MAS Real Estate, a commercial property investor, developer and operator listed in both Johannesburg and Luxembourg, announced the acquisition of two shopping malls in Bulgaria, for €62 million. The malls have been acquired from Globe Trade Centre and the European Bank for Reconstruction and Development. The Galleria Burgas Mall and the Galleria Stara Zagora Mall and are located in the Bulgarian cities of Burgas and Stara Zagora, respectively.
“This transaction is in line with our plans to expand into markets with growing economies across Central and Eastern Europe by acquiring accretive income-generating assets with real upside potential through our joint venture with Prime Kapital. The transaction increases our income-generating property portfolio by 15,3% from €406.4 million to €468.4 million,” says Lukas Nakos, CEO of MAS.
Galleria Burgas is the dominant shopping centre in Burgas, the 4th largest Bulgarian city with a population of 200,000. The mall benefits from a total catchment area of approximately 480,000 people within 60 minutes’ drive, as well as a significant number of tourists during the summer holiday season, the city being in the vicinity of the most popular Black Sea resorts on the Bulgarian coast.
Photo: galleriaburgas.bg
“Galleria Burgas has a broad tenant mix consisting of 115 tenants including primarily international fashion and entertainment brands (including Bershka, CCC, Cinema City, Deichmann, H&M, Humanic, Ikea, Intersport, LC Waikiki, Lee Cooper, Lidl, Massimo Dutti, Oysho, Terranova and Zara). Due to strong performance and tenant demand, a significant centre extension is being considered with the intention to enhance the earnings from this asset,” commented Nakos.
Galleria Stara Zagora is the dominant shopping centre in Stara Zagora, the 6th largest Bulgarian city. The mall benefits from a total catchment of approximately 400,000 people within 45 minutes’ drive. The tenant mix is focused primarily on fashion and entertainment and consists of 71 tenants (which includes brands such as Bershka, Cinema City, CCC, Deichmann, DM, H&M, Intersport, Kenvelo, LC Waikiki, New Yorker, Nike, Pull&Bear and Stradivarius).
“Galleria Stara Zagora is in need of refurbishment and offers value enhancing opportunities through operational streamlining and commercial layout improvement. With our asset management expertise we have formulated an approach to improve the operational capacity of the mall with the intention to enhance the net income earned from the asset,” says Nakos.
MAS Real Estate Inc. is a commercial property investor, developer and operator that is listed on the main board of the Johannesburg Stock Exchange and the Euro-MTF market of the Bourse de Luxembourg. MAS has a strategic alliance with Prime Kapital, led by Martin Slabbert and Victor Semionov, former directors of JSE-listed New Europe Property Investments (NEPI).
MAS' effective economic interest in the acquisition is the equivalent of an 80% direct participation in the performance of the malls and a 20% participation at the weighted average cost of funding achieved by the acquisition in line with the previously announced co-investment agreement with Prime Kapital.
UDH, one of Poland’s largest distributors of premium imported beers, has leased approximately 1,400 sq m of modern warehouse and office space at the Park Rysy Kraków distribution centre. The tenant, which has chosen to expand its operations in southern Poland, was once again represented by AXI IMMO.
Golden Star Estate has secured a long-term lease agreement with global technology solutions and consulting provider C&F for nearly 1,900 sqm of office space at the Konstruktorska Business Center. Following the transaction, the property, located in Warsaw’s Mokotów business district, is now almost fully leased. The Polish branch of C&F will officially relocate to the facility at the beginning of 2027.
Natland Group has committed to its long-term presence at Prague-based Rohan Business Center through a lease extension covering 2,004 sqm of office space, together with storage facilities and dedicated parking spaces, in a deal brokered by iO Partners.
New appointments
Indotek Group has announced the appointment of Diederik Bakker as Group Chief Investment Officer and Group Head of Asset Management. In his new role, the Dutch real estate investment professional will gradually assume responsibility for the company's ITAM (investment, transaction, and asset management) activities across 12 European countries, supporting the next phase of Indotek Group’s growth. His focus includes facilitating sound investment decisions across Europe and developing a group-level portfolio management strategy that combines local market knowledge with international asset management know-how.
Peakside Capital Advisors has appointed Bogi Gabrovic to advise the board and support its investment and acquisition activities in Poland. Gabrovic brings more than 25 years of CEE real estate experience to the role, having previously held senior executive positions at CTP, Golub & Company, and White Star Real Estate, where she managed transactions exceeding €2 billion.
Katarína Brydone, Jana Vlková and Vendula Maršová have been appointed as the first Equity Partners of Colliers’ Czech business. Brydone brings more than 20 years of experience in international real estate. Vlková has more than 25 years of experience in commercial real estate. Maršová, Partner and Head of Valuation and Advisory Services, brings more than 16 years of experience in real estate valuation and advisory.
Bucharest's residential market recovered much of the ground lost after a weak start to 2026, ending the first half with apartment transactions down just 2% year-on-year, according to Colliers. Developers are also accelerating preparations for new projects, with the net floor area authorised for residential buildings in Bucharest increasing 3.6-fold in the first five months — the strongest pace in five years. Nationwide, however, apartment sales fell 9%, reflecting continued caution amid inflation, high financing costs and pressure on real incomes. Trends varied across regional cities: Cluj-Napoca recorded a 16% fall in transactions and Iași dropped 11%, while Timișoara posted a modest 3% increase.
Apsys is opening its latest project this summer — the revitalised Hala Targowa in Gdańsk, a 19th-century market hall being repositioned as a food and entertainment destination. The group has been building expertise in culinary-leisure formats across Poland and France for 30 years, with projects including Food Fyrtel at Posnania in Poznań and Boom Boom Villette in Paris — the first food & leisure concept of its kind in France, spanning 25,000 sqm at the Cité des Sciences et de l'Industrie in the Parc de la Villette.
Novarion Hubix EF TLH, the project company set up to develop phases E and F of The Lake Home in Sibiu, has secured €9.5 million in financing from UniCredit Bank. The funds will support the construction of blocks E and F within the mixed-use residential development on the shores of Lake Binder. The project is being developed in partnership by Novarion, acting as capital partner and Development Manager, and Hubix, serving as equity partner and Investment Manager. Construction will be carried out by Novarion DMX Construction, a Sibiu-based general contractor with over 11 years of experience.
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