Hungarian holding to invest in commercial Bulgarian properties

Hungarian property developer SCD Holding announced the company’s intentions to expand to Bulgaria, Romania and Croatia. That was reported by the Hungarian newspaper “Napi Gazdasag” yesterday.

In Bulgaria, particularly, the company plans to invest and develop mainly office and commercial Bulgarian properties. In Romania, on the other hand, it will focus deeper on residential property, while Croatia has been marked by the company’s management as strategic for investing in the tourism sector.

In addition, SCD Holding is preparing for joining the Budapest Stock Exchange. The listing is currently planned to take place in the third quarter of 2009. The company also just recently completed the transaction of 24-unit retail chain, however, the value of the deal was not announced.

The company, which undertook that expansion strategy last year, plans to establish representative companies for its projects in each individual countries. It also intends to increase its capitalization to 400 million euro within the next three years.

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