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DUTCH REAL ESTATE FUND INTERESTED IN BULGARIA

Fri, Apr 20 2007 10:58 CET 391 Views

Real estate fund Bouwfonds Property Development (BPD), part of Dutch financial group Rabobank is investigating the execution of a project in Bulgaria.

The fund is also interested in investment projects in Romania and other countries in the region, investor.bg reported.

BPD representatives said that it was early to make specific plans but a decision is to be taken within six months.

The company will focus on residential property projects and possibly on commercial property.

According to media reports, BPD intended to open an office in Romania by the end of 2007. BPS said that despite its interest in the country, nothing has been decided yet.

Bouwfonds was under the ownership of banking group ABN AMRO until December 1 2006 after which it was purchased by Rabobank for over 800 million euro. The company's net profit for 2006 is estimated to 189 million euro.

Established in the 60s, Bouwfonds currently operates in France, Germany, Spain, Belgium and the Czech Republic.

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