November 28 (SeeNews) - Bulgarian entrepreneur Marian Kolev, majority owner of toy retailer Hippoland, is investing in the construction of a new retail park in the northeastern city of Dobrich, the local municipality said.
The retail park will occupy an area of 37,000 sq m at the location of the city's former children's shoe factory, with premises to take up a total area of 17,000 sq m, Dobrich municipality said in a statement last week after the ground-breaking event.
The retail park, which is expected to open in September or October 2023, will command an investment of at least 15 million euro ($15.7 million), state news agency BTA quoted Kolev as saying.
According to him, the retail park will comprise over 30 stores and a parking lot for 440 cars, while solar photovoltaic panels will be installed on the roofs of all the buildings.
Over the next two years, Hippoland intends to open new stores mainly in retail parks in a move away from locations in shopping malls, potentially investing in the construction of one or two own retails parks, Kolev told local media in December 2021.
The toy retailer has 26 stores across Bulgaria, according to its website.
($ = 0.954739 euro)