Sofia Swaps Market Hall for Russian Church Park

The Sofia City Hall will become owner of the coveted land plot near the Russian Church (pictured) by swapping its shares in the Central Market Hall. Photo by Sofia Photo Agency

The Sofia City Hall will swap its shares of the Central Market Hall in order to become the owner of the park near the Russian Church, both in the downtown of the Bulgarian capital.

The proposal comes from three municipal councilmen from the ruling center-right Citizens for European Development of Bulgaria (GERB) party and one from the far-right, nationalist Ataka party, and will be voted during the City Hall's last meeting Thursday, before their summer break.

According to the proposal the company Ashtrom will acquire the entire Central Market Hall, where the municipality now owns 25% while the latter will acquire the land adjacent to the Russian Church, according the the Bulgarian news agency, BTA.

The agreement will be signed between the City Hall, Ashtrom B.V. Ashtrom Ltd, Abrotrea International and Central Market Hall.

Abrotrea International owns the land near the Russian Church, which is currently a park. Ashtrom and Abrotrea are both affiliates of the Dutch Ashtrom B.V..

Court trials, related to both properties, where the City Hall is a defendant, are going on for years. If the City Hall wins the case for the Central Market Hall, it will still have to pay Ashtrom Ltd for the improvements made by the latter.

The City Hall is to pay for the land BGN 5.6 M and will receive for its Central Market Hall shares BGN 6.2 M with the difference paid directly to the municipality.

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