And at the end of the summer active agricultural season, investors continue to trade in arable land.
In August, REITs bought 1,230 decares of agricultural land from Advance Terrafund at an average price of BGN 1,868/acre, which is the highest price since the beginning of this year.
In the eighth month, the special investment purpose company had no sales.
The company’s activity is related to buying, renting/leasing, consolidating and selling agricultural and urbanized lands in Bulgaria.
As a result of these transactions, as of the end of August, Advance Terrafund owns a portfolio of 186,726* decares of agricultural land and 60.8 decares of land in urbanized areas.
For the processing of these fields, the agricultural fund has entered into lease/lease contracts with 446 farmers who mainly produce grain and oil crops.
The expected revenues from the largest public company, owner of agricultural land in the country, for the 2021-2022 economic year are in the total amount of BGN 6,020,191, of which 51.3 percent have been collected in advance.
For the previous agricultural year 2020-2021, a total of 90.2% of the receivables entered the company’s coffers, and for 2019-2020 – already 98.6 percent.
* Lands sold on deferred payment while owned by the company are also included