Experts Think Oversaturation on the Segment of Shopping Malls Possible After 2010
The projects for shopping and business centers will be the most attractive ones for investors in 2008. However, experts from Arco Real Estate, say oversaturation on the market may start to be felt around 2010, when all projects hat are being developed now get competed and enter into operation.Currently there are four malls in Sofia and there are 18 more planned. Half of those are already under construction – Serdica Cebnter on Sitniakovo Blvd, Bulgaria Mall on Bulgaria Blvd, CIVIS Center behind Central Railway Station, European Center on Tsarigradsko Shose, Sofia Acropolis in Ovcha Kupel area, Business Town Sofia in Mraz Plant industrial area, Olympian Mall and Tower on Slivnica Blvd, San Stefano Plaza on San Stefano Str and Tsarigradski Mall on Tsarigradsko Shose.
Other mall projects in an earlier stage of development are: Forum Sofia, which is to be situated opposite Sofia Business Park, Eurogate in Liulin area, near the road to Kalotina border point, Mage Mall Sofia on Queen Joanna Blvd, Europa Park on Totleben Blvd, DV South Mall in South Park, Lozenetz.
Arco Real Estate experts think the shopping mall segment in Bulgaria is booming. One of the reasons for that is the EU accession, after which many international labels wished to occupy the niche that the Bulgarian market presents.
Another reason is that shopping malls respond to the lifestyle of contemporary Bulgarians. As soon as the very first malls opened doors, street shops began to be recognized as old-fashioned and not suitable to the dynamic city life. The convenience of the centers, which offer a variety of goods and services under one roof is a very important factor.
The shopping malls are designed in such a way that customers spend a lot of time inside. They offer everything from food, designer clothes and shoes, to medicines, as well as different entertainment.
All this saves time and time is what modern people value most, experts conclude.
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