Mall of Sofia. Credit: GTC
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GTC expands tenant portfolio in Bulgaria

IKEA and Bershka will be new tenants in the Mall of Sofia – one of the most successful shopping malls located in the city. As a result of these agreements, GTC will lease 2,000 sq m of retail space in the centre.

GTC has signed an agreement with IKEA and Bershka to lease retail space in the Mall of Sofia. Moreover, GTC Bulgaria has also contracted with the World Bank for the expansion of office space in the Advance Business Center II office building. These activities testify to good profitability and tenants’ interest in leasing office and retail space even during the pandemic.  

GTC Bulgaria has successfully completed the year by signing an agreement with two new tenants – IKEA and Bershka to lease the retail space in the Mall of Sofia. IKEA plans to open its new 1,200 sq m concept in May 2021. The tenant will move in after the modification of the building, as a result of which, a new office tower, Sofia Tower 2, will appear on top.

In May next year, Bershka, a clothing store for teenagers, will also open in the Mall of Sofia. Inditex, the owner of Bershka, has just signed a contract for the lease of 800 sq m of retail space.

This is not all good news. A year after signing the contract for office rental in Advance Business Centre, World Bank decided to extend the office space by another 650 sq m. As the result, the World Bank will rent 4,650 sq m of high quality, innovative office space in A-class Advance Business Centre II office. The building is due for deployment in the nearest future. It is LEED Gold pre-certified.

“GTC has a long and successful history on Bulgarian market. It is strategically important for us to develop our portfolio here and invest further, especially as we see a growing demand for premium class office and retail space. The clients appreciate perfect location of our projects, well-designed interior, and amenities available inside and outside our investments. But we don’t want to be seen as an investor only. We are doing our best to be a good neighbour and responsible corporate citizen. That is why organize many community and charity events. For example, now we run a big charity campaign to collect dry food for people in need, in which our tenants actively engage – commented Danny Bercovich, Country Head at GTC Bulgaria.

In Bulgaria, GTC currently operates three projects in use – Mall of Sofia, Sofia Tower, and Advance Business Centre I. The company also has two office projects under construction – Sofia Tower 2 and Advance Business Centre II. 

Mall of Sofia is located at the intersection of the two busiest roads in the centre of the Sofia. The building benefits from its strategic location through immediate connection to multiple bus, trolley, tram stops and the metro station only 3 minutes away. The mall enjoys high customer frequency among residents. 

Advance Business Center II is the second GTC landmark office development set within Business Park Sofia. Besides being well-communicated by public transport and ring road to the center and all major entry-exit points of the city, the office complex is surrounded by a diversity of service and entertainment facilities, such as fitness center, cinema, beauty salon, Hotel Park Inn, cafes and supermarkets.

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