Bulgarian Property Developments PLC said it has made two acquisitions worth almost 2 mln eur to increase its portfolio.

BPD said it bought a 53,676 m2 plot of land in Ruse, in the north of the country, for 1.40 mln eur excluding VAT.

BPD said Ruse is located at a point where a strategically important transport corridor crosses the river Danube by a rail and road bridge, making it an excellent location for distribution warehousing.

The plot is in the new Ruse Industrial Park, approximately one km from the bridge, and has already been provided with modern infrastructure by the municipality of Ruse.

BPD intends to construct approximately 18,000 m2 of warehousing and associated offices on the site over the next two years.

BPD has also purchased a 50 pct interest in the proposed development of a shopping centre in Sandanski, south west Bulgaria, from FairPlay Commercial for 560,000 eur.

The shopping centre will be developed in partnership with FairPlay who retain the other 50 pct of the project.

Construction is anticipated to commence in mid to late 2008, BPD said.