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- Outdated floor layout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)
