Fair Play Properties Posts 7.9 Mln Leva Profit On September 30 Report

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Fair Play Properties REIT () posted profit in the amount of 7.9 mln leva (4.039 mln euros) on September 30. the company told BSE. Nearly 6 mln leva (3.067 mln euros) will be allocated among investors. The income reaches 8.6 mln leva (4.397 mln euros) together with 2006 undistributed profit.

Revenues from the sale of 197 apartments amount to 30 mln leva (15.338 mln euros). Total sales revenues stand at 37.2 mln leva (19.020 mln euros), which includes 35.8 mln leva (18.304 mln euros) from apartment sales and 1.4 mln leva (715,808 euros) from sales of land plots.

90% of apartments in vacation complex Santa Marina 1, 27% of Santa Marina 2, and 17% of Ivan Rilski Complex have been sold by September 30,

The fund has invested 25 mln leva (12.782 mln euros) in Q3. In August Fair Play started the construction of a vacation complex in Panichishte.

The Rila Lake Resort will cost an estimated 50 mln leva (25.564 mln euros). The complex will comprise 8 buildings with 308 apartments and a hotel with a total built-up area of 30,000 sqm, on an area of 25,600 sm, of which 18,000 sqm gardens and alleys.

There have been no transactions with Fair Play Properties REIT shares so far today on the BSE. The stock has been surging ever since September and permanently settled at more than 2 leva. On Friday the stock reached 2.27 leva at a turnover of 6,510 shares.

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