Retail boost for bulgaria

Bulgaria’s economy is set for a huge cash injection from an unlikely source…

The German store chain "Plus", which is part of Tangelmann Group, is going to invest millions euros into its projects in Bulgaria for the 2008-2011 period, with the aim of developing a chain of 150 commercial facilities all over the country. A representative of the German company announced: "We are planning to construct our logistics center close to the capital of Sofia during the first quarter of 2009, and to open 30 stores in the whole country at the same time",

The main players on Bulgaria's retail market are currently the chains "Fantastico", "Familia", "Evropa", "CBA", "Piccadilly", and "345", as well as the global chain stores Metro, Kaufland, Billa and HIT. The German discounter chain Lidl is expected to enter the Bulgarian market shortly.

According to data from Address real estate company, The average price paid for residential properties across Bulgaria stood at EUR 737/m2 in 2007 compared to EUR 624/m2 in 2006. Sofia, which boasts the highest salaries in the country, benefited from the real estate boom and recorded the highest rise in prices last year - 25%, reaching an average price of EUR 835/m2.