The Fund’s residential building located next to the National Sports Academy registered 40% sales at rough construction
Sofia, 2015, July 30
FairPlay Properties REIT ended the first half of the year with BGN 2.2 million operating incomes and negative financial result to the amount of BGN 798 thousand. Net revenues from sales are assessed at BGN 2.178 million and thus have registered drop of 80% as compared to the same period of the last year. Revenues from sales of production are to the amount of BGN 864 thousand, or 39% of the operating income. They include revenues from reported sales of 7 apartments (in holiday village Santa Marina, Sozopol; holiday village Saint Ivan Rilsky, Bansko and Marina hill, Chernomorets). The other revenues are formed by rent and exploitation of investment properties and by insurance claims.
As of 30th of June the company has reported 20 new contracts for sale of apartments. Total value of the concluded contracts is BGN 2.9 million, VAT excluded.
In February the company started construction of a residential complex in Sofia, next to the National Sports Academy (NSA). At present the building is ready at rough construction and is expected to be fully completed by the spring of 2016. Meanwhile FairPlay Properties has concluded sales contracts for 40% of all apartments in this block.
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"FairPlay Properties” REIT is listed on the BSE – Sofia on 17th of February, 2006. Major shareholder in the company is “FairPlay International” with 56% share in the capital, the rest of the shareholders are institutional investors (10 pension, 15 mutual funds and 1 investment company) and over 340 individuals and legal entities, retail investors.
The projects of the Company have also received many prestigious awards, including:
• The Holiday Complex “Santa Marina” is the first Bulgarian holder of the prestigious award Prix d’Excellance Golden Winner, May 2014;
• The holiday village “Santa Marina” holds the great reward in the competition FIABCI Prix D’ Excellance Awards, April 2013;
• The Holiday complex „Santa Marina” was distinguished with the prize “Best Holiday Village 2010” from the Bulgarian Hotel and Restaurant Association;
• The holiday village “Santa Marina”, Sozopol owns the Golden prize “Best Project in Bulgaria” from the Russian magazine „Homes Overseas”;
• The holiday village “Santa Marina”, Sozopol is the holder of the award “Best Marina Project” from the international competition “Best project 2009”, organized in the frame of the year of Bulgaria in Russia;
• The project of the Company Hotel, SPA and Apartments “Saint Ivan Rilski”, Bansko was distinguished with an award from the Bulgarian Hotel and Restaurant Association for “Best holiday 4-star hotel in Bulgaria 2009”;
• The webpage of the holiday village “Santa Marina”, Sozopol was awarded as “Best website in the Real Estates category” from the international web festival “Albena 2008”;
• The larges project of the Fund – the holiday complex “Santa Marina”, Sozopol holds the prize “Holiday complex of the Year” from the competition “Building of the year 2006”.
The Company is a holder of plenty of prestigious awards such as:
• „Investor of the Year” in the Tourism sector for 2013 for the investment of the Company in the Holiday village “Santa Marina”, Sozopol;
• Second place in the Annual rating of Dnevnik newspaper – “Top 100 best companies on the stock exchange in Bulgaria in 2009” in the category “Best REIT”.
• „Best IR Website”, the Bulgarian Association of Investor Relations Directors for 2008;
• „Company with best Corporate governance for Special investment purpose Companies, 2006”, Investors Association in Bulgaria;
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More information:
Snezhana Yotinska, Investor Relations Director
Tel.: 02/ 8 199 121; e-mail: s.yotinska@fpp.bg
