ACROSS: MR. NACHKOV, OUTLET VILLAGE SOFIA IS A PIONEERING PROJECT FOR BULGARIA. WHAT MAKES ITS LOCATION AND CONCEPT UNIQUE?
IVAN NACHKOV: We The project is strategically located at the entrance to Sofia, right at the junction of one of Bulgaria’s two main highways. This means we can capture not only international travelers passing through the capital, but also domestic tourists traveling across the country. It guarantees a steady and diverse flow of shoppers. Another key factor is that Outlet Village Sofia will be developed side by side with XOPark Sofia, the largest retail park in the Balkans. Together, they will create a synergistic destination that covers the full spectrum of consumer demand, from everyday shopping needs to premium outlet fashion. We see this as a robust retail ecosystem.
Ivan Nachkov
COO of Trinity Capital
ACROSS: CONSTRUCTION OFFICIALLY BEGAN IN OCTOBER. HOW IS THE PROJECT PROGRESSING, AND WHAT MILESTONES CAN WE EXPECT?
NACHKOV: We launched construction with a groundbreaking ceremony on October 9. Everything is proceeding according to plan. Tenant handover is scheduled for the third quarter of 2026, and we are preparing for a grand opening in November 2026.
PROJECT SNAPSHOT
- Project: OUTLET VILLAGE SOFIA – Bulgaria’s first open-type outlet village
- Investor: Trinity Capital
- Construction start: Q3 2025
- Tenant Handover: Q3 2026
- Grand Opening: Q4 2026
- Total Area: 8,500 sq m, including second-floor dining
- Shops: 40
- Restaurant: 1,200 sq m premium family dining
- Parking spaces: 1,800
ACROSS: DURING THE DESIGN PHASE, YOU MADE SOME CHANGES. COULD YOU TELL US MORE ABOUT THEM?
NACHKOV: Yes, we added a second floor dedicated entirely to dining. The highlight will be a 1,200 sq m family restaurant featuring a large terrace and an openable skylight. Our idea is to offer a premium dining experience that feels like a natural extension of shopping, not an afterthought. Today’s consumers expect more than just stores; they are looking for comfort, leisure, and quality time with family and friends.
ACROSS: BULGARIA HAS NOT YET HAD AN OPEN-AIR OUTLET VILLAGE. HOW HAVE BRANDS REACTED TO THIS NEW CONCEPT?
NACHKOV: The response has been overwhelmingly positive. Many of the leading international brands see this as a pioneering step that will raise the standard for outlet shopping in the region. Of course, a few companies are still cautious, mainly because they have lower sales in our market. But I am pleased to say that all the top-performing European brands we targeted—either directly or through their Bulgarian partners—will be part of Outlet Village Sofia.
Looking ahead, we anticipate that once we demonstrate strong performance in the first two to three years, additional brands will want to join. We have already planned an expansion of about 2,000 sq m to accommodate that demand.
ACROSS: HOW DO YOU ASSESS THE MARKET POTENTIAL FOR OUTLETS IN BULGARIA?
NACHKOV: We believe the Bulgarian market is ready and mature enough for such a project. Shoppers here are not only seeking attractive prices, but also memorable experiences. They want a mix of quality, comfort, and leisure alongside retail. Outlet Village Sofia will deliver precisely that.
ACROSS: MS. PARVANOVA, TURNING TO YOU: LESS THAN A YEAR AFTER LAUNCHING THE PROJECT AT MAPIC 2024, YOU ARE ALMOST 70% LEASED. HOW DID YOU ACHIEVE SUCH MOMENTUM?
SIMONA PARVANOVA: It comes down to two things: strong demand from international brands that were waiting for the right outlet platform in Bulgaria, and our proven track record as developers of successful retail schemes.
We were very strategic in approaching brands. By MAPIC 2024, we had already built trust, and now we are finalizing a mix that balances global names with local leaders. Brands like Boss, Hugo, Nike, Under Armour, Levi’s, Samsonite, Puma, Skechers, Timberland, The North Face, and many others are confirmed. At the same time, we are very proud to include Bulgarian fashion leaders such as Teodor and Opticlasa.
Simona Parvanova
Director of Leasing & Marketing at Trinity Capital
ACROSS: CAN YOU SHARE MORE ABOUT THE RETAIL MIX AND CUSTOMER EXPERIENCE?
PARVANOVA: Absolutely. The outlet village will feature around 40 stores with a strong focus on fashion, sportswear, accessories, and home products. But we’re also making food and leisure a real highlight. The second floor will feature a lounge bar, a café, a patisserie, and, of course, the family restaurant.
This is not just about shopping bags; it’s about creating a destination where people will want to spend the entire day.
ACROSS: LOOKING AHEAD TO THE OPENING IN 2026, WHAT DO YOU SEE AS THE MAIN CHALLENGES AND OPPORTUNITIES?
PARVANOVA: The challenge is to maintain strong momentum and ensure we complete leasing with top-performing brands. The opportunity, on the other hand, is enormous: Outlet Village Sofia will be the first of its kind in Bulgaria, filling a real gap in the market. It will also benefit from synergies with XOPark Sofia, which means cross-visitation and a wider audience.
ACROSS: MR. NACHKOV, FINALLY, COULD YOU PLACE OUTLET VILLAGE SOFIA IN THE CONTEXT OF TRINITY CAPITAL’S BROADER PORTFOLIO?
NACHKOV: Certainly. Our portfolio is expanding rapidly and will exceed 250,000 square meters of GLA by 2028. It includes four operational retail parks under the XOPark brand, with four more in the pipeline; two established shopping centers in Sofia, West Mall and Park Center Sofia; and, with Outlet Village Sofia, Bulgaria’s first genuine outlet concept.
We are also diversifying beyond large-scale retail, holding an equity stake in MiniMart Convenience Stores, one of the fastest-growing companies in the country. This combination of large projects and agile formats strengthens our position in the market.
Credit for all images: Trinity Capital
