August 28 (SeeNews) - UK-listed Orchid Developments on Thursday said it awarded a 85 million euro ($124.8 million) contract for the construction of a shopping mall in Bulgaria’s third-biggest city of Varna to a consortium of local Comfort and Israel-based AFCON Industries Group.
The consortium is led by Varna-based construction company Comfort, which is the main contractor of the 140 million euro project, Orchid said in a statement
Grand Mall Varna will have total built-up area of 190,000 square metres, which will also include office area. Construction works started in the end of 2007 and are scheduled to be completed by the end of 2010.
Orchid Developments, an international property developer focusing on Bulgaria, is listed on the Alternative Investment Market (AIM) of the London Stock Exchange. Orchid’s portfolio in Varna also includes a business centre and a residential compound. The company has also projects in the capital Sofia.
($ = 0.6769 euro)