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.

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