At the end of August, Elana Agricultural Land Opportunity REIT (

) owned a total of 213.900 decares of land. The new terrains have been acquired at an average of 195 leva per decare (adjusted for acquisition costs), the fund told BSE.

At the end of July the company controlled a total of 204,300 decares of arable land acquired at an average of 194 leva per decare. At the end of June the REIT owned 192,800 decares and the average price stood at 193 leva.

Elana is primarily interested in the north-eastern part of Bulgaria. 60% of the land is situated in the Danubian Plain, 20% in the Dobrudja and The Ludogorieto region, and the other 20% in the south-east of the country.

Most parcels (83.5%, or nearly 178,000 decares) fall into categories 3-5.

The company plans to sign 900 contracts before the end of the year for the rent and cultivation of 150,000 decares. The average rent price is projected at 13 leva.