Bulgarian REIT FairPlay Properties Buys Plovdiv Land Plot for 6.0 Mln Euro

Bulgaria has a VAT of 20%.

The land plot could accommodate retail, office and residential buildings with a combined built-up area of more than 100,000 square meters, the REIT said in a statement.

FairPlay is developing residential, office and retail projects in the capital Sofia, at Bulgaria's Black Sea coast and in local mountain resorts Bansko and Panichishte.

The REIT has said it plans to invest 73.6 million levs ($52 million/37.7 million euro) this year in the acquisition of land plots and in the development of sites it already owns.

The shares of the company last traded at 1.06 levs by 0940 GMT on the Sofia bourse, 14.3% down from the previous close.

(1 euro = 1.95583 Bulgarian levs)