Plovdiv’s retail stock has fallen significantly as it now has just one operating shopping center – Mall Plovdiv. Forton / Cushman & Wakefield reports that following a change of ownership at Galerie Plovdiv, that shopping center was closed for renovations. A new development, Markovo Tepe Mall, is scheduled for delivery in the fall of 2016. The development of that center had been put on hold until the center and a loan connected to the asset was sold.
As it stands now, however, Plovdiv’s retail supply per capita is the lowest in the country, with just 60 sqm per 1,000 residents now serving the city. The country’s average supply ratio is now just 99 sqm per 1,000 residents. At 279 sqm per 1,000 residents, Sofia has fourth highest level after Stara Zagora, Burgas and Gabrovo. However, the downturn in supply should only be temporary while the restructuring is in progress for some projects.
