The biggest share belongs to Elana Agricultural Land Opportunity Fund REIT-Sofia – 173 mln sq m (as of 30 April), followed by Advance Terrafund REIT with 157.917 mln sq m.
The two trusts have signed lease contracts for 68 mln and 57.5 mln sq m of land respectively, representing 48% and 46% of the lands, purchased as of 31 December 2006.
The third biggest owner of agricultural land among local REITs is Bulgarian Real Estate Fund REIT-Sofia. BSE data shows that the company has leased more than 18,000 leva or over 50% of the 35 mln sq m of land owned in the regions of Dobrich, Varna, Silistra, Razgrad, Ruse, Lovech, Pleven, Veliko Tarnovo and Vratza.
Data published on the website of Bulland Investments REIT shows that the fund owns 17.382 mln sq m of land, while Agricultural Land Opportunity Fund Mel Invest REIT-Sofia own a little over 10 mln sq meters.
Black Sea Investment REIT and Health&Wellness REIT have little investments in agricultural land.
In the end of February seven companies, five of which public, established a non-profit organization – Bulgarian Association of the Owners of Agricultural Land, BSE announced on its website.
The companies are Elana Agricultural Land Opportunity Fund REIT-Sofia, Advance Terrafund REIT, Bulgarian Real Estate Fund REIT, Bulland Investments REIT, Agricultural Land Opportunity Fund Mel Invest REIT-Sofia, and Agricultural Land AD and Vinprom Peshtera AD.
The objective of the organization is to accelerate the process of re-allocation of agricultural lands, effective development of land resources, ensuring modern development of agriculture in Bulgaria and protection of the interests of the owners of agricultural land.
Since the beginning of this year rhe biggest number of transactions (1,349) have been made with the shares of Elana Agricultural Land Opportunity Fund REIT, while Advance Terrafund and Bulgarian Real Estate Fund REIT registered 1,139 and 419 transactions respectively.