Bulgaria To Possibly Introduce Compulsory Consolidation Of Farming Land

Bulgaria must adopt a new legal mechanism to force land owners to consolidate their plots when 51% of them agree on such move, as proposed by Vesselin Petrov, Executive Director of the ELANA Property Management.According to the proposal, the remaining 49% of the owners would have to accept the consolidation regardless of their opinion.The proposal was discussed on Tuesday at a conference dedicated to investments in farm lands.Valery Tsvetanov, Bulgarian Agriculture Minister and Kamen Kolchev, Chair of ELANA's Board of Directors united around the idea that land consolidation was the main issue for Bulgarian agriculture.Kolchev further stated that the consolidation must become a priority for the next Bulgarian Cabinet.ELANA is one of the biggest non-banking financial groups in Bulgaria with 17 years of history in developing products and setting the trends on the local market in the areas of asset management, trading on financial markets, investment banking, business consulting, investment in agricultural land..ELANA has established one of the first licensed brokerage companies, asset management company and mutual fund as well as the first REIT investing in agricultural land.