TGM wins South Sofia Ring mall mandate
Hungarian-based TriGranit Management Corporation revealed that it‘s won the full property management mandate for South Sofia Ring Mall in a tender that it says featured serious competition.
The 69,000 sqm asset is a next generation project that will have a huge impact on the retail sector in Bulgaria‘s capital. It‘s placed along the city‘s newly extended ring road next to (and with connections to) the country‘s only IKEA store, which in itself says something of the perceived strength of the area. Known as the Malinova Dolina district, there are several high-end residential and office projects in the vicinity, while the Vitosha Mountain ski-lifts also neighbor the project.
With a gross built area of 172,000, the project represents a €120m investment. A residential project with 500 houses is also planned as part of the project. TriGranit Management has 26 projects under management, of which 10 were not developed by its mother company, TriGranit Group. The most recent assignment is part of a push by the company to offer its services to third parties. Of the 1.2 million square meters of space the company has under management, 52 percent is retail, while 32 percent is office space. The remainder is made up of cultural, sports, hotel and other types of facilities.
Sofia Ring Mall will feature over 200 shops, with a mix of fashion and sports stores, wellness facilities, an 11-screen cinema multiplex, and spacious and diverse outdoor and indoor food courts. (source: cijjournal.com)