The Biggest European Retail Chain Enters The Bulgarian Market

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The biggest retail chain in Europe and the second biggest in the world – the French Carrefour
announced the start of its project Carrefour Tsarigradsko Mall in Sofia.

The company has more than 12,000 shops covering a total area of 1,500,000 sqm in 30 countries across the globe.

Turnover in the Balkan region amounts to more than 2 mln euros. The company's positions are strongest on the markets of Greece and Cyprus, where it is the number 1 retailer.

Carrefour is planning construction of 20 hypermarkets in different regions in Bulgaria. The company will invest some 200 mln euros in these projects, due to be completed in five to seven years.

The first hypermarket will open doors at the end of 2008 in Burgas. The company also plans to build shopping malls in Sofia, Varna, Plovdiv, Stara Zagora and Ruse.

Construction of Carrefour Tsarigradsko Mall has already started and will be completed in H2 of 2009. The mall with a total-built up area of 64,000 sqm will be the biggest on the Balkan peninsula.

It will comprise six levels, the first three of which parking lots and garages. Level 4 and 5 will be shopping area, and level 6 will be the entertainment area, with several day care places.

More than 60% of the commercial area has already been rented. The shops will offer more than 100,000 items, with an emphasis on low prices, environmental friendly products and high-quality.

The French company will rely on local manufacturers, low profit margin and goods appealing to a lot of customers.

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