British entrepreneur mulls construction of eight malls in Bulgaria
John Cutts, the founder and chief executive of commercial property developer Parkridge, is continuing his expansion into East Europe, the Financial Times reports.Although the entrepreneurs initial plans envisaged expansion to Poland, due to its key location, he also saw good opportunities for investment in retail compounds in Bulgaria and Ukraine. Seven retail centres have been erected in Warsaw since Parkridges accession to the Polish market, which means that it might be oversupplied soon, the developer said. He added that the Czech Republic used to offer good potential, but it faced a similar problem of reaching its capacity for absorbing commercial establishments.
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