2017 is Set to be Record for the Retail Market in BulgariaBusiness | August 24, 2017, Thursday // 11:21| views
2017 is expected to be record for the retail market in Bulgaria, predicts Forton, a strategic partner of Cushman & Wakefield for Bulgaria.
In the first eight months of this year, transactions for over EUR 400 million were made, the company reports.
So far, the ownership of five major shopping centers has changed or ended, and further transactions in this segment are expected by the end of the year. If all of them are completed, the total value of retail segment transactions will exceed EUR 520 million, and the total market will exceed EUR 900 million, experts predict.
With such a result, 2017 will be ahead of pre-crisis 2008, when sales of The Mall, City Center Sofia and other projects amounted to EUR 345 million.
Shopping Centers - a key driver of the property market in Central and Eastern Europe
Bulgaria is no exception to the general trend in Central and Eastern Europe, where shopping center acquisitions are the strongest driver of investment markets this year, says Cushman & Wakefield Forton CEO Michaela Lashova.
"The main reason for the increased investor interest in our country is the growth of the economy and consumption, which leads to higher turnover of the traders and respectively of the rents," she added.
These positive trends are also supported by the limited construction of new areas. This helps the working projects to consolidate their position on the market and increase their attractiveness to investors.
Interest in acquisitions is mainly from funds and companies that build a portfolio of assets in the region and our country is among their target markets.
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