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Bulgarian property fund buys land for logistics center in Vidin
Local real estate investment trust has bought for an undisclosed amount a land plot near the ferry port in Vidin, on the Danube, which will be developed into a logistics center, the Bulgarian stock exchange said Thursday, January 25.
The 86,000 sq m land plot is occupied by 7 buildings with a combined area of 1,900 sq m.
The fund intends to build contemporary warehousing facilities that will be leased out.The fund is still in talks to buy a 1.5 ha land plot near the Sofia International Airport. The site could be developed into a logistics center if the sale price ensures the rate of return targeted by the fund.
The fund is also still in negotiations to acquire between 5 ha and 10 ha in Sofia for residential developments.
One of the fund’s projects in progress is a mixed-use building on 2.0 ha across from office property Business Park Sofia. The development is due for completion in 20-22 months.
The fund has on the drawing board a holiday village near Black Sea resort town Sozopol. It has bought a 3.0 ha land plot for the project.
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