Owners of 1 Million Decares To Re-Allot Their Land

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The first meeting of the managing board of Bulgarian Association of Agricultural Land Owners, established by the biggest local owners of agricultural land with more than 1 mln decares of land, will take place on 29 May 2007.

The main goal of the association is to accelerate the process of concentration and re-allotment of agricultural land, to protect the interests of local agricultural land owners and to effectively use the available landed resources.

One of the key goals of the association is to actively cooperate with the other participants in land relationships: leaseholders, other owners and the state in the face of ministry of agriculture and forests as the main regulatory body in the process of agricultural lands concentration and re-allotment.

The first action of the association is to create a unified database of of the owned properties aimed at their integration through follow-up exchange of neighbouring land plots.

The association was established by: ELANA Agricultural Land Fund REIT, Advance Terrafund REIT, Bulland Investments REIT, Seres AD, Bulgaria Real Estate Fund REIT, Mel Invest Agricultural Land Fund REIT and Omega Agro Ltd. Georgi Georgiev was appointed as chairman of the association, who represents Elana Agricultural Land Fund REIT. Borislav Petkov from Omega Agro Ltd. is deputy-chairman.

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