Fairplay Properties Targets 10.4m Leva Profit In 2008

FairPlay Properties real estate investment trust (REIT) targeted a sales revenue of 42.46 million leva for 2008, the company said in a statement on March 21. The fund expects a profit of 10.4 million leva for 2008, compared to 8.8 million leva last year.

Some 98 per cent of the projected revenue will come from apartment sales, with the rest being rental revenue. Since the start of the year, FairPlay has signed contracts for the sale of 51 apartments worth a total of 8.3 million leva.

This year, the company has earmarket for investment a total of 73.6 million leva. Roughly 30.6 million leva has been allocated for the acquisition of new land plots, and the remaining 43 million leva will be spent on construction.propertywisebulgaria.com