GMS of FairPlay Properties REIT voted to cover the loss of BGN 2.9 million at the expense of the reserves

30% of new residential block next to the NSA of the REIT is sold in the first three months after the start of construction

Sofia, June 18, 2015 

   On the regular General Meeting of the shareholders, held on June 18th, were approved and adopted the report of the Board of Directors on its activities in 2014, the annual financial statements for the past financial year, the auditor’s report and that of the Director of Investor Relations. The Board of Directors was released from liability for its activities in 2014.
   Shareholders of FairPlay Properties REIT voted not to distribute dividends for 2014 and decided to cover the loss of BGN 2.9 million at the expense of the reserves.
   The company’s management  announced its vision for the company’s development in the coming years. „Priority projects for us over the next two years will be the holiday village Santa Marina and residential complex with integrated parking space in Sofia next to the campus of the NSA, which is the newest project of the REIT. Its construction began in late February this year. It is worth noting that for only three months from the start of construction we have made preliminary agreements for the sale of 30% of the apartments in the first block. This gives us confidence that our concept of the project is correct. The complex will consist of two buildings (one with one entrance and the other with two entrances) located behind a common fence with a common parking area. It is envisaged that the first of them will be completed in spring 2016. Through the use of modern materials and technology will be provided a high-tech quality of life, coupled with traditional comfort that the company brings to its residential projects. For those who want to invest in rental housing we offer professional services in property management, and for the owners – the best management practices of condominium,” commented the CEO of the company Manyu Moravenov.