Bulgaria: Kamenitza sells land plot that used to be the site of its Plovdiv brewery

Bulgarian brewer Kamenitza, part of U.S.-based Molson Coors Brewing Company, said on August 31 it has sold 30,500 sq m of land in the central part of Plovdiv city to two local companies which plan to develop a mixed-use construction project there, SeeNews reported.

The two firms, SI Investment and SI Development, plan to build an urban development that will comprise office and residential areas, a hotel, sports centre and retail outlets on the purchased site, Kamenitza said in a statement without disclosing the value of the deal.

Construction works on the project should start in 2018 and be completed in 2023. The project will open about 500 jobs.

The plot of land in Bulgaria's second largest city used to be the site of a Kamenitza brewery. In 2015 the company decided to relocate production to its other brewery, in the city of Haskovo, some 90 km southeast of Plovdiv.

Kamenitza will retain ownership of an adjacent 3,500 sq m plot of land on which it plans to build a multifunctional development comprising a craft beer microbrewery and a museum. Construction works on project, in which Kamenitza plans to invest 2 million euro ($2.15 million), will start in September and are expected to be completed in 2018.

01 September, 2017