FairPlay Properties REIT signed in August new contracts for the sale of 47 apartments for a total of 14.2 mln leva (VAT excluded). The total number of apartments sold since the start of the year has reached 178, exceeding by 22% the preliminary estimates, the company said.

The value of the sales since the start of the year stands at 40.3 mln leva, while the total built-up area of the apartments amounts to 13,637 sq. m on the August contracts.

The company has guaranteed 12.2 mln leva net profit from the sale of 111 apartments so far, which will be accounted upon the completion of the sales.

FairPlay Properties REIT is the biggest company for the securitization of real estate properties (excluding arable land) in terms of assets among the REITS listed on the Bulgarian Stock Exchange (BSE).

FairPlay International is a major shareholders in the REIT with a 67-percent stake. The remaining shareholders are institutional investors (10 pension funds, 16 mutual funds, 4 investment companies) and over 260 legal entities and individuals.