site.btaRetail Parks in Bulgaria Increase in Area by 50% in 2023

Retail parks are experiencing extremely rapid growth both in Bulgaria and throughout the Central and Eastern Europe region, and the market is heading towards saturation in the medium term. By the end of 2023, their volume in the region has increased by nearly 11% compared to 2022, with their total area reaching 8.35 million square metres. Although the operating areas in Bulgaria are a relatively small part of this volume. 511,000 sq. m, the growth of the market is significantly above the average in Central and Eastern Europe. In 2023, operating retail parks increased their area by more than 50%, shows data by the business real estate consulting company Cushman&Wakefield Forton.