FairPlay's Arena di Serdica hotel.

FairPlay Properties REIT will distribute at least 8 million leva as a dividend to its shareholders, which will come to 0.13 leva per share if the whole recently launched issue is subscribed. The company’s annual report on 2007’s financial performance shows that the profit for distribution is almost 8.87 million leva.

The fund’s net profit for 2007 peaked up at 11.128 million leva, thus marking a 13-fold increase on previous year, and sales revenues reached 47.864 million leva, which is 20 times higher than 2006’s results.

The company’s overall performance in 2007 surpassed the November’s forecasts by eight per cent, because the number of apartments sold in Santa Marina holiday village in Sozopol during the last quarter of the year was larger than expected.

Revenues from apartment sales in 2007 come to 43.298 million leva and account for 90 per cent of the total revenues in the REIT’s report.

The company starts 2008 with more than 5 million leva in profits, already secured from sales and is resuscitating its sales in Bansko. Considering the new projects in Sofia, Sapareva Banya, Sandanski, Panichishte, Chernomorets and Sozopol, it is at the forefront of another prosperous year, said Manyu Moravenov, CEO of  FairPlay Properties REIT.