Thursday, June 7th, 2007
Spanish company Riofisa says Sofia mixed-use development to kick off soon
Riofisa SA, a leading Spanish real estate company, said it expects to secure all necessary construction permits and commence work on its mixed-use development in Sofia, said Carlos Pilar, in charge of the company’s international expansion. Riofisa Wednesday was granted a First Class Investor certificate by InvestBulgaria Agency, the local investment promotion authority.
Pilar said the conceptual design of the development will be completed promptly and the company will apply for the relevant permits as soon as possible. The 280,000 sq m built-up area scheme, sited near the Sofia central train station, should be completed in late 2009 or early 2010.
The launch of the 85,000 sq m retail component of the scheme will attract retailers that are not yet present on the Bulgaria market but usually have leases in Riofisa commercial properties.
In addition to retail outlets, the shopping center will feature a supermarket, casino, bowling alleys and cinema theaters.
The property, with an initial estimated cost of 335 mln euro, will be anchored by an 90 m high-rise housing offices and a hotel. The other components of the scheme are still being put together and it has not been decided if they will be office or residential, said Pilar.
In 2006, Riofisa unveiled a 215 mln euro project for a commercial and entertainment center in Plovdiv, Bulgaria’s second biggest city. Pilar said on Wednesday that the land plot for the scheme has been purchased but refuse to name the location.
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