Raiffeissen Provides a 29-Mln Euro Credit For The Construction Of Mall Of Pleven

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Raiffeissen Provides a 29-Mln Euro Credit For The Construction Of Mall Of Pleven

Raiffeissen Bank will provide a long-term 29 mln euro credit for the construction of Mall of Pleven. The loan will be secured by a mortgage on the land property.

The project developer is Mall of Pleven Jsc. Its main shareholders and investor is Aladin EOOD. In November Mall of Pleven was awarded a First Class Investor Certificate from The Bulgarian Investments Agency for its project to invest 80 mln leva (40.903 mln euros) in the construction of the shopping mall.

The commercial center will cover an area of 46,800 square meters, and will comprise three levels and two underground levels (parking lots). More than 17,800 square meters will be available for renting, the number of merchants is expected to be around 108.

The mall has to be completed by spring 2010.

Raiffeissen Bank Bulgaria is a leading corporate creditor with 10.85% market share on that segment, according to September 30 data.

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