FIA Bulgaria may up stake in Hadjidimovo project |
2008-01-22 08:00 News from Dnevnik.bg
FIA Bulgaria, 68.68%-owned by Greece`s FIA Corporation, may increase its stake in the joint project with the local Hadjidimovo municipality for the construction of a 72,000 sq m villa community and a 48,000 sq m high-tech park near the village of Koprivlen, South-western Bulgaria.
FIA Bulgaria owns 55% in joint venture company United Constructions&Development. The municipality has contributed land to the assets of the JV.
FIA`s stake may be raised to 90%, said Dinko Cherganliev, an independent member of the board.
The Greek-owned company has earmarked 19 mln levs for the project which should get underway in the fall 2008 and wrap by 2010.
United Constructions&Development is forecast to report 9.4 mln levs in revenues and 3.6 mln levs in net profit for 2008.
FIA Bulgaria is also developing an office scheme in Sofia`s Mladost 1 residential district. The building will occupy a 900 sq m site and will have a built-up area of 3,300 sq m. It will cost 3.3 mln levs and should be ready in 2010.
The initial stages of the projects will be financed with the proceeds from a capital raise that starts January 22.
The company is floating 525,000 new shares with a nominal value of 1 lev and issue price of 9.31 levs.
This News is listed at news.Guide-Bulgaria.com
Pages:  > 2008-09-04 Supply Tops Demand on Real Estate Market in Sofia
> 2008-09-03 Luxurious residential estate near the village of Osenovo, Varna region
> 2008-09-02 34% Increase of Real Estate in Sofia
> 2008-09-02 International developer ignores oversupply in Bulgaria and announces major new residential project
> 2008-09-01 Bulgaria`s real estate boom stumbles as demand slumps
> 2008-08-28 Biggest Housing Price Increases in Kyustendil, Plovdiv and Smolyan
> 2008-08-27 Developer Winslow announces 2 new projects for residential compounds in Sofia
> 2008-08-22 Seaside Real Estate Agencies Go Bankrupt
> 2008-08-19 Bulgaria is a good place to buy property
> 2008-08-18 Real Estate Agencies Go Bankrupt
> 2008-08-14 Bulgarian property market may recharge growth over short term
> 2008-08-12 Foreign buyers eye Plovdiv area arable land plots
> 2008-08-11 Real Estate Prices at Bulgarian Seaside Decrease
> 2008-08-10 Land prices in Bansko
> 2008-08-09 New City Complex for EUR 2 B to Be Constructed in Downtown Sofia
> 2008-08-06 EUR 4 M to Be Invested in Infrastructure of Sofia Luxury Quarter Winslow Gardens
> 2008-08-05 Bulgarian unit of Greek Gek Terna to build 105 mln euro office tower in Sofia
> 2008-07-29 UK Owners Start Selling Real Estate on Bulgaria Black Sea Coast
> 2008-07-23 Apartment Prices in Bulgaria Grow 6% in April-June 2008
> 2008-07-23 Housing market calms down