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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Bulgarian Prop. | BPD | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 16.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 16.50 | 16.50 |
| Top Posts |
|---|
Posted at 15/5/2008 19:17 by sbs Gavin Bradley, MD of Odessa Investment, talks about his company in , filmed at the recent show. This company is involved in property investments in Bulgaria and Romania. |
Posted at 09/5/2008 03:17 by energyi Vacation homes stay emptyDate: 03-03-2008 One of the main reasons for withdrawal of foreign citizens from the Bulgarian vacation homes market is the low rate of return, over construction of the resorts and the low quality of offered homes, revealed a report from UniCredit Bulbank. According to the bank return from investments in vacation homes varies between 3% and 5% and many investors start selling their property. The sustainable growth of the real estate market in the resorts could be supported with better investment climate. Still one third of the direct investments in Bulgaria come from real estate deals, UniCredit experts remind. |
Posted at 31/7/2007 12:30 by lbo SATURATION OF SUPPLY 'RUINING' PROPERTY MARKET IN BULGARIA'S BANSKO RESORT More than 100 three- and multi-bedroom apartments in Slanchev Bryag (Sunny Beach), Elenite and Dyuni Black Sea summer resorts have remained unsold for months, real estate website imoti.net said on June 21. According to the website, which focuses on Bulgarian real estate sector, this was a clear sign of stagnation in the market for big apartments in the leading resorts on the Bulgarian southern Black Sea coast. Imoti.net quotes Dinko Slavov, sales manger of Bulgarian Properties, who said that indeed stagnation existed but it was affecting areas in resorts far from the coastline. "Large vacation properties are being bought by wealthy investors, who are ready to spend at least 100 000 euro, but they look for luxury properties and buy apartments next to the sea," Slavov said. According to Dobromir Ganev, manager of real estate company Foros, "as a rule big vacation properties are hard to sell, because they are expensive". Ganev said, as many had predicted for years, that "the supply in Slanchev Bryag already exceeds demand". more>>>> PROPERTY FOCUS: Apartments in Bulgaria's coastal resorts remain unsold |
Posted at 28/10/2005 13:41 by energyi (a little dated- but still relevant, I think):Bulgarian Property Developments ("BPD") -------------------- BPD is a new fund with a mission to invest in Bulgaria. Established recently with £1.2 million plus of seed capital from a handful of wealthy private investors, the company is now seeking to round out its capital to £3-5 million as part of an exercise which should lead to it taking an Ofex quote before year end. Ivo Hesmondhalgh is one of two of the founders. He has a background in property, mostly in the UK where he has managed small scale property investment schemes for EIS and BES companies. Some months ago, he was asked by one of his friends, the head of a large global hedge fund, to travel to Bulgaria to investigate property related opportunities in that country. The visitors were encouraged by what they saw. During the trip, they met Philip Pashov, a Bulgaria who had worked in various governmental departments, dealing with Tourism and attracting foreign investments. The two hit it off, and with the prinicipal backing of their hedge fund friend, decided to launch a new company focussed on property opportunities in Bulgaria. Ivo will be involved in the fundraising, the strategy, and the final selection process. And Philp Pashov, will use his Bulgarian contacts and knowledge of the local scene to source opportunities. There are also two high profile Brits, as non-executive directors to assure smooth corporate governance. I found Ivo's views on prospective growth were somewhat less bullish than others I have interviewed. He said that the days of 30% per annum growth in property values were ending. He remains upbeat, citing a collection of reasons: low prices, location within the EU, a motivated and educated workforce, and the likely stream of future development aid, why Bulgarian property values should continue to rise in the medium to long term. A "double or triple over 6-7 years" would not surprise him, but the rate of increase, he thought, was slowing down to a more sustainable 10-15 percent per annum. Signs of a slowdown were already evident in the commercial sector, where rents have stagnated over the past 12 months, due to an excess supply of new properties around the ring road. BPD's approach is to focus on a niche: warehouses and distribution, which has not been overbuilt, and which is expected to show promising returns in the years ahead. As to location, they intend to focus on Sofia, and possibly the ski areas. The large number