Sat, Nov 07 2009

Bulgarian farmland funds amass 71 000 ha

Wed, Aug 20 2008 11:23 CET 178 Views

Bulgarian real estate investment funds (REITs) focused on arable land have accumulated 71 000 ha, according to the latest market data, which also showed that the biggest special purpose vehicles were boosting their market share.

The biggest REITs were the most active buyers, while their smaller competitors were more cautious and purchase smaller plots. The three biggest REITs - Elana Agricultural Land Opportunity Fund, Advance Terrafund and Agrofinance, own 86% of the total land portfolio.

Elana's fund owns 28 200 ha, just ahead of Advance Terrafund with 24 300 ha and Agrofinance with 8700 ha. In July, the Elana fund consolidated its new farmland plots at an acquisition cost of 2910 leva a ha versus 3590 leva a ha for Agrofinance.

Advance Terrafund has agreed the best lease rates at 140 leva a ha. The company raked in 2.11 million leva in land lease revenues in the 2007/08 farm year. The Elana fund has agreed 129 leva a ha and has forecast land lease income at 2.34 million leva.

Arable land in the north-central and northwestern regions make up the bulk of the funds' portfolio.

Read the full story on Dnevnik.bg

Write comment

Name:Comment:

Generate new code
Send your comment

More in this category

Bulgaria business property deals contracted sixfold – Forton

Office rent transactions peaked at 65 000 sq m between July and September 2008, but collapsed to 10 700 sq m in Q3 2009, Forton manager Sergei Koinov said.

Luxury real estate prices in Bulgaria slump by 40% - study

Most potential buyers are now opting to buy a luxury flat in the range of 120 000 to 150 000 euro or a single family home for about 500 000 euro.

Bulgaria's construction sector facing 'survival year' in 2010 - Minister

About 30 000 to 35 000 people employed in the construction sector were facing redundancies in 2010, Bulgaria's Regional Development Minister Rossen Plevneliev said on October 26.

Housing prices in Bulgaria fell 28 per cent year-on-year – official

Average market prices of housing in Bulgaria dropped five per cent in July-September, measured quarter-on-quarter, the National Statistical Institute said on October 23 2009.

Key interchanges in Sofia will be constructed with European Investment Bank loan

The European Investment Bank (EIB) has released a 43.5 million euro loan to Sofia Municipality, for infrastructure projects worth 88.1 million euro in total