An extremely important year for the oldest shopping center in Bulgaria - the first year after the rebranding. Investors are convinced that with good planning, e-commerce will not kill the classic brick-and-mortar retail
The shopping center was completely renovated and rebranded by its owner - Revetas Capital (Revetas) that acquired the first mall in Sofia via Revetas Fund I in 2014. The investors’ concept was to refurbish the project and make it part of its Park Center trading platform. Up to now, a multi-millionth investment has been made in the shopping center.
"One year after the massive renovation and re-opening, Park Center established itself as "The Little Gem of Sofia" - a favorite place for meeting friends and spending time with the family - because of its convenient location and close proximity to the park - said Monica Grigorova, Property Manager of the project. - Over the last 12 months, we have opened more than 20 new concepts that have been precisely chosen to meet the demands of people, who are living and working in the area - in fact, these are our loyal customers. Within a few months, we expect another dozen of new stores to open."
The most anticipated in the moment is the opening of Billa supermarket at the end of October. With the new grocery store, the look of the floor -2 and the entire mall will change completely. Billa's surrounding shops will be concepts that have not been present on this territory before. The shops will enrich the tenants mix and respond even more fully to the expectations of the visitors.
"Online commerce will not kill the traditional brick-and-mortar retail business," said Dr. Stephan Meyer-Heinisch, part of the Revetas’ Industry board and Chairman of the Austrian Retail Association. - We invest a lot in Park Center - entertainment, eating concepts, cafés and bars - both in the park and in the city center at the same time. Yes, e-commerce is becoming more and more stable, but there are still things people cannot do online. You cannot eat online! "
"For me, as a Bulgarian, it is a great pleasure to say that our Park Center project has been such a great success," said Kiril Kuturov, General Counsel of Revetas. - We have invested in many successful projects in Europe, but this one in Bulgaria is special for me, because I have lived and worked abroad for many years. Our team here is one of the largest and additionally to Park Center, we are currently investing in a second phase of the Sofia Airport Center (SAC), a complex of offices and logistic buildings. "