Bulgarian Land Development (BLD) investment fund acquired another 46 673 sq m piece of agricultural Bulgarian properties near Sofia for 500 000 euro, although its exact situation was not revealed.
The plot is situated in an area with good potential for the development of a residential compound in Sofia’s suburban areas. BLD wants to consolidating several stretches of agricultural land in the area to a total of about 250 000 sq m. Once the fund has gained all the necessary land, it plans to change its purpose into plots for residential building.
BLD representatives consider the project very attractive to both holiday property buyers and Sofia residents, because of its enticing situation – only a 45-minute car drive from Sofia, the complex will combine the benefits of an urban complex with facilitated approach to ski slopes, spa facilities and golf courses.
The purchase will be financed by own resources, the exact situation will be pinpointed after all the adjoining lands have been acquired, company officials said in a statement. Earlier this month, BLD announced that it had bought a piece with an area exceeding 38 000 sq m close to Sofia for 1.7 million euro. The two Bulgarian properties are not situated to each other.
BLD’s aim is to have invested or allocated for investment all of its capital, which currently stands to 51.4 million euro, by the end of 2008.