of new developments on the Black Sea, and uncertainties of locking in rental returns on seasonal resort investments, makes the coastal area less attractive. Varna has good potential, but more in its central city, not its resort areas. (More about the company's focus in the Prospectus, see below.) The biggest challenge for the company at this stage is raising capital. They are fortunate, in that they already have sufficient commitments to move forward and get the Ofex quote, but their economies of scale will improve dramatically if they hit their £3 million target. The company charges a management fee of 3%, so at the £2 million level, it pays only £60,000 annually. It also pays out a share of profits of 20%, but this will only be paid when realised, and so may be years away. Fortunately, in case the growth is slower than they anticipate, his other UK property activities should provide sufficient income for Ivo to keep his overall management business healthy. Not surprisingly, Ivo believes that an ideal first investment for someone interested in Bulgaria investments would be to take shares in a fund like BPD. If someone buys property by himself he has the problem of finding good value in an unfamiliar market with a different language and alphabet, the need to rent and manage the investment, and the hassle of setting up a Bulgarian vehicle, since non-Bulgarians are not allowed to own land directly. The Fund structure solves these problems and gives economies of scale. The experience and contacts of management will also help reduce the risks. Apparently, it is not unusual for Bulgarians to bump up their asking prices by a factor of 50% or more, when they discover that a foreigner wants to buy. There may also be some capital gains advantages when a UK resident buys BPD shares, and holds them, and then sells them as an Ofex or AIM quoted shares. Incidentally, an AIM quote is something that will be seriously entertained, when company NAV approaches £10 million, says Hesmondhalgh. Best capital gains, Ivo reckons, will come from land investments. And this is where the local expertise will be critical, since many Bulgarians are wary of selling to foreigners. BPD expects to announce a significant land acquisition soon, and this would boost its immediate prospects, since the land will be suitable for almost immediate development. Further out, they want to achieve a healthy balance between land and income generating properties. While land may generate stronger gains, it costs money to carry it, and the yields on a warehouse oor distribution centre could carry the land investments through the months needed to assemble attractive land packages, and/or through to development. It will be interesting to see how the stock market rates the BPD opportunity, since Bulgaria is certainly a hotspot for direct property investments. Those who seek to invest should know that there is a £5,000 minimum subscription, and the price is being held at 50P a share, the same level as management and founder investors have paid. And they will not need to wait forever to see a dividend. The company plans to payout 1/3rd of their distributable profits after year three. @: |
Posted at 29/9/2005 13:03 by traderabc I hold BKSA and BPD would like to buy another. Out of OCH and LCSS I'm more inclined to go for LCSS, my reason being Hoodless Brennon have told me they are 'involved' in OCH in some manner. Bitter experience tells me that where they go small investors like me must 'bleed'. Hence LCSS may be a better route for me to take. If anyone can offer any imput regarding these two, it would be appreciated,or should I just ignore them and increase my holding in BKSA as (so far)it is a 'winner' for me. I like this 'sector' ,to me it is a kind of 'hedge' against holding normal stocks. Having been to Bulgaria and having a few Bulgarian friends in the UK, I have increasing faith in that country,regardless of it obtaining EU membership. |
Posted at 22/6/2005 12:20 by roddyb 3 days of dramatic price swings and from the moment the price recovered to the issue price investors did nothing but SELL.I don't blame them but I cannot understand why MM's thought it was a good idea to push the price up when there were no purchases??? Everything about this share has warning signs, why don't the Board issue a progress report or some form of press release to salve the nerves of their own investors? - nothing makes sense. |
Posted at 18/6/2005 14:04 by peterstilgoe Accession may get delayed 1 year but it will happen, a year delay would suit me & other investors in BG property & land |
