Bulgaria's Advance Terrafund REIT buys 62.4 ha of land in Oct

At the same time, the company sold 0.06 ha of agricultural land at a price of 51,129 euro per hectare last month, Advance Terrafund said in a bourse filing.

The fund expects to book rental revenue of 4.85 million euro in the 2023-2024 crop year, which began on October 1, compared with 4.11 million euro in the previous crop year. By the end of October, Advance Terrafund had collected 18.2% of the rents for the current crop year and 63.9% for the prior one.

At the end of last month, the company owned about 17,563 ha of farmland and 6.08 ha of urban land. The average monthly price per hectare of acquired agricultural land grew by about 2% in October, after declining by 0.7% in September.

As of 0955 CET on Wednesday, shares in Advance Terrafund REIT traded 1.81% lower at 3.25 levs on the Bulgarian Stock Exchange.

($ = 0.9325 euro)