unauthorised reproduction or use of it is strictly forbidden. Reproduction of this website's content is permitted only with prior written permission from the Editor-in-Chief, should be propertly acredited and provide an active link back to our site. Comments posted by the website's visitors are independent of the editorial materials and do not represent the views of sofiaecho.com. Sofia Echo Media cannot be held responsible for the statements contained in visitor comments. The percentаge change in the shares' prices are based on the price of the last transaction of the current session compared to the price of the last transaction of the previous session. Bulgarian Stock Exchange data is not real-time, but updated every 15 minutes, and should not be used as a basis for decisions about buying or selling stock options.