Construction is progressing on Outlet Village Sofia, the first open-air outlet center in Bulgaria. Located at the northern entrance of the capital and integrated into the wider XOPark Sofia retail destination, the project introduces a retail format that has long been established in Western Europe but has not yet taken root in the Bulgarian market.
Developed by Trinity Capital, the outlet village is scheduled to open later in 2026 and will offer around 8.500 sq m of leasable space across approximately 40 stores. The project is positioned at the intersection of the A1 and A2 motorways along Sofia’s ring road, one of the country’s busiest traffic nodes with more than 24 million vehicles passing annually.
For Trinity Capital, the development builds on the success of the adjacent retail park while introducing a new retail format.
“We had the location — a retail park that was already performing strongly,” says Stoyan Kolev, CEO of Trinity Capital. “We wanted to develop the adjacent land in a way that complements and enhances the existing project.”
The outlet concept emerged after discussions with brands and a detailed market analysis.
“It became clear that the outlet village format is one of the best-performing physical retail channels for fashion products,” Kolev explains. “At the same time, the Bulgarian market is now mature enough to accommodate a project of this scale.”
Construction Progress
The project is already visible on site. According to Miloslav Dyakov, Head of Construction at Trinity Capital, building an open-air retail village requires a different approach compared to traditional shopping centers.
“Unlike an enclosed shopping mall, we are constructing separate buildings exposed to the vagaries of weather,” Dyakov explains. “The challenge is to combine fast and efficient construction with architectural diversity and distinct façade solutions for each shop.”
Despite the complexity, construction is progressing quickly.
“Even at this early stage, columns, beams, and floors already outline the scale of the streets and the shop-houses we are building,” Dyakov says.
Designing the Village
Architecture plays a central role in the project’s identity. Rather than extending the retail park with conventional buildings, the development adopts a stylized European village concept.
“Creating a village of this kind is an extraordinary challenge for any architect,” says Radomir Serafimov, Managing Director of Atelier Serafimov Architects. “Nothing of this type had been designed and built in Bulgaria before.”
The design draws inspiration from traditional French and Normandy villages, with buildings slightly offset to recreate the organic layout typical of historic settlements.
“We tried to recreate the feeling of a classic village,” Serafimov explains. “Visitors should feel they are strolling through a place that is completely different from the surrounding urban environment.”
The objective is to combine shopping with leisure and create an environment where visitors spend time beyond the purely transactional.
Building the Tenant Mix
Introducing an outlet format in a market without local references has required careful communication with brands.
“The main challenge was the lack of local reference experience,” says Rumyana Vladimirova, Leasing Manager at Trinity Capital. “However, the outlet format is proven worldwide, and we rely on international expertise and detailed market analysis.”
The leasing strategy focuses on a balanced mix of international and local brands.
“Every step is taken with the outlet’s visitors in consideration,” Vladimirova says. “Each decision is part of an overall strategy focused on long-term value.”
For Simona Parvanova, Leasing and Marketing Director at Trinity Capital, positioning the concept for Bulgarian consumers is equally important.
“We follow proven European practices but adapt the concept to the Bulgarian market,” she explains. “Our strategy focuses on deal hunting in a pleasant atmosphere.”
Market Outlook
The project’s market potential has been analyzed by the German research institute ecostra.
“The site can serve a wide catchment area beyond the capital city itself and also benefit from tourist flows,” says Joachim Will, CEO of ecostra. “As the only professionally designed and managed outlet center in Bulgaria, this project will take on a special market position.”
Within a 90-minute drive, the development could reach around 2.5 million residents, providing a substantial regional catchment area.
Retailers are also beginning to explore the concept.
“The need for this type of format has long been recognized,” says Ralitza Popova, Head of Business Development at Global Brands Distribution. “Such a project has not yet been developed in Bulgaria, and the time has come for it.”
For Trinity Capital, launching the country’s first outlet village inevitably involves a degree of experimentation.
“When you’re the first to launch something new in the country, you always take risks,” says Ivan Nachkov, COO of Trinity Capital. “But innovation is exactly what drives projects like this forward.”
With construction advancing and leasing underway, Outlet Village Sofia is gradually moving from concept to reality — and could mark the beginning of the outlet sector in Bulgaria.
Concept Development
The development has also been supported by international retail expertise. Michael Haslinger, Managing Director of Haslinger Retail Real Estate Consulting, worked with Trinity Capital on the project’s outlet strategy and leasing approach.
“In 2023, Stoyan Kolev approached us with a clear vision: to develop the first truly professional outlet village in Bulgaria, built to international standards,” Haslinger says. “We conducted detailed market studies, developed the leasing strategy, and supported the project through every phase.
Watch Michael Haslinger’s video-statement on YouTube
With all things considered, Haslinger is confident that the Outlet Village Sofia will be a very succsessful asset He states: “I am confident that Outlet Village Sofia will become one of the leading outlet destinations in the Balkan region.”
“The Bulgarian Market Is Ready for an Outlet”
With Outlet Village Sofia, Trinity Capital is introducing the outlet concept to the Bulgarian market. CEO Stoyan Kolev explains why the timing is right and how the project fits into the wider retail destination.
ACROSS: Why did Trinity Capital decide to introduce the outlet village format in Bulgaria now?
Stoyan Kolev: Our decision is the result of a thorough market analysis and strong market logic. We already had a successful retail park and an adjacent plot of land. The question was how to develop it in a way that complements and enhances the existing destination. When we studied established European markets, we saw that the outlet village format is one of the best-performing physical retail channels for fashion.
ACROSS: Why is the timing right today?
Kolev: Ten years ago, the brand market in Bulgaria was not developed enough. The outlet concept relies on a strong brand mix and compelling offers. Today the situation is fundamentally different. Both local brand partners and international headquarters see Bulgaria as a mature and promising market.
ACROSS: What makes the location particularly attractive?
Kolev: Location is always the decisive factor in retail real estate. Our project sits at one of the busiest intersections in the country, with more than 22 million vehicles passing by every year. It has excellent accessibility, strong visibility from the ring road and motorway, and it is close to Sofia Airport.
ACROSS: What role will the outlet village play within the broader retail destination?
Kolev: We see it as a natural extension of the retail park. Retail parks offer convenience and everyday shopping, while outlet villages attract customers looking for branded products at attractive prices. Combining both formats creates a powerful shopping destination that offers variety, value, and a strong customer experience.
ACROSS: What motivates your team during the development process?
Kolev: Everyone involved in the project treats it almost as if it were their own. Discussions sometimes go down to the smallest details — from the design of flowerpots to the layout of walkways. When people approach a project with that level of commitment, it is usually a good sign.
Data Partnership: Vemco Group Provides Visitor Intelligence
Outlet Village Sofia will be built on a data-driven operational framework through a strategic partnership with Vemco Group, a specialist in retail analytics and visitor intelligence systems.
The collaboration establishes a unified data platform across the outlet village, enabling the collection and analysis of key performance indicators such as visitor numbers, store-level traffic distribution, dwell time, and conversion rates. The system is designed to provide both management and tenants with deeper insights into how the destination performs and how individual stores interact with overall visitor flows.
“What makes this collaboration meaningful is the ambition behind it,” says Joakim Scheibe, Business Developer at Vemco Group. “Outlet Village Sofia is treating data as a foundation, not an add-on.”
For Trinity Capital, the goal is to integrate reliable performance data into day-to-day operations from the outset. “For a project of this importance within our portfolio, data quality and reliability were never negotiable,” says Martin Dimov, Property Management Director at Trinity Capital.
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