Sofia Property - Funds for agricultural land have nearly 600 thousand decares

Sofia Property - Funds for agricultural land have nearly 600 thousand decares

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Funds for agricultural land have nearly 600 thousand decares

Land owned by real estate funds, now nearing 600 thousand decares. This is clear from reports of the largest representatives of the sector, already disclosed in the Bulgarian Stock Exchange. Besides the activity in respect of acquisitions typical of the companies is that they also began to report profits like their stock levels, involved in construction. The second company within the area of owned land - Advance Terrafund, yesterday announced that at the end of January the total area has reached 217 thousand decares. The average price at which they were acquired, is 217 leva inclusive of all costs. Their value as the company's message, sent to the BSE-Sofia, however, is 67,849 million euro without including the revaluation last year. In total portfolio has 83% of capital investments in agricultural land and 17% in urban areas. So at the end of January revenues from rental and lease business for 2006-2007 on have amounted to 527.68 thousand BGL However, the company reported that for the first four months of the new marketing year (October, November, December 2007 and January 2008) Advance Terrafund "has concluded contracts for rental and lease of 69.470 thousand hectares, which constitute 32% of land purchased to date. Forecasts of the proceeds are not made. At the end of last month "Elana Fund for Agricultural land, which results in parcels owned, also has owned a total of around 253,300 thousand acres of agricultural uses. The average acquisition price was 203 leva per hectare with all the costs, which the company first indicator in positions among the other representatives of the sector. Last year the fund is made and profits amounting to 47 865 million BGL But dividends are not expected to be distributed as a positive result is formed by the revaluation of assets. Management plans are dividends to be possible when at least 90% owned lands begin to give lease or when starting with auctions of owned land. At the end of December 2007 the lease during the 2007/2008 season are generally agreed 170 thousand ha at an average rent of 13 euro per hectare, pointed at the press service of the company. Purpose of all companies in the sector is to invest primarily in the most fertile agricultural land and usually more than 90% are of category 1 to 6 (out of 10 - they categories, the first is the most fertile land), which respectively have the most arendni well-developed relations. The allocation of acquired land in regions with excess of Northern Bulgaria. The biggest part of investments in lands of North Central region, followed by North-East and then North West region. South investments are mainly concentrated in Southeastern Bulgaria and South Central Bulgaria.

 
22.05.2008
Stroitelstvo.bg

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Sofia Property - Funds for agricultural land have nearly 600 thousand decares