According to September 30 data Elana Agricultural Land Opportunity REIT (

) owns a total of 224,000 decares of agricultural land acquired at an average of 197 leva per decare (adjusted for all costs).

The company has acquired a total of 31,100 properties to date. Procedures for changing the status of the 216 decares recently bought near Sofia are currently on their way.

In terms of regions, the land is allocated as follows: 59% in the Danubian valley, 20% in the Luogorie area in Dobrudja, and 21% in southeastern Bulgaria.

More than 90% of the land is being cultivated by local renters. At the moment the company is in the process of identifying the renters and signing notary certified lease contracts.

By the end of the year the company expects acquired land plots to total at least 250,000 decares, and has plans to lease out 70% of it. The average rent price for the agricultural 2007/2008 stands at about 14 leva per decare, and is set to increase by 20% each year for the following 4 years.

153 shares changed hands so far today at 2.18 leva.