Bulgarian Insurance Firm DZI Acquires Mall Varna

Bulgaria-based insurer DZI, part of Belgium’s KBC Group, said on Thursday it has acquired Mall Varna, a business centre in the coastal city of Varna, from local company Hidrostroy for an undisclosed sum.

DZI will use the business centre for investment purposes as well as for the needs of the companies that make part of KBC Group and have representative offices there, DZI said in a statement.

“From Varna, we will service the activities of different companies of KBC Group,” Petar Andronov, KBC Group country manager for Bulgaria, said in the statement. 

KBC Group has already opened a shared services centre in Varna Mall, which will create some 300 new jobs, DZI said.

Mall Varna consists of two connected buildings which spread on about 27,400 sq m. The shopping mall located close to the city centre and 10 minutes drive to Varna Airport, has been completely remodelled into a business centre. 

In 2018, DZI along with United Bulgarian Bank (UBB), also part of KBC Group, acquired the office building of Millennium Centre, a mixed-use high rise in the capital Sofia. UBB and DZI acquired the office building from local construction company NIKMI for an undisclosed price. 

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