TIDMOCH

Orchid Developments Group Ltd

19 May 2011

19 May 2011

Orchid Developments Group Ltd.

("Orchid" or the "Company")

Two more new tenants secured at Grand Mall Varna

Orchid Developments Group Ltd, the Bulgarian focused property developer and investor, today announces that it has secured two new tenancy agreements at Grand Mall Varna, to home furnishings store Fabrizia Accessories and fashion retailer Ricardo Barrera.

Fabrizia Accessories and fashion retailer Ricardo Barrera are the latest retailers to sign tenancy agreements at Grand Mall Varna, which is already home to international brands such as Berksha, Carrefour, Mango, Nike and Zara. Both the new tenants will open their stores in June and this brings the current leased area to slightly over 71% (35,390 sqm).

Guy Meyohas, Chief Executive Officer of Orchid, said:

"Having recently secured agreements with iCentre and Mango, we are pleased to have secured these two further retailers at the Grand Mall Varna. Management are continuing to focus on reducing portfolio vacancies."

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

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