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Tuesday, July 18, 2006 

Bulgaria registers new property investment vehicles

Bulgaria's Central Depository has registered the shares of 2 new real estate investment trusts.
The launch of Alfa Property 1 and Status Estates brings the overall number of special purpose vehicles operating here to 30.
Alfa Property 1, co-founded by Alfa Finance Holding (95%) and Bulbrokers, will invest in business properties in Sofia and the greater Sofia area, said executive director Ivan Nenkov.
Status Estates, co-founded by Advance Invest (30%) and Status Invest (20%), is already developing a project for a multi-use building with commercial, office and residential sections. The company is considering several suitable sites in Sofia.
The fund will also invest in agricultural land plots that will be rezoned and sold for profit.

Source: Dnevnik a.m
Related links: Bulgarian Real Estate Investment Trusts Guide

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