Posted at 26/1/2005 13:59 by isa23 More Housing Shares To AvoidMarket Comment By Maynard Paton "Observation over many years has taught us that the chief losses to investors come from the purchase of low-quality securities at times of favourable business conditions. It is then, also, that common stocks of obscure companies can be floated far above tangible investment, on the strength of two or three years of excellent growth... Most of these fair weather investments, acquired at fair weather prices, are destined to suffer disturbing price declines when the horizon clouds over -- and often sooner than that." So said Ben Graham in his masterpiece The Intelligent Investor. His advice would have steered investors far away from all the dotcom dross a few years ago. It should also prompt a wide berth from the embryonic, speculative and/or somewhat mysterious growth stories spawned by the current housing bubble, most of which will end up being the property equivalent of Jellyworks. Stratospheric UK prices have prompted many adventurous landlords to search overseas for new properties. Enter Bulgarian Property Developments (LSE: BPD.L - news) (LSE: BPD), which claims now is a 'good time' to be buying Bulgarian homes because of the country's steadily growing economy, prospective EU membership and (up to) 12% rental yields. BPD joined the stock market at the start of the year and aside from the money it raised, its main asset seems to be six plots of land near the Sofia ring road. BPD typifies that age-old bubble phenomenon of speculators piling into strange markets in distant lands and those tempted ought to read this first... then give the far-flung buy-to-lets a miss. United Carpets is due to float anytime soon and could also come a cropper in a housing bust. United has in the last eight years created an estate of 50 shops selling carpets, wood floorings and beds. Assisted by a franchise system, the site count is expected to double by 2008. But beware: if house prices go into reverse and mortgage equity withdrawals take a hit, spending on big-ticket home furnishings could very well evaporate. Beware too of Carpetright (LSE: CPR.L - news) (LSE: CPR), the sector leader that enjoys much greater management experience. A value of £20m is touted for United and going on market tradition, such a fast-growing specialist retailer will almost certainly sport a racy price to earnings ratio that allows plenty of downside. Finally, Trading New Homes (LSE: TNH), which floated last week, is another likely to provide serious disappointment when the public loses its lust for property. Details on the company are sketchy, but essentially its plan is to 'actively trade' off-plan and new-build homes. Apparently, the firm's trick with off-plan properties is to buy in early to secure a decent discount from the developer, which should then help to produce a profit after they're built and sold on. However, this so-called 'flipping' strategy seems a lot like the quick-buck 'stagging' that went on with Internet shares in the tech boom. The obvious problems with property 'trading' can be seen here and here... Suffice to say, anybody owning a collection of half-built homes when the housing music stops is in for big trouble. Details Share Price Market value Bulgarian Property 57p £5m United Carpets n/a £20m* Trading New Homes 105p £11m (*Estimated) More: Other Housing Shares To Avoid |
Posted at 06/1/2005 16:35 by energyi INTERVIEW WITH IVO...Bulgarian Property Developments ("BPD") -------------------- BPD is a new fund with a mission to invest in Bulgaria. Established recently with £1.2 million plus of seed capital from a handful of wealthy private investors, the company is now seeking to round out its capital to £3-5 million as part of an exercise which should lead to it taking an Ofex quote before year end. Ivo Hesmondhalgh is one of two of the founders. He has a background in property, mostly in the UK where he has managed small scale property investment schemes for EIS and BES companies. Some months ago, he was asked by one of his friends, the head of a large global hedge fund, to travel to Bulgaria to investigate property related opportunities in that country. The visitors were encouraged by what they saw. During the trip, they met Philip Pashov, a Bulgaria who had worked in various governmental departments, dealing with Tourism and attracting foreign investments. The two hit it off, and with the prinicipal backing of their hedge fund friend, decided to launch a new company focussed on property opportunities in Bulgaria. Ivo will be involved in the fundraising, the strategy, and the final selection process. And Philp Pashov, will use his Bulgarian contacts and knowledge of the local scene to source opportunities. There are also two high profile Brits, as non-executive directors to assure smooth corporate governance. I found Ivo's views on prospective growth were somewhat less bullish than others I have interviewed. He said that the days of 30% per annum growth in property values were ending. He remains upbeat, citing a collection of reasons: low prices, location within the EU, a motivated and educated workforce, and the likely stream of future development