Bulgarian investor Sterling Retail will develop a 3.5 million - 4.0 million euro ($4.7 million - $5.37 million) shopping centre in the seaside city of Burgas, whose anchor tenant will be sporting goods retailer Decathlon.
The construction of the facility will start in the spring, Capital Daily reported. The project includes shopping outlets outside the main building and playgrounds.
Sterling Retail, a subsidiary of Luxemburg-based Sterling Properties, is currently negotiating bank loans to finance the project, Capital Daily said.
Decathlon opened its first store in Bulgaria in the capital city of Sofia earlier this year. The retailer has signed a lease with Sterling Properties for another store in the Bulgarian capital, in a shopping mall which is still under construction. Decathlon plans to open outlets in the four biggest cities in the country, Sofia, Plovdiv, Varna, and Burgas.