Serdika Center and Serdika Office together comprise the Serdika complex located in Sofia, Bulgaria, whilst Hansa is the legal owner of the land on which the Property is built.
Sofia is the capital of Bulgaria with over 1.32 million inhabitants, and the economic and cultural centre of Bulgaria. During the last couple of years, Bulgaria’s economy has shown robust growth, with GDP growth of 3.6% in 2015 and 3.3% in 2016. According to European Commission forecast data, growth is expected to be 2.9% and 2.8% for 2017 and 2018, respectively, compared to expected growth of 1.4% and 1.5% respectively in the European Union. The continued economic growth has an increasingly positive impact on the unemployment rate, which is expected to decrease to 6.4% in 2018.
Serdika Center is a modern shopping centre with a strong fashion-oriented tenant mix, targeting a customer group with above-average income, which, together with its excellent location (approximately 3 km southeast of the city centre), represent its competitive advantage. The catchment area of 379,000 inhabitants within 15 minutes includes residential districts with excellent transportation links (such as a tram line stopping in front of the centre).
The centre opened in 2010, has a Gross Lettable Area (GLA) of 51,468 m2 and is 99.3% let. It has a diverse tenant mix including numerous international tenants such as Adidas, Benetton, Bershka, Billa, Cropp, Converse, Deichmann, Desigual, Forever 21, H&M, House, Intersport, Massimo Dutti, New Yorker, Nike, Orsay, Pull&Bear, Reebok, Replay, Reserved, Sport Vision, Springfield, Stradivarius, Tally Weijl, Tom Tailor, Tommy Hilfiger, Timberland, US Polo Assn, Yves Rocher and Zara.
Serdika Office is a Class A office building opened in 2011, built on top of the shopping centre. It has a GLA of 28,488 m2, it is 98.6% occupied and includes multinational tenants such as Citibank, Coca Cola, Merck and Sutherland.