Bulgaria Land Fund ELANA Records 12 Times Turnover Jump

Properties | April 30, 2009, Thursday // 17:28|  views

Currently the fund has 293 187 decares of land in North Bulgaria and in South districts of Burgas, Yambol and Haskovo. Photo by BGNES

ELANA Agricultural Land Opportunity Fund (ELARG) increased its turnover nearly 12 times for the first three months of 2009 year-on-year.

The total turnover of the fund was BGN 948 000 for 2009's first quarter. During the same period the fund's profit was BGN 249 000. For the first three months of 2008 ELARG recorded a BGN 534 000 loss.

ELANA was founded in 2005, as the first Bulgarian real estate investment trust (REIT) for investments in agricultural land. Currently the fund has 293 187 decares of land in North Bulgaria and in South districts of Burgas, Yambol and Haskovo.

 

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