The fund has invested 25 mln leva (12.782 mln euros) in acquisitions of land plots year-to-date. Agricultural terrains take up 93% of the fund's portfolio, and urban land – 17%.
The average acquisition price stands at 212 leva/decare (adjusted for all costs), the average acquisition price for this Agust is 250 leva.
The company invests primarily in good quality arable land – 99.5% of purchased plots fall into categories 1 – 6 (on the scale of 1 – 10, 1 being the most fertile).
In terms of regions the land is allocated as follows: 45% in north-eastern Bulgaria, 29% in the northern central region, 15% in the north western, 8% in the south central region, and 3% in southeastern Bulgaria. Nearly 55% of the land has been leased out.
The company has acquired 105 land plots into one massive property near Haskovo with a total area of 900 decares in a barter deal.
Advance Terrafund has also negotiated an 8 mln leva bank credit from ING Bank in order to finance further land acquisitions in compliance with its investemnt staretgy and prospectus.
In September the company started a campaign for the lease out of land for the agricultural 2007 – 2008 season.
276,086 have changed hands so far today at an average of 2.17 leva/share.