A third wave of malls will come in Bulgaria in the next two years. In the next year in the country eight new malls will be open. These are: Mega MALL Lulin, Paradise center and Bulgaria MALL in Sofia, Galeria Burgas ans Strand in Burgas; Galeria Varna, MALL Pleven and Grand Plaza Rousse. The whole renting area of trade spaces will be 288 000 square meters. For example, the whole area of trade spaces of the malls open in the first wave – before the crysis and in the second wave – in 2010, is 560 000 square meters.
In 2012 in Sofia there will be 306 square meters of modern trade area per 1000 people. This ranks the city to the gighest level in Europe.
The MALL investors had a serious dilema: to start the building of the projects and to have hard negotiations with renters, to discount the renting rates, etc. on one side, or not to start the projects at all. The second decision would lead to huge financial losses. Now the investors look for fresh ideas fro the trade centers. For example Paradise Center in Sofia will suggest a lot of entertainment. Bowling and cinema already are old form of entertainment.
The rates for renting of trade space in the malls in Sofia are around 30 EUR per square meter, in the province they are between 5 and 18 EUR per square meter, depending on the area of the space and on which floor is located.