Real estate investment trust

A new era in real estate sales will commence next month as the Trade Ministry implements a new regulation for listings posted by real estate agents to be officially verified starting Sept. 15, aiming to combat fraudulent advertisements.

A deal between Prodea Investments, Lamda Development and Costeas-Geitonas School (CGS) for the construction of a new campus on the former airport plot at Elliniko on the capital's southern coast appears to be on the rocks, as sources have indicated that Prodea is unlikely to carry on with the plan.

Torunlar Real Estate Investment Trust plans to invest a total of 1 billion Turkish Liras (around $268 million) in three years, the company's chairman has said.

SOFIA (Bulgaria), August 8 (SeeNews) - A 5.54% rise in the share price of Bulgaria's First Investment Bank (Fibank) [BUL:5F4] helped the blue-chip SOFIX index of the Bulgarian Stock Exchange end the trading session on Wednesday in green territory, bourse data shows.

Turkish Airlines has established a new real estate investment trust company with a cash capital of 50,000 liras (around $13,000), Turkey’s flag carrier announced on Nov. 17.

Iranian businessman Mehrdad Safari has bought a total of 47 apartments in a luxurious Istanbul skyscraper for $90.6 million. 

The price does not include VAT, although the rate on many of the apartments will only stand at 1 percent, while a portion will be subject to 8 percent tax following a recent tax cut. 

SEE Link, a stock trading regional platform of Southeastern Europe (SEE) backed by the EBRD, has started to calculate its first two blue-chip equity indices.

The indices, SEE LinX and SEE LinX EWI, aim to enhance the visibility of regional markets, according to see-link.net.

President Klaus Iohannis has signed on Thursday the Decree for the promulgation of the Law on the stimulation of individual investors - business angels.

Photo credit: (c) Business Angels Romania Facebook page

At the end of 2014, publicly traded companies in Bulgaria registered a net profit of BGN 147.286 M, according to summary data from the regular survey of the annual financial results of the companies whose shares are traded on the Bulgarian Stock Exchange (BSE-Sofia).

The analysis is based on 287 financial reports, according to data of BSE-Sofia, as cited by money.bg.

Pangaea REIC, the real estate investment trust owned by Invel Real Estate Partners and the National Bank of Greece SA, aims to raise about 1 billion euros ($1.4 billion) to invest in Greece and Italy, three people with knowledge of the matter said.