Another surge in tenants at the Grand Mall Varna
July 28 2011 - 2:01AM
RNS Non-Regulatory
TIDMOCH
Orchid Developments Group Ltd
28 July 2011
28 July 2011
Orchid Developments Group Ltd.
("Orchid" or the "Group")
Another surge in tenants at the Grand Mall Varna
Orchid Developments Group Ltd, the Bulgarian focused property
developer and investor, today announces that it has secured seven
new tenancy agreements at the Grand Mall Varna, to a host of new
names including international food retailer McDonalds.
World famous fast food restaurant chain McDonalds, in addition
to fashion retailers Accent, DeVib, Hot Spot, Perfections, Scandal
and beauty salon Lia Belle are the latest retailers to sign tenancy
agreements at Grand Mall Varna. These new names join international
brands Bershka, Carrefour, Mango, Nike and Zara to make the Grand
Mall a lifestyle destination and a new metropolitan centre for
Varna.
The Grand Mall Varna now has in excess of 71.5% (35,532 sqm) of
the total area leased. All seven new tenants opened their stores to
customers in July, significantly enhancing the retail experience
for the 20,000 people who visit the mall every day.
As announced on 21 April 2011, the Group recently completed the
adjusted Grand Mall Varna credit facility agreement with the
European banking consortium, securing a strong platform for
growth.
Guy Meyohas, Chief Executive Officer of Orchid, said:
"We are excited by the progress made since the mall opened last
year and the positive impact it has had on the area. Over the last
six months we have secured a number of international retailers at
the Grand Mall Varna who are complemented by the extensive dining,
leisure and entertainment the mall has to offer. We remain
committed to ensuring a superior experience for customers and a
return on investment for our shareholders, therefore management
continues to focus on reducing the Grand Mall vacancies and
successfully completing the Group's development projects."
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:
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
NRAFMGZNKNMGMZM
Orchid Developments (LSE:OCH)
Historical Stock Chart
From Mar 2024 to Apr 2024
Orchid Developments (LSE:OCH)
Historical Stock Chart
From Apr 2023 to Apr 2024