aid, why Bulgarian property values should continue to rise in the medium to long term. A "double or triple over 6-7 years" would not surprise him, but the rate of increase, he thought, was slowing down to a more sustainable 10-15 percent per annum. Signs of a slowdown were already evident in the commercial sector, where rents have stagnated over the past 12 months, due to an excess supply of new properties around the ring road. BPD's approach is to focus on a niche: warehouses and distribution, which has not been overbuilt, and which is expected to show promising returns in the years ahead. As to location, they intend to focus on Sofia, and possibly the ski areas. The large number of new developments on the Black Sea, and uncertainties of locking in rental returns on seasonal resort investments, makes the coastal area less attractive. Varna has good potential, but more in its central city, not its resort areas. (More about the company's focus in the Prospectus, see below.) The biggest challenge for the company at this stage is raising capital. They are fortunate, in that they already have sufficient commitments to move forward and get the Ofex quote, but their economies of scale will improve dramatically if they hit their £3 million target. The company charges a management fee of 3%, so at the £2 million level, it pays only £60,000 annually. It also pays out a share of profits of 20%, but this will only be paid when realised, and so may be years away. Fortunately, in case the growth is slower than they anticipate, his other UK property activities should provide sufficient income for Ivo to keep his overall management business healthy. Not surprisingly, Ivo believes that an ideal first investment for someone interested in Bulgaria investments would be to take shares in a fund like BPD. If someone buys property by himself he has the problem of finding good value in an unfamiliar market with a different language and alphabet, the need to rent and manage the investment, and the hassle of setting up a Bulgarian vehicle, since non-Bulgarians are not allowed to own land directly. The Fund structure solves these problems and gives economies of scale. The experience and contacts of management will also help reduce the risks. Apparently, it is not unusual for Bulgarians to bump up their asking prices by a factor of 50% or more, when they discover that a foreigner wants to buy. There may also be some capital gains advantages when a UK resident buys BPD shares, and holds them, and then sells them as an Ofex or AIM quoted shares. Incidentally, an AIM quote is something that will be seriously entertained, when company NAV approaches £10 million, says Hesmondhalgh. Best capital gains, Ivo reckons, will come from land investments. And this is where the local expertise will be critical, since many Bulgarians are wary of selling to foreigners. BPD expects to announce a significant land acquisition soon, and this would boost its immediate prospects, since the land will be suitable for almost immediate development. Further out, they want to achieve a healthy balance between land and income generating properties. While land may generate stronger gains, it costs money to carry it, and the yields on a warehouse oor distribution centre could carry the land investments through the months needed to assemble attractive land packages, and/or through to development. It will be interesting to see how the stock market rates the BPD opportunity, since Bulgaria is certainly a hotspot for direct property investments. Those who seek to invest should know that there is a £5,000 minimum subscription, and the price is being held at 50P a share, the same level as management and founder investors have paid. And they will not need to wait forever to see a dividend. The company plans to payout 1/3rd of their distributable profits after year three. To gain a copy of the Prospectus, or to learn more, Ivo Hesmondhagh can be contacted at the email or phone number given above at left. Or alternatively, Donald Mackinnon or Ken Vere Nicol at Matrix (phone: 0207- 734-8334) On: www.BulgariaHotspot. Here's the LINK: |
Posted at 04/1/2005 09:16 by mangal If you want a Property punt in the New EU countries - you can't beat this.Issue price 50p. First day of trading, 4 Jan 04, and already up a whopping 60% at close. This is what citywire said : "... as a member of the EU the value of Bulgarian property is sure to rise and BPD allows investors to profit from this without the legal and logistical difficulties of owning property there directly. ..." Other links/articles: Aim admission RNS: Pre-floatation article: (from www.BulgariaHotspot. Eastern European Property Boom (EEPB) thread : From The Observer, 12 Sep 2004: "Property prospects rosy on the Black Sea ": From Citywire, 5 Jan 2005, BPD - "Investors hot for Bulgarian property" |
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