Investment plots in Mladost IV residential area

In June 2007, BREF acquired 20 land plots with total area of 77,978 sq.m. They are situated next to Business Park Sofia and most of them are neighbouring. The invested amount is EUR 19,192,067. The plots are well positioned for development of different projects as residential, administrative and hotels. In 2008 BREF completed the sale of the 9 of the land plots and received EUR 17,500,000 under the preliminary agreement for sale. After the sale the Fund remains in ownership of 12 land plots with total size of 47,345 sq.m.

In 2008, Sofia Municipality initiated a procedure for preparation and approval of new structural plan for the area, which will delay the investment intentions of the Fund for the period after the approval of the new structural plan.