TIDMOCH

Orchid Developments Group Ltd

27 May 2011

27 May 2011

Orchid Developments Group Ltd.

("Orchid" or the "Company")

Grand Mall Celebrates its First Anniversary

Orchid Developments Group Ltd, the Bulgarian focused property developer and investor, announces that today the Grand Mall celebrates its first anniversary.

Over 100 well-established international and Bulgarian brands have opened in the shopping center, and nearly 40 global brands, which include Zara, Bershka, Stradivarius, Humanic, Deichmann, Intersport, Massimo Dutti, Mango and Carrefour, all of which entered the Varna market for the first time.

According to data collated by Orchid, the Grand Mall which has a net leasable area of 49,750 sq.m., has welcomed over 7.8 million visitors to the shopping center in its first year.

Guy Meyohas, Chief Executive Officer of Orchid, said:

"I am pleased that during the year since Grand Mall opened it has managed to establish itself as one of the favourite destinations for entertainment and shopping. We will continue to offer significant opportunities for events and entertainment for all ages and believe it will remain a favourite place for shopping, not only in Varna, but in the region as a whole."

Ends

 
 Contacts: 
 Orchid Developments 
  Guy Meyohas                           +35 92 981 9955 
 Shore Capital and Corporate Limited 
  Dru Danford / Stephane Auton          +44 20 7408 4090 
 MHP Communications 
  Reg Hoare / Tim McCall / Vicky 
  Watkins                               +44 20 3128 8100

Notes to Editors:

About Grand Mall and Orchid Development Group Ltd.:

Grand Mall Varna is Bulgaria's leading shopping centre, which is built in accordance with the highest international standards. Investment by Orchid Developments Group Ltd in the project exceeds 120 million euro and as at 31 December 2010, its net asset value is EUR36.6 million while EUR4.4 million of the Group's revenue for the year 2010 (EUR7.9 million), were from the rent and operation of the Grand Mall. This is the largest shopping centre in Varna with:

-- over 150,000 sq.m. total built up area

-- 49,750 sq.m. retail space

-- over 190 stores

-- over 1,700 parking places

Orchid Developments Group Ltd (OCH.L), which listed on the AIM market in June 2005, was established with the aim of generating value for shareholders by investing in real estate and leisure business opportunities initially in Bulgaria.

The company is active in all principal sub-sectors of the Bulgarian real estate and leisure markets and currently holds three residential and six commercial property developments in Sofia and Varna. Its principal investment is Grand Mall Varna, Bulgaria's leading shopping mall.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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