For 20 years, Georgi Gergov has leased one of the emblematic not only Sofia, but also Bulgarian buildings – TSUM. Museums of Egyptian culture and the Bulgarian rose, a shopping area, restaurants and cafes and a 5-star hotel. This will be converted to TSUM, whose contract with the new tenant begins on October 1, 2024. The price of the transaction remains a trade secret, as well as details of how it was concluded.
The museum part will be located on level -1, where there is currently a food store of a well-known chain. She is already moving out of the site. From the first to the third floor there will be a commercial part, offices, cafes, restaurants. An object from the commercial part will cost small and medium-sized companies 1000 EUR per month. The rent per square meter will vary between 50 and 70 EUR per month. Ag has taken up the leasing. “Appearance“.
On the last 2 floors there will be a 5-star hotel with a SPA. According to the plan, it will be put into operation in 2027 at the latest.
On the top floor, under the roof, there will be a multi-functional hall, a play corner, rooms for holding conferences and exhibitions, open offices for the work of technological nomads.
CUM is an architectural monument and therefore the facade of the building will not be changed in any way. As for the interior space, the reconstruction will be carried out in two stages and also does not foresee a drastic change. The first must be finalized within 8 months, and the second – up to 3 years at most. The hotel and SPA area will take the most time. The investment of the change is not mentioned, but it will not be large in view of the fact that the exterior and interior will not be changed drastically.
There is a lot of emphasis on the ecological and green nature of the building. Therefore, the investor will turn to Dutch specialists.
„We want to create a green space and have green partners to participate in the project and present services that correspond to the needs of the XXI century. This public lives in a time of climate change. We would like to create a hub that adds value, unique eco systems. A hub for the exchange of culture, for human relationships, a space for families and children," said Khalid Emara, former Minister of Foreign Affairs of Egypt and the country's ambassador to our country.
„We would like to give an opportunity to present culinary achievements, to present different types of food related to the two countries. There is a lot in common between our cuisines, thanks to the shared history. There will be an opportunity to hold exhibitions, conferences, seminars. The two countries should start on a new path where the two regions can work together”, adds Emara.
You can see detailed statistics on average property prices in Bulgaria by cities and neighborhoods HERE
