Polish Company To Invest 90m Leva In Mall Construction In Bulgarias Varna

Polish company Globe Trade Centre (GTC) will provide funding for nearly 95 per cent of the construction of Gallery Varna mall.

Investment will total 89 million leva, investor.bg reported.

This is the fourth mall project to be launched in the coastal city of Varna since the beginning of 2007.

The project is still awaiting construction permit. Construction works will be finalised by the end of 2009.

Annual rental income is expected to reach 9.5 million leva.

This is the first GTC project in Bulgaria. The company already has several trade centres in Romania. It plans to construct two more trade centres in other big Bulgarian cities.

GTC announced that in 2006, it acquired a 4500 sq m plot in Sofia, worth 1.55 million euro.