News

BULGARIA: Real Estate Investor Activ Properties Posts Q2 Profit Of BGN 0.46 mln
Bulgarian real estate investment trust Activ Properties reported an Q2 profit of BGN 459 000, up from BGN 30 000 at end-2005. The upside came from the sale of 4.5 ha of land in the Plovdiv area for BGN 905 000, said executive director Dilyan Panev.

Deutsche Bank Property Unit Closes First Investment in Bulgaria
RREEF, the real estate investment arm of Deutsche Asset Management, the global investment management business of Deutsche Bank, has formed a joint venture with Bulgarian property developer Winslow Developments to develop real estate projects in Bulgaria, the German bank said in a press release on Monday, July 24.

Bulgarian Property Fund Raises BGN 76 mln on Bourse
The last capital hike performed by special purpose vehicle (SPV) Prime Property BG raised BGN 76.77 mln in fresh cash, a figure that could eventually reach BGN 97 mln if the auction scheduled for the unsubscribed rights is successful.

UK Fund Buys Land For Residential Project in Sofia Area Town
Lewis Charles Sofia Property Fund was quoted as saying Tuesday by news agency Dow Jones that it has contracted to buy 46,810 sq m of land (3 plots) in the small town of Dolna Banya, located in the Sofia region, South-west Bulgaria.

Bulgaria Registers New Real Estate Investment Trusts
Bulgaria's Central Depository has registered the shares of 2 new real estate investment trusts, 'Dnevnik a.m.' reports. The launch of Alfa Property 1 and Status Estates brings the overall number of special purpose vehicles operating here to 30.

Spanish Co's Eager to Invest in Bulgarian Property, Construction Projects
Over 20 Spanish construction, infrastructure, real estate and financial corporations are sounding out the investment potential of the Bulgarian economy, it emerged at a real estate property forum organised by the Spanish Foreign Trade Institute and the commercial department of the Spanish diplomatic mission in Sofia.

Intercapital Property Development Cap Hike to Raise BGN 6.5 mln
Real estate investment trust Intercapital Property Development will raise its capital from BGN 3.25 mln to 4.875 mln, the company said in a filing with the Bulgarian stock exchange.