The Company announced its first forecasts for the year
Sofia, March 20, 2008
FairPlay Properties REIT expects to realize BGN 10, 4 mln profit for distribution for 2008. The Company announced its first forecasts for the current year, in which is evident that is planning at least BGN 0, 16 per share for this year or with BGN 0, 02 over the one for 2007. In comparison, the profit for distribution for 2007 reached BGN 8, 8 mln, as the forecast was for BGN 8, 2 mln.
The revenues from sales, which the Company is planning amounts to BGN 42, 46 mln. 98% of them will be from sale of apartments and 2% will be from rents.
The Fund will make investments at the amount of BGN 73, 6 mln in 2008. For acquisition of new plots are planned to be invested 42% from the total capital investments or BGN 30,650 mln and the rest 58% will be for constructions.
From the beginning of 2008, the Company has signed new Sale Agreements for 51 apartments with total value BGN 8, 306 mln and total unfolded built-up area 3 390 sq. m
On the March 6, this year, successfully finished the Subscription about the fourth capital increase of FairPlay Properties REIT . Thecapital of the Fund will increase with 5 125 370 new shares with nominal BGN 1.00 and issuing value BGN 2, 25 per share.
FairPlay Properties REIT is the biggest in assets Company for securitization of real estate (without agricultural lands) with 14,59% market share and had fourth place towards this index from all the REITs invested in the real estates, listed on the BSE ( according the statistics of Financial Supervision Commission for the third quarter of 2007). According the information from the last Prospectus of the Company the market value of its assets as at November 2007 exceeds BGN 170 mln.
FairPlay Properties has an award from the Investor‘s Association for “The Best Corporate Governance of REITs 2006”.
FairPlay Properties REIT is listed on the Bulgarian Stock Exchange – Sofia on 17 February 2006. The main shareholder in the Company is FairPlay International JSC with 66,89 % quota in the capital.