Record-high price for real estate in Bulgaria as competition body approves South African purchase of Paradise Center mall

Written by on December 1, 2017 in Business - Comments Off on Record-high price for real estate in Bulgaria as competition body approves South African purchase of Paradise Center mall

Bulgaria’s Competition Protection Commission has approved the acquisition of Paradise Center mall in Sofia by South African fund NEPI Project Two, which is paying 252.9 million euro in the deal – the highest-ever price paid for real estate in Bulgaria.

NEPI Project Two is a subsidiary of NEPI Rockcastle pld, a commercial property investor and developer, listed on the Main Board of the Johannesburg Stock Exchange (JSE) and Euronext Amsterdam.

The signing of the deal to acquire Paradise Center mall was on September 21 2017 and approval from the Competition Protection Commission came on November 23, according to an announcement on the commission’s website.

In June 2017, the South African group acquired the Serdika Center mall in the Bulgarian capital for 207.4 million euro.

Market shares of shopping malls in Sofia. Source: Competition Protection Commission.

 

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