LAND PLOTS IN SOFIA – MLADOST IV

In September 2008, the Fund sold 9 properties part of the Investment plots in Sofia, Mladost IV with total size of 31,908 sq.m. for EUR 17.5 million or EUR 548.45 per sq.m. The group of 21 plots was acquired in 2007 with the aim to develop residential, administrative and hotel buildings.

KBC – RETAIL AREA (SOLD AT SHELL CONSTRUCTION)

BREF completed the disposition of the retail part of Kambanite Business Center in 2008. The total sale price was EUR 11,150,000 and the ownership is fully transferred to the buyer – Hyundai Bulgaria Motors.

OFFICE BUILDING – G.M. DIMITROV

In 2008 BREF successfully exited another turnkey project – office building G.M. Dimitrov.

BREF signed preliminary agreement for sale of the office building for the amount of EUR 17,500,000. The transfer of ownership took place in three stages corresponding to the stages of the construction.