Latvian Land Fund has purchased more than 300 properties – Financial News – Financenet

In the context of reverse leasing operations, the Latvian Land Fund has already acquired 58 properties on a total area of ​​1078 hectares for a total amount of EUR 3.6 million

In these three years, the land fund Latvia has rented 332 properties for a total area of ​​5768 hectares.

Three years ago, on July 1, 2015, the Latvian Land Fund, established to promote the protection and availability of agricultural land, the rational, effective and sustainable use of agricultural land and the maintenance agricultural land, was launched on 1 July 2015.

"The Latvian Land Fund and the Land Purchase Loan Program, which has become very popular with farmers, are two very effective support measures. which further stimulate the development of entrepreneurship in rural areas and have a positive impact on society.To achieve this goal, the strategy of the Latvian Land Fund plans to accumulate about 6,000 hectares of agricultural land of 39, here the end of 2019, renting them for agricultural activities, including 1,000 hectares of arable land, with the lease and the right of repossession to the property sellers.

The information provided by the management Latvian real estate fund manager – "Development and Financial Institutions" Altum – indicates that this current goal of business activity could be reached by the end of 2018. Once the existing goals achieved, new goals will be achieved. proposed to facilitate the return of farmland to agriculture and their participation in agricultural production.

Most badets of the Latvian Land Fund are leased to Latvian farmers. "Since October 2017, we have changed the terms and conditions, and for the past nine months the Latvian Land Fund has been offering farmers the opportunity to sell agricultural land to the Fund with the right to rent and buy back the seller or the tenant. The reverse rental service allows farmers to stabilize their production and organize their cash flow in the short term, especially after natural disasters, which provides a unique opportunity to organize the company without changing the structure. owners and without any other financial obligations. The demand for a reverse rental service is higher than originally planned.