We are delighted to announce the commencement of construction on Bulgaria’s fourth Estrea Retail Park project by Park Lane Developments.
On June 9, 2026, Park Lane Developments, AG Capital’s commercial real estate platform, officially hosted a groundbreaking event in Sofia’s Nadezhda district. Developed as a partnership between Park Lane Developments, the Belgian fund Mitiska REIM, and the European Bank for Reconstruction and Development (EBRD), the project is scheduled for completion in mid-2027. Bulgaria’s leading Fantastico chain will serve as the project’s anchor supermarket.
Tanya Kosseva-Boshova, MRICS, Managing Partner at Park Lane Developments, welcomed Tomas Cifra and Nicole Bucur from Mitiska REIM, Christo Iliev, Founder and Chairman of AG Capital, Rumen Kostadinov, Mayor of the Vrabnitsa District and all guests to the groundbreaking ceremony.
In her opening address she pointed out that the district of Nadezhda has become one of Sofia’s neighborhoods with very strong development potential, featuring an active residential environment, good connectivity and a growing need for modern retail spaces and services close to home.
“With Estrea Park, our aim is to contribute precisely to this development by creating a convenient, accessible, and sustainable place to shop. This new project will enhance the quality of the urban environment and will deliver real added value to the residents of Nadezhda, Vrabnitsa, and the neighboring quarters”, said Tanya Kosseva-Boshova.
“Estrea Park Nadezhda represents another important step in our successful partnership between Mitiska REIM and Park Lane Developments,” commented Tomas Cifra, Managing Director at Mitiska REIM.
“By combining Mitiska REIM’s international experience in retail park development with Park Lane Developments’ deep understanding of the local market and proven capacity, we are uniquely bound for success. We firmly believe the Bulgarian market offers an excellent potential for modern, sustainable, and well-positioned retail projects that meet the evolving needs of both consumers and retailers”, he added.
Located at 81 Vladimir Zograf Street in the Nadezhda residential area, the upcoming Estrea Park is strategically positioned next to the newly expanded overpass, providing direct transit links to Lyulin, Ilinden, Vrabnitsa, and Nadezhda. The retail hub will feature over 13,000 sqm of total leasable area, a dedicated food court, and more than 340 parking spaces.
Serving as the project’s anchor retailer, the Bulgarian family-owned company Fantastico will construct a modern, 4,000 sqm supermarket on its own property. The store will feature over 20,000 high-quality products, 120 dedicated parking spaces, and a contemporary children’s playground. Additionally, the complex will host partner-managed commercial spaces providing essential services, including a pharmacy, an insurance broker, and a payment counter.
Estrea Park is being realized with the financial support of United Bulgarian Bank, with Mix-Construction serving as the main contractor. The architectural design was developed by Planning studio, led by Arch. Iliyan Iliev, while MMV Engineering oversees construction. Legal counsel is provided by Wolf Theiss Bulgaria, with Kinstellar Bulgaria advising Mitiska REIM.
Estrea Park Expands to Four Locations with Sustainability at its Core – Three in Sofia and One in Varna
Sustainability is a key pillar across all the Estrea Park developments, designed to meet the rigorous criteria for a BREEAM In-Use “Excellent” certification. To ensure an eco-friendly shopping experience, the development will feature landscaped parking areas and dedicated zones shaped by high-tree vegetation. All retail parks will also be equipped with electric vehicle (EV) charging stations and bicycle racks to support green mobility.
The opening of the first retail park under the Estrea Park brand is expected this autumn, taking place in the Hadzhi Dimitar residential area in Sofia. Located at 7 Rezbarska Street, the project will feature outlets with a total lettable area of 13,600 square meters and will provide over 250 parking spaces for visitors. The main retailer at Estrea Park Hadzhi Dimitar will be a Lidl supermarket.
Coming up also in the autumn of 2026 is the launch of construction on the third Estrea Park in the city of Varna, located on Asen Raztsvetnikov Street in the Vladislav Varnenchik district. Estrea Park Varna will feature over 10,000 square meters of retail space and more than 230 parking spaces, with Lidl Bulgaria serving as the key supermarket on the project.
In April 2026, Park Lane Developments and Mitiska REIM announced their latest project under the Estrea Park brand, located in the capital’s Lyulin residential district. This marks the second project for the investors where a Fantastico supermarket will be the main retailer on its own property.
AG Capital News
