Trinity Capital invests in Bulgaria's first outlet village

The project is part of Jumbo Plaza Retail Park, which opened in 2011 and currently attracts more than 5.8 million shoppers a year, with the number expected to grow to 8 million annually over the next two years, Kolev told SeeNews in an emailed statement on Wednesday without providing the size of the investment.

"We have started work on the expansion of Jumbo Plaza, which will be realised in several stages, ultimately operating over 85,000 sq m of retail space. With this investment, we will have the responsibility of managing the largest retail park in the country and the Balkans," Kolev explained. He added that Trinity Capital is currently in negotiations with a number of premium global brands, which will open the first mono-brand outlet stores in Bulgaria.

Outlet Village will have a gross leasable area (GLA) of over 7,600 sq m and 1,500 free parking spaces. Additional dining, relaxation and entertainment venues are planned.

According to Kolev, the outdoor outlet village is the second fastest-growing retail channel after the online sector, with 15 out of the 20 most successful outlet projects in Europe.

In 2023, Trinity Capital, in partnership with AP Capital, acquired Mega Mall in the Lyulin district of Sofia. There, the owners have begun implementing an investment programme aiming to introduce new retail units and renovate the common areas, the COO said. The company is interested in acquiring other existing projects, but its main focus will remain on investments in retail parks, he went on to say.

"Investors in commercial spaces in Bulgaria have still been spared from the negative global trends in the sector. The majority of our current and potential partners continue with an expansion strategy in the country," Kolev concluded.

Founded in 2019, Trinity Capital acquired Jumbo Plaza, which has a commercial area of 30,000 sq m, in 2020. The company owns three other retail parks - a 12,000 sq m site in Yambol, a 6,000 sq m location in Haskovo, and the 6,000 sq m G-Center Plovdiv retail park, its website shows.