PANORAMA MALL
Relevant property and Asset Management initiatives
Revived successfully one of the biggest projects outside of Sofia, whose development was put on hold in 2012.
PANORAMA MALL
Relevant property and Asset Management initiatives
Revived successfully one of the biggest projects outside of Sofia, whose development was put on hold in 2012.
01
THE OPPORTUNITY
- A compromised image and reputation of the shopping center among tenants and customers
- The asset was challenged with pressures from the market due to no successful shopping center openings of outside of Sofia since before the 2009 crisis
- Outdated floor layout
02
THE SOLUTION
- We rebranded the project
- We developed completely new and up to date tenant mix, which suited local and regional profile customers
- We updated the layout and secured an attractive premises for international and national retailers
- We maintained a very intensive leasing process, including focused marketing and PR for retailers
- We recruited and trained local center management staff
- We developed preferential offers to preferred local retailers
- We maintained speed in execution to keep PR momentum and build new status of the project
03
THE RESULTS
- We leased out around 85% of the shopping center within a year and carried out a successful opening of the shopping center
- Attracted several international brands, which opened their first stores in the region, i.e. HM, Sport Vision, Deichmann and others
- Attracted target customers within the region and achieved high footfall and turnover results
- The shopping center became the leading and primary retail location in the city and in the region
- This was the first successful case of a shopping scheme that opened outside Sofia after the crisis changing the market perspective (both tenants, investors for new developments for the next couple of years)
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