The shopping malls market segment could face a crisis in 2010, Emanuil Santev, head of real estate department at Hypo Alpe Adria Leasing told participants at the second regional conference Balkan Real Estate Conference (BalREc) on April 15 2008, as quoted by Dnevnik daily.

On the first day of the two-day conference held in Sofia's Kempinski Hotel Zografski participants could not find an answer whether Bulgaria's real estate market was going to suffer a serious crises.

“In terms of shopping malls one could say that a crises is approaching because almost every big city in the country has a shopping mall or is in the process of getting one” Santev said. 

Another risky market segment was holiday complexes, Santev said. “It is expected that this market segment will be at a standstill in the next two or three years.”

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