News
Grand Mall Varna received a building permit
Orchid Developments Group Ltd. investment fund, developing a number of projects on Bulgarian properies market, has finally received a construction permit for its Grand Mall Varna development, company officials published on December 11. They declared that the investor has secured financing for the enterprise.Initial construction works are already underway and are expected to finish by February 2008. Building of the mall and its towers will start in the first quarter of 2008 and will last almost 24 months.
The company will finance its project by a 20-year loan with OTP Bank Nyrt and MKB Bank Zrt. and their Bulgarian spin-offs DSK and Unionbank, amounting to 107 million euro.
Grand Mall Varna is a part of the Orchid MultiUse Complex, comprising the development of 80 000 sq m retail and entertainment areas, 51 000 sq m in office space and 1 650 parking places.
The French retail giant Carrefour will be the mall’s key tenant, the entrepreneurs published in September this year.
Back to news
The Rose Festival 2015 – one spectacular event worth a visit
Sozopol among top 3 destinations in world tourism chart