Ancoria Real Estate Funds in Bulgaria

Bulgaria just recently became a member of the EU. Developments in other EU countries that joined earlier show that land prices in and around the capital have a formidable potential.

Past records points to an excellent investment potential for land investments in Bulgaria.
 

To invest in land through an Ancoria Insurance fund will protect you from all legal claims that can arise as well as getting a tax preferred investment vehicle. The first Bulgaria Fund that Ancoria launched was quickly oversubscribed. Ancoria will launch additional funds as the opportunities arise. Bulgaria is a small country that has existed for more than 13 centuries in Europe, linking East and West. Bulgaria remembers ancient civilizations and great people that wrote its turbulent history. Situated in Southeastern Europe. Bulgaria occupies the northeastern part of the Balkan Peninsula framed by Romania in the North, Greece and Turkey to the South; whilst the Black Sea encompasses the East and Serbia and the former Yugoslav Republic of Macedonia cover the western frontier.

The population currently stands at 8 million with the capital and largest city being Sofia with a population of 1,5 million. Bulgaria is a member of the European Union as of 1 January 2007 and is preparing to join the Euro-zone. The entry to EU has meant an upswing for the local economy. Bulgaria will most likely play accelerated catch-up with the rest of EU the same way as for instance the Baltic States have done.

Professional management
Due to the owner structure of Bulgarian plots many smaller plots have to be assembled to make up commercially viable land. The negotiations and legal work necessary require expertise to be economically efficient. Likewise the handling of deeds and the assembly of all necessary permits etc can be very costly if done without the use of proper channels.

The company in cooperation with a competent real estate Chartered Surveyor has vast experience regarding the price of land and when to buy or sell. As an investor you will invest in a fund managed by Ancoria Insurance Ltd. You will thus be protected from all legal claims that can arise as well as getting a tax preferred investment vehicle. There is no tax on capital appreciation and you can designate your beneficiaries which, in case of death of the investor, will pass the fund shares free of tax to the beneficiaries. Ancoria Insurance Public Ltd is among the largest life insurance companies in Cyprus. It was incorporated 1987 and has more than 500 million Euro under management. Ancoria's first Bulgaria Fund quickly sold out with 1.9 million Euros in capital. The land investments were completed in December of 2007. In spite of the very short life of the funds they have shown a remarkable return of investment. (18% in the first six months, performance that more or less is expected to continue for the next 3-5 years.)

The fund is valued at every last business day of each calendar quarter. The Unit price is the value that Ancoria has valued the fund as per the Valuation day divided by the amount of units in the Fund. The unit price i.e. Net Asset Value per unit is available from Ancoria and published on Ancoria's internet web site. The property is valued by an independent real estate surveyor.

How do I invest?
Ancoria expects to launch new funds as new investment opportunities arise. The market is constantly monitored by our real estate Chartered Surveyor who makes sure that the plots of land that is purchased by the fund are in prime locations and at a good price. For information about current offers please contact Dr. George Georghiades on +(357)99695469 or georgegeorghiades@cytanet.com.cy

Each new fund that Ancoria opens will have its own rules of operation. Please read this and other conditions carefully before investing. To become an investor fill in the Application Form and transfer the amount you want to invest to Ancoria's bank account. Mail or fax the form to Ancoria and you will be contacted with details about allocation of fund units. Contact person at Ancoria Insurance is Maria Konomou on +(357)22 551 350 maria.konomou@ancoria.com