Bulgarian shopping center expects up to 25 percent sales from Romanian tourists

Newsroom 06/12/2010 | 14:47

A new Bulgarian shopping center, Varna Towers, has announced that it expects to have an important number of Romanians as visitors, estimated to bring between 10 and 25 percent of the location’s income. The total investment in the location is of EUR 50 million, 25 percent resulting from two Bulgarian businessmen, who also own the project, and 75 percent from a bank loan.

“The idea behind Varna Towers was to combine various segments in one place – business, tourism, services, commerce and entertainment”, stated Marin Zgurev, one of the project’s investors. The location’s management relies on Romanian tourists’ arrival at the location, which will peak during summer and during the holidays, say representatives.

The shopping center’s main points of attraction lie in Bulgaria’s lower prices, especially on what concerns food products, adds Antonio Buhtiyarov, the second investor in the project. Over one million tourists visit Bulgaria yearly, not only during the summer holiday, but with the occasion of weekends and on various religious celebrations. For example, 20,000 Romanians spent the Easter holidays in Bulgaria, shows date from the company officials.

The shopping, entertainment and business center has a total surface of 83,000 sqm, 30,000 of which are destined to commercial and services, the rest being taken up by offices.