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 property, consisting of 21 plots was acquired in 2007 with the aim to develop residential, administrative and hotel buildings.

KBC – Retail area (sold at shell construction)

In 2008 BREF completed the divestment of the retail part of Kambanite Business Cente – 15,013 sqm at level -1 during the building structural works. The total amount of the transaction was EUR 11,150,000 and the buyer – Hyundai Bulgaria Motors.

The project, implemented by BREF, was for mixed-use development in Sofia. The start of the project was in 2006, when the plot was acquired and the construction started. The project was split in two parts – retail and office. The building is located in the foothills of Vitosha mountain on the southern section of Sofia Ring Road, near the Mladost IV district and across Business Park Sofia. The proximity to the ring road provides quick and easy access to all major city boulevards.

Office Building – G.M. Dimitrov

In 2008 BREF successfully exited another turnkey project – office building G.M. Dimitrov. The total amount of the executed transaction for the sale of the finished building is EUR 17.5 million. The project was launched in 2006 when the Company purchased the 1 520-sq.m. site with a building permit. The construction of the building started in mid-2007 and at the end of 2008 it received use permit. The building has 10 floors above the ground and two underground floors. The total floor area is 13 490 sq.m.