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:  > 2009-11-10 Prices of real estates in Bulgaria may fall by another 5-10% next year
> 2009-11-10 Airport Gate Towers project in Sofia
> 2009-11-10 Sofia amongst the most expensive warehousing market in Central and Eastern Europe
> 2009-11-06 EUR 530 - 600 per m2 is the actual price of housing in Sofia
> 2009-11-05 Property exhibition and real estate and investment conference in Sofia
> 2009-10-23 Propery prices in Sofia dropped by 16%
> 2009-10-21 Novoclass logistic complex in Sofia Gorublyane district
> 2009-10-21 Sofia office building projects put on hold
> 2009-10-16 Sozopolis complex reproduce style and atmosphere of Old Sozopol
> 2009-10-05 Construction of business park in Sofia`s Slatina quarter was started
> 2009-10-01 Israeli company invests EUR 20 million into project in Sofia
> 2009-10-01 REIT Bulgaria gets EUR 5 million loan to refinance a project in Sofia
> 2009-10-01 Construction of big shopping centre in Sofia is pending completion
> 2009-09-23 New plan for Sofia Students town
> 2009-09-20 Sellers of real estate properties in Bulgaria reduce prices
> 2009-09-15 Average Bulgarians should now own home easier than 5 years ago
> 2009-08-31 BG properties prices decreased - apartments in Sunny Beach for EUR 20,000 to 30,000
> 2009-08-26 Irish Independent - BG real estate in coastal resorts will remain stable
> 2009-08-24 ̀ore building permits issued for smaller home units
> 2009-08-21 772 BG hotels announced for sale on the real estate market