Plaza Center, an investment unit in Central and Eastern Europe announced competition of its first deal in Bulgaria – a construction of a shopping mall in the tow of Shumen, Europa-re.com reports.

The deal's value stands at more than 38 mln euros. It includes not only the construction of a shopping mall, but also entertainment facilities, which is the largest project of that kind in the region of Shumen and in Northeastern Bulgaria.

Total built-up area will be 18,000 square meters, which includes commercial areas for rent and a car park for 600 vehicles. Investors expect the center will open doors in 2009.

Plaza Centers is coming to Bulgaria after already developing projects in neighboring Serbia and Romania. The company, representing the Israeli Elbit Imaging, has properties in five Romanian and two Serbian cities.