The company is till in the process of changing the land statute of the 216-decares parcel near Sofia.
In October the fund bought 1,1000 properties, which makes it the owner of a total of 32,200 properties.
The majority of the land is situated in the Danubian Valley – 50%, in south-east Bulgaria – 22% and in the Ludogorie region – 19%.
As we know, land in Bulgaria is divided into 10 categories in terms of fertility with category 1 being the most suitable for cultivation. 83% of the land owned by Elana Agricultural Land Opportunity REIT falls into category 3 – 5, and 9% is in category 6, and 4% is in category 1-2 and category 7-10.
The company is actively working on a program for the identification of land plots suitable for installation of wind-generating facilities.
These terrains will be recategorized and sold to foreign investors who have already expressed interest in buying such. Selling land suitable for installation of wind-generating facilities has proved to be far more profitable than selling arable land.