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New tenants at Grand Mall

Date : 02/13/2012 @ 2:00AM
Source : RNS Non regulatory
Stock : Orchid Dev (OCH)
Quote : 1.875  0.0 (0.00%) @ 12:00AM
Orchid Developments share price Chart

New tenants at Grand Mall

TIDMOCH

Orchid Developments Group Ltd

13 February 2012

13 February 2012

Orchid Developments Group Ltd.

("Orchid" or the "Group")

Four new tenants at the Grand Mall Varna

Orchid Developments Group Ltd, the Bulgarian focused property developer and investor, today announces that it has secured four new tenancy agreements at the Grand Mall Varna, an encouraging start to its 2012 marketing programme.

The tenants include a mix of international and local brands:

   --     Amigo, a Spanish kids fashion chain; 
   --     Swissiea, a franchisee of Geox, the Italian fashion shoe brand; 
   --     Bushman, an international outdoor and lifestyle chain; and 
   --     L Collection, a local women's fashion retailer. 

These new names join international brands Bershka, Carrefour, H&M, McDonalds, Mango, Nike and Zara to confirm the Grand Mall's leading status in the Varna lifestyle and retail environment.

The Grand Mall Varna now has in excess of 77.2% (38,300 sqm) of its total area leased. The four new tenants are due to start trading by the end of April, further enhancing the retail experience for the 20,000 people who visit the mall every day.

Guy Meyohas, Chief Executive Officer of Orchid, said:

"We continue to make good progress letting the remaining space at the Grand Mall. We have secured four new fashion retailers who are complemented by the extensive dining, leisure and entertainment the mall has to offer."

Ends

 
 Contacts: 
 Orchid Developments                    www.orchid-dev.com 
  Guy Meyohas                              +35 92 981 9955 
 Shore Capital and Corporate Limited 
  Bidhi Bhoma / Toby Gibbs                +44 20 7408 4090 
 MHP Communications 
  Reg Hoare / Tim McCall / Vicky 
  Watkins                                 +44 20 3128 8100 
 

Notes to Editors:

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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