Plot near Sofia - ID 3687

Rural Development Program Starts In Bulgaria 17/04/2008
Today is the official start of the Program for development of the rural areas in Bulgaria. In all 28 Regional payment agencies starts the reception of projects under the first two measures – 112 “Establishment of farms of young farmers” and 121 “Modernization of agricultural farms”. The budget of the first measure is over 102 M EUR, and of the second – over 1 bln and 40 M EUR. All measures under the Program are expected to be opened by June and mid-July. The total budget, which Europe gives to Bulgaria for rural development till 2013 is 3.24 bln EUR. more

Bulgarian Funds, Investing In Land, Reach 60 000 Ha 14/03/2008
The combined land asset holdings of local real estate investment trusts (REITs) are approaching 60 000 ha, according to financial reports from some of the biggest REITs filed with the Sofia stock exchange. Elana Agricultural Land Opportunity Fund boasts the biggest farmland portfolio with 25 330 ha as of the end of January. The average acquisition cost is reported at 2 030 leva a hectare. REITs posted earnings of 47.865 million leva in 2007. No dividend will be distributed as the upside resulted solely from asset revaluations. The management is planning dividend payments after the rate of leased properties in the company portfolio reaches 90 per cent. The company has leased 17 000 ha for 2007/2008 at an average price of 130 leva per hectare. Advance Terrafund manages the... more