Market highlights
- The delivery of Markovo Tepe Mall in the end of October added another 20,500 sq.m. to the total stock of shopping centers in the country, reaching 770,000 sq.m. ;
- The overall vacancy rate showed a positive trend by decreasing to 17% compared to 19% in Q3 2016, a change of -0.5% in the capital and -4% in the other cities;
- Billa remains among the most active food retailers as the supermarket chain opened its 110th unit on the Bulgarian market;
- The financial difficulties experienced by Carrefour in the last quarters led to the exit of the supermarket chain from the Bulgarian market;
- As the retail market matures the focus of the currently operating assets will be on maintaining the most suitable tenant mix as well as the repositioning among customers;
- The Retail Sales Index measured by the National Statistical Institute increased by 2.9% y-o-y as of October 2016. The breakdown by economic activities shows that the retail sales of textile, clothing, footwear and leather goods was the best performing category on an yearly basis (+11%);
For further market highlights review MBL Retail Market Commentary Q4 2016:
http://www.mbl.bg/uploads/documents/projects/35/Retail_Bulgaria_Q4_2016.pdf
