Agro Finance REIT's Portfolio Up 32% in Jan – July

Agro Finance REIT's Portfolio Up 32% in Jan – July

On 31 July 2008 the investment portfolio of Agro Finance REIT consisted of 87,358 decares of arable land, which is 32.21% up since the beginning of the year, the company told

The company invested a total of 21.435 mln leva (10.9 mln euros) during the period. The average price for the land in the portfolio stands at 245.37 leva/decare (adjusted for all acquisition costs).

96.05% of the land plots fall in to categories 1-6 (on a scale of 1-10, where 1 is the most fertile). 3.95% of the plots fall into lower categories.

89.64% of the plots are situated in three regions – northwestern, north central and north eastern. Those regions are characterized by high quality land and are believed to hold a lot of potential for agricultural development.

99.24% of the land is arable. On 31 July nearly 41,000 decares (47%) were leased out for the agricultural 2007/2008 period.

2,000 shares traded hands on the position yesterday at 1.32 leva apiece.

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