EBRD Invests in Park Lane Developments’ partnership with Mitiska REIM to Build Retail Parks in Bulgaria

Image: Park Lane Developments

The European Bank for Reconstruction and Development (EBRD) has joined forces with Bulgarian company Park Lane Developments (part of AG Capital) and Belgian fund Mitiska REIM, which are developing retail parks across the country. The Bank will invest €50 million in the MEREP3 fund, which focuses on projects in Central and Eastern Europe.

In 2024, Park Lane Developments partnered with Mitiska REIM to develop 10 retail parks in Bulgaria. The company has already announced the start of its first two projects in Hadzhi Dimitar and Nadezhda districts of Sofia.

The retail park in Hadzhi Dimitar district is located at 7 Rezbarska Street and will feature 14,000 sqm of retail space. The key tenant in this park will be the supermarket chain Lidl. Construction is expected to begin in the first quarter of this year.

The project in Nadezhda district will offer their customers stores with a total retail area exceeding 13,000 sqm. The bulgarian supermarket chain Fantastico will be the main tenant, with a 4,000 sqm modern supermarket.

EBRD’s mission is to promote the transition to open, market-oriented economies and foster private sector and entrepreneurial initiatives. Through its investment in the partnership between Park Lane Developments and Mitiska REIM, the Bank aims to support the growth of green and sustainable retail real estate in Central and Eastern European markets.

Park Lane Developments has ambitious plans for the coming years, aiming to open at least 10 modern retail parks across the country. The projects are based on the concept of convenient shopping in densely populated urban areas with easy access, large free parking lots, and a variety of retailers offering a broad range of products and services. A key tenant of each park will be a large grocery store.

Source: Park Lane Developments