What are the bigger plans that property investment trusts in Bulgaria will be completing this year?
Fundamental Real Estate BG REIT anticipates to complete its St. Vlas plan – a gated residential complex offering vacation houses for rent on a total area of 10,000 sq.m. The community will have its own maintenance and security crew, as well as a real estate rent agency.
“We already have sales even though the erection is not completed and we expect to sign some more contracts in the near future,” the company told. “At the same time, there are real estates available for rent (including some that have already been sold but the owner wishes to rent them out)”.
11 million leva (5.6 mln euros) the fund's profit last year topped  and good results are expected this year as well.
BenchMark Properties REIT told they did not plan the conclusion of any investment plans right now. The fund is currently focusing on two projects –an administrative and commercial building on Tsarigradsko Shose and  apartment hotel Exclusive Ski & Spa resort in Borovetz. Their completion has been scheduled for 2009.
ERG Capital 3 REIT told they are planning to complete the erection of a commercial center in Stara Zagora. It is located on Blvd Patriarch Evtimii right next to Baumax. 19,000 sq.m is the total built-up area. About 15,000 of which is already rented for a term of 10 years. “We are currently negotiating the rent of the remaining space. We expect to gather our first incomes in 2009,”
Except the parcel in Stara Zagora, the company also owns four other plots – two in Sofia and one in  Varna and Burgas. There is investor interest in two of those and one plot is planned to be the location of a new commercial center. “We are analyzing what development opportunities will be more profitable to our stockholders for each of the plots – building shopping centers and rening space in them or selling the parcels,”
The company's total investments last year topped 96 mln leva, 49 mln euros (VAT not included) and net revenues stood at 47.9 mln leva (24.4 mln euros). 213 sales were made in 2007.
Fair Play Properties REIT investments for Q1 total 6.4 mln leva, 3.2 mln euros (VAT not included) and the value of the funds sales contracts amounts to 8.78 mln leva, 4.4 mln euros VAT not included).
The total amount of investments up to now stands at 203 mln euros. The bulk if it is directed to the development of vacation hotels,apartments, commercial space, residential properties, rehabilitation centers etc.
70% or 124 apartments in zone 2 are also sold, as well as 16 apartments in Bansko.
The company also told that 98% or 236 apartments in its Santa Marina vacation complex zone 1 in Sozopol were already sold as at end of 2007.
Sales in Santa Marina stage 3 started in April, the company announced. The rest of the plans are still at an early stage of the development.
By the end of the year Fair Play Properties is planning to invest a further 73.6 mln leva (37.6 mln euros). 42.95 mln leva that is 58% of the sum  will be allocated to buildings plans and the remaining 30.65 mln leva to land purchases.
Active Properties REIT said the company does not have any development projects due to be completed this year.
Active Properties said there is investor interest in the following projects: the rening/sale of parcels in the village of Krumovo near Plovdiv, the construction of a logistics center, the renting of a hostel in Pleven , the residential complex in Plovdiv, the resale of a Svilengrad property etc. “No sales-purchase agreement have been signed so far this year,” the company said.
Exceptional Property REIT is starting the development of two large plans this year in compliance with its investment program. Their completion is expected within 17-18 months. The company has not signed any rent agreements so far in 2008, which meand this year's revenues will come primarily from interest on bank deposits and profit from reevaluation of properties.