Elana Agricultural Land Opportunity REIT Buys 10,000 Decares Of land In A Month

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Elana Agricultural Land Opportunity REIT acquired 10,400 decares of arable land in one month. Thus, the total land owned by the REIT stands at 234,400 decares.

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.

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