The Strand mall in Burgas was put on sale for a third time, but the tender has expired once again without any candidates submitting bids. The shopping center was first put on the market in October 2015 for €17m, while the second attempt was made at a reduced sales price: €13.5m. Almost 60,000 sqm, the shopping center was built on a 29,114 sqm plot by ZBS in what was its first and only project in Bulgaria. Two years of construction work began in 2011 at a cost of €40m, money that came from a mix of equity and a loan from the Corporate Commercial Bank. In 2014, the bank collapsed and the mall stop working.
The Municipality of Burgas requested the sale of the project because of its unpaid local taxes. A fourth attempt to sell the property will be made soon.
