Mall of Sofia sale held back

Germany's DEGI Deutsche Gesellschaft fuer Immobilienfonds shelved the purchase of Mall of Sofia. Reasons for the termination of the contract were not provided but the potential buyer related them to the economic crisis. DEGI, however, did not entirely deny the possibility of buying the shopping center at a latter stage stating a new evaluation of the key aspects of the deal had to be made. Legally, Mall of Sofia belongs to of M.O. Sofia, a special purpose vehicle owned by the real estate investment division of American company General Electric and Irish real estate investment manager Quinlan Private.