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Sep 15, 2023 15:20 EEST
September 15 (SeeNews) - Bulgaria's Advance Terrafund REIT [BUL:ATER] said on Friday that it purchased 40.6 hectares (ha) of agricultural land in August, at an average price of 9,612 euro ($10,245) per hectare.
The company did not sell any agricultural land last month, it said in a stock exchange filing.
You can download the 2023 Agriculture industry in Southeast Europe report here
By the end of the review month, Advance Terrafund had collected 35.7% of the rents for the current crop year and 87.8% for the previous one, for which overall revenue from rents amounts to some 3.1 million euro.
The real estate fund expects to book rental revenue of 4.1 million euro in the 2022-2023 crop year, which began on October 1.
At the end of last month, the company owned some 17,458 ha of farmland and 6.08 ha of urban land. The average monthly price per hectare of acquired agricultural land edged up by 0.8% in August, after declining by 2.6% in July.
As at 1418 CEST on Friday, shares in Advance Terrafund REIT traded 0.59% lower at 3.38 levs on the Bulgarian Stock Exchange.
($ = 0.9384 euro)
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