Real estate company Magnat leaves Bulgaria, sells assets by end-2013.

By bne IntelliNews March 1, 2011
Germany's real estate company Magnat Real Estate plans to leave Bulgaria, as well as Germany, Poland, and Russia in order to focus on the rapidly-growing markets in Ukraine, Turkey and Georgia and potentially Romania, the company said on its website. Magnat plans to sell its projects and assets located in the countries it intends to exit by the end of 2013 starting early this year. Magnat entered Bulgaria in 2007 buying 75% of a residential project in Pancharevo, in the outskirts of the capital city of Sofia.

Related Articles

EC urges Bulgaria to comply with EU rules on free movement of capital.

The EC has sent a reasoned opinion to Bulgaria over failure to comply with EU rules on the free movement of capital, the EC said on its website. The privatisation act in Bulgaria introduces ... more

Govt seeks delay of antitrust rules violation procedure against Bulgaria.

Bulgaria will be seeking an extension of the court procedure filed by the EC against the country over irregularities found in the assignment of digital broadcast spectrum, transport minister ... more

Bulgarians hold EUR 100mn in deposits in Cyprus.

Bulgarian individuals and companies hold EUR 100mn in Cypriot banks according to ECB data, BTA reported quoting Reuters. The largest EU depositors in the crisis-hit country are Greece with EUR ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335