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Raiffeisen Lends EUR 44 M for biggest Bulgarian Mall

On the photo - Arndale Center, Manchester - one project of "Chapman Taylor", who will made the Mall Gallery, the biggest mall in Bulgaria

The Bulgarian arm of Austrian banking group Reiffeisen said on Tuesday it would extend a EUR 44 M loan for the construction of a mall in Bulgaria's second largest city, Plovdiv.

Galeria Plovdiv will be one of the biggest constructions of its kind in Bulgaria, with its 45 000 square meters of area for lease, and the first one in the city.

The loan will have a seven-year maturity, the bank said.

The mall will have nearly 200 stores, restaurants, coffee shops and a cinema, and would be built in the eastern part of the city, in its Trakiya district.

The project's developers are local construction company Sienit Holding, Italy's Ferretti International and investment fund European Convergence Development Capital, managed by Charlemagne Capital.