Who are we
ICPS is a small group of like minded professionals who have pooled
their skills, their experience and their knowledge to create a company which
aims to provide a highly value added, customer focused service in the
Bulgarian real estate market.
The company aims to become a reputable and established, but niche player.
We provides high quality consulting and brokerage services for
institutional and retail investors looking to buy a property
in Bulgaria, focusing our efforts on the 'international' segment of the
market.
We aim to become the leading service provider to this niche of the market
through our professional and highly motivated team where every member is
expected to maintain the highest standards of quality in service.
Our company will maximize your investments with minimum risk through its
well established relationships with leading Bulgarian developers and wide
range of carefully selected properties for sale. We provide with full
services and legal assistance during the whole process of searching and
acquiring real estate properties.
We differentiate ourselves from our competitors on the basis of:
Quality of service
- A superior understanding of the investor mind
- An in-depth understanding of trends and markets
- The ability to combine investor objectives to market trends in the
most optimum manner
- A disciplined approach toward business development
- Creation of reliable and sustainable procedures and controls within
our business processes
- Continuous monitoring of our processes in order to achieve
perfection of service for our clients
- A commitment to transparency
Our service
KNOW YOUR CLIENT
- We hold preliminary discussions with all clients in order to
understand their investment objectives
- We discuss the budget of the client and try to identify financing
needs where relevant
INVESTMENT ADVICE
- We carry out regular analysis of market trends in light of broader
macro and micro economic factors
- Based on the above and client objectives, we provide advice on the
relative merits and de-merits of investing in various projects and
properties
- We provide our clients analysis of returns on their investment along
with financial and non-financial comparatives with other options, thus
allowing the client to make an informed decision
TRANSACTION SERVICES
- We identify the project or property which best fits the investment
objectives of the client
- We negotiate on behalf of the client in order to obtain the best
possible price compared to the market
- We provide all necessary legal support that a client would need in
order to complete the transaction
- We agree payment/instalment dates which are mutually acceptable to
both the client and the developer
AFTER SALES SERVICES
- We will assist the client in letting and managing the property
- We will advise the client on how to structure his portfolio in order
to minimize tax liabilities
- We will advise the client in ways and means of taking advantage of
the double tax treaty
The market
There has been a steadily rising interest in the Bulgarian real estate
market since 2003. The interest has come mainly from the UK, Ireland,
Germany, Russia and Dubai. Investors have picked on this market for the
following reasons:
- Bulgaria is on course for EU membership in early 2007. Historic
trends in the real estate market in other countries which have gone
through this process (Hungary, Czech Republic) suggests that there will
be a steady increase in real estate prices, well beyond the accession to
the EU. This has already been demonstrated locally as prices have risen
approximately 30% to 45% in the last one year. This trend is expected to
continue well into 2007.
- Rental returns on property in Bulgaria is extremely attractive. An
average return on average properties is around 10%. The rental market in
Bulgaria is extremely buoyant. With business and tourism on the boom,
these returns are only expected to improve.
- Bulgaria is one of the most economically and politically stable
countries in the region. The currency was linked to the Deutsche Mark
since 1997 and then subsequently to the Euro. Inflation is low.
Political and democratic transition has been smooth and steady unlike a
few neighbouring countries.
- Membership of NATO this year has brought further stability to the
political system.
- The government has enacted strong laws which afford protection to
investment pouring in to the country from abroad.
New initiatives - Marina Cape
As a result of the trends in the market and the positioning of the
Intercapital, the group has launched some of its own projects in the market.
- Early 2004, the group acquired a large piece of land on the Black
sea Coast for developing a luxury holiday resort.
- The group is setting up a real estate investment trust which will be
floated on the Bulgarian stock market in January 2005.
- The trust will own the land and develop the resort. The resort will
be called ‘Marina Cape’.
- Intercapital will manage the project. Intercapital property sales
will broker the project for investors.
- Once the trust is floated on the stock exchange, shares will be
available for purchase by institutional and retail investors.
- At present the targeted equity of the fund is Euros 4 million.
- The Marian Cape project will cost approximately Euros 8 million. The
remaining funds will be leveraged of banks through agreements which have
already been put in place.
Intercapital Property Sales
4 General Parensov Street
Sofia 1000
Bulgaria
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