Bulgarian Property Developments plc announced the appointment of Fairfax I.S. PLC as its nominated broker on 6th July 2006.

Bulgarian Property Developments plc floated on AIM in January 2005, raising £4.2 million net. A further £32.9 million net was raised by Fairfax I.S. on behalf of the company in January 2006. BPD is primarily focused on commercial property development as opposed to residential.
Inheritance Laws in Bulgaria have given rise to fragmented land ownership. There are therefore considerable difficulties in assembling commercially viable sites exist. BPD has taken advantage of this opportunity to consolidate small land plots into larger ones for commercial development and had previously acquired 33 plots in the Sofia area the majority of which have been consolidated into four sites for commercial development.

Following the fund raising in January 2006, BPD has been seeking to acquire larger sites for commercial development.

The company has a strong management team with cultural knowledge and good connections.

Listing Exchange: AIM

Listing Date: 04/01/2005

Funds Raised: £32.9m

Nominated Advisor: Matrix

Nominated Broker: Fairfax I.S. PLC