Local real estate investment trust Super Borovets Property Fund has earmarked 8.5 mln levs for the purchase of properties in various parts of the country.
The investment program will be put to a vote at an April 8 general meeting of shareholders.
The first purchase planned by the REIT is of 2 unzoned properties in the village of Slatina, near Sofia. The company will pay 4 mln levs for the properties with a combined area of 0.818 ha.
The shopping list of the fund also includes a recreational center and a property with zoning approval in the coastal town of Balchik, with a combined price tag of 3.5 mln levs; and 1 mln levs in land plots with zoning approval located in village of Lyuliakovo, in the Dobrich region, with an area of 36,000 sq m.
In January this year, Super Borovets Property Fund sold a 56,100 sq m lot near Samokov for some 9.9 mln levs. The plot's acquisition cost of less than 1 mln levs allowed the fund to turn in a hefty profit of 8.989 mln levs for 2006.