Company's equity represents 1,007,193 shares with nominal value of EUR 0.51 per share. Since December 31st, 2012 major shareholders of CCB Real Estate Fund REIT have been CCB Group with 41.08%, and Armeec Insurance Company with 11.45%. Since January 31st, 2007 the shares of CCB Real Estate Fund REIT have been listed on the Bulgarian Stock Exchange - Sofia JSC.
The scope of business of CCB Real Estate Fund REIT covers investment of funds raised by public offering of securities in real estate through purchase of ownership and other property rights over the given estate, building construction and improvements with an objective of assigning their management, renting, leasing, and/or sale.
CCB Real Estate Fund REIT uses mainly its own funds for financing investments, however in the event of an attractive investment opportunity the company is in the position to easily raise funds through bank loan or securities emission.
The development of construction business and the real estate trade in Bulgaria over the last 15 years opened this sector for numerous Bulgarian and foreign companies, including real estate investment trusts. The participation of considerable number of competitors in the process of offering properties for sale or renting, as well as the risk of market price lowering and the investments return is one of the reasons CCB Real Estate Fund REIT to try to diversify its real estate portfolio by investing not only in residential, office and commercial buildings, but also in industrial sites and agricultural lands.
Projects
- City Hotel, a luxury high rise hotel project in Lozenets district, 5 minutes to Sofia downtown with a prestigious location. The TBA of the hotel is 40 220 sq.m, designed at 27 floors including 285 rooms, 2 restaurants, lobby bars, café, sport areas, conference halls and 3 underground parking levels. Current status of the project is conceptual design phase The forecasted construction budget amounts to EUR 44 million.
- Varna Sea View, mixed-use office residential and retail complex next to “Sport Complex Varna”, Briz district with planned office TBA of 12 515 sq. m and residential TBA of 45 150 sq. m. The exclusive high class office and residential environment combined with spot and leisure opportunities add value to the project.
CCB Real Estate Fund REIT is completing its investments program through its servicing company CCB Group JSC.
The depositary bank of CCB Real Estate Fund REIT is UniCredit Bulbank JSC.