Cinema city, a movie theaters chain that has a real estate business in Bulgaria, has signed a contract to sell two mall projects to Israeli Israel Theaters. The deal is valued at EUR 85 million and concerns the Ìàll of Ruse and Mall of Stara Zagora projects.

According to the seller`s preliminary plans it should be completed this year. Cinema city will get EUR 70 million when the deal is closed and the remaining EUR 15 million will be paid nine months after the opening of Ìàll of Rousse but no later than eighteen.

Both projects were announced two years ago. The construction of the Ìàll of Ruse is at an advanced stage while the one in Stara Zagora is still on the drawing board.

Combined the malls cover 112,000 square metres, of which commercial surface takes 58,000 square metres.

This News is listed at news.Guide-Bulgaria.com

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