On May 19th, a groundbreaking ceremony was held in the Hadzhi Dimitar district for Estrea Park, a new retail development expected to open in mid-2026.
Estrea Park is a joint project between Bulgarian company Park Lane Developments, Belgian fund Mitiska REIM, and the European Bank for Reconstruction and Development (EBRD). The project is supported by United Bulgarian Bank, and the general contractor is Cordeel Bulgaria.
“In partnership with Mitiska REIM, we are developing a retail park that meets the highest international standards – with a welcoming, aesthetic environment and all the conveniences for consumers. Our projects follow the ‘15-minute city’ concept – the idea that people should be able to fulfill all their daily needs within a 15-minute walk or drive,” said Tanya Kosseva-Boshova, Managing Partner at Park Lane Developments.
Tomas Cifra, Managing Director Romania, Czech Republic, Slovakia & Bulgaria, Partner at Mitiska REIM, highlighted the market potential in Bulgaria: “The Bulgarian market offers significant opportunities in the retail park sector – consumer incomes are rising, and retailers are seeking modern and sustainable retail spaces that meet both this demand and expectations for convenience. Together with our partners from Park Lane Developments, we plan to develop 10 retail parks in the country under the Estrea Park brand.”
Estrea Park will be located at 7 Rezbarska Street, in the Hadzhi Dimitar neighborhood, right next to Kaufland supermarket, and will feature a total leasable area of over 14,000 square meters and more than 300 parking spaces. According to research by GfK Bulgaria, over 243,000 people in more than 107,000 households live within a 10-minute drive of the park.
The key tenant of the retail park is Lidl, Bulgaria’s largest FMCG retailer. Visitors will be able to shop at more than 20 stores offering a wide range of goods and services, including clothing and accessories, footwear, home goods, electronics and appliances, drugstore products, a pet shop, pharmacy, fitness center, food court, and more.
Estrea Park is being built with a strong focus on environmental sustainability. The investors aim to certify the project under the BREEAM “Excellent” standard for buildings in use. The parking areas will be landscaped, and plans include tree plantings, EV charging stations, and bicycle stands.
The project was designed by architectural studio Planning, led by architect Iliyan Iliev, with construction supervision by MMV Engineering. Wolf Theiss Bulgaria is the legal advisor for the project, while Kinstellar Bulgaria advises Mitiska REIM.
In October last year, Park Lane Developments and Mitiska REIM also announced the acquisition of a plot in Sofia’s Nadezhda district, where they plan to build a second retail park offering over 13,000 sq.m. of leasable space. The food anchor of the project will be Fantastico supermarket, which will occupy its own site of more than 12,600 sq.m. Construction of Estrea Park in Nadezhda is expected to begin at the end of 2025.