Mall of Sofia gets investor certificate
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Mall of Sofia gets investor certificate
INVESTBULGARIA Agency’s (IBA) executive director, Pavel Ezekiev, on July 28 handed Mall of Sofia a First Class Investor certificate to invest 70 million leva in a complex in the capital city.
More than 50 world brands will be represented in the mall.
Eli Egosi, executive director of M.O.Sofia, which will build the mall, said that his company was studying opportunities for further investments in Varna, Bourgas, Plovdiv, and Sofia.
According to Egosi, 90 per cent of the mall’s commercial space has already been rented out. More than 50 world trademarks, which are still not represented in Bulgaria, plan to open outlets at the Mall.
The mall’s total area is estimated at 7.3 hectares. It will also house office space, a supermarket, shops, boutiques, restaurants, cafes, 12 cinema halls and an underground car park.
M.O.Sofia’s shareholders are IT Sofia BV of the Netherlands (a subsidiary of Cinema City International, which runs over 400 cinema complexes in Central and South-Eastern Europe and Israel) with a 50 per cent stake, Aviv Holding of Austria (a subsidiary of Aviv Construction and Public Works, a leading construction and design company) with 25 per cent, and Ocif Investment and Development of Israel (also a subsidiary of Aviv Construction and Public Works) with 25 per cent.
Egosi said that his company’s venture has encouraged other Israeli investors to come to Bulgaria, one of which was planning to build a plant for building materials in Turgovishte, North-Eastern Bulgaria.
The IBA would set up an office in Tel Aviv to respond to Israeli interest in Bulgaria, Ezekiev said.
M.O.Sofia became the sixth company to receive the First Class Investor certificate since the new Investment Promotion Act came into force last year.
The other five recipients are Germany’s Lindner for Business Park Sofia, Canada’s Dundee Precious Metals for the copper deposit near Chelopech and the gold deposit near Krumovgrad, France’s Montupet SA for an aluminium car parts production unit for Renault, Peugeot, Audi and Ford, and the Assarel – Medet for the upgrade of its copper mining facilities.
– Business Staff
www.sofiaecho.com
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