Abstract
In 2003, in order to stimulate the further growth of the real estate market and the development of the capital market in Bulgaria, the Bulgarian Parliament adopted a new law – the Special Purpose Investment Companies Act (the “SPIC Act”). The stated intent of the authors of the bill and of the Parliament is the encouragement, through this new law, of small and medium investors by allowing them to participate in large and profitable projects in the real estate sector. The SPIC Act regulates the regime governing the incorporation and the activity of real estate investment trusts (the “REITs”).
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Notes
- 1.
This law was first published in this country’s official gazette, “State Gazette” volume 46/2003 dated 20 May 2003. The last amendment was published in volume 77/2011.
- 2.
Statistical data is primarily taken from the Bulgarian Stock Exchange – Sofia, and the Bulgarian Financial Supervision Commission and is available on their websites: www.bse-sofia.bg, www.fsc.bg.
- 3.
This law was first published in “State Gazette” volume 48/1991 dated 18 June 1991. The last amendment was published in volume 20/2013.
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Valcheva, K. (2013). REITs: The Bulgarian Perspective. In: Sotelo, R., McGreal, S. (eds) Real Estate Investment Trusts in Europe. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-36856-1_14
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DOI: https://doi.org/10.1007/978-3-642-36856-1_14
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