The lease is due in the end of each business year. The average lease for the 2006/2007 business year is 14 leva/1000 sq m. So far the company has leased more than 18 mln sq m of agricultural land representing over 50% of the total agricultural lands owned by the real estate fund.
Fund Real Estate Bulgaria REIT recently acquired Commercial Center Doverie Bricolage, Sofia and Commercial Center Doverie Bricolage, Varna for 6 mln euro and 4 mln euro respectively.
Currently the fund has 10-year rent contracts for 54,087 euro and 36,060 euro respectively.
A little more than 12,000 shares of the company changed hands today at an average price of 1.45 leva/share.