AG Capital Strategic investor BLD
We are building value, investing in the future of the property market.
Over 25 years
experience in the real estate and finance sector
15+
companies in AG Capital's investment portfolio
200 000+ m2
completed residential and commercial space
1 bilion
BGN+ value of assets under management
Who we are
AG Capital is an investment holding company with over 20 years of experience in real estate and finance. We focus on long-term value growth through strategic investments, developing portfolio companies and building strong brands. Our approach combines vision, innovation and business responsibility. AG Capital's presence in various market segments makes us a stable partner for companies like BLD - boldly supporting the development of modern real estate projects.
Together, we are building a new quality of urban life.
Strategic cooperation with BLD
AG Capital is an investment holding company with over 20 years of experience in real estate and finance. We focus on long-term value growth through strategic investments, developing portfolio companies and building strong brands. Our approach combines vision, innovation and business responsibility. AG Capital's presence in various market segments makes us a stable partner for companies like BLD - boldly supporting the development of modern real estate projects.
Together, we are building a new quality of urban life.
Historia AG Capital
1993
In 1993 Christo Iliev, a young entrepreneurial spirit and second-year student, established Address Real Estate - an upstart residential brokerage business in the Black Sea city of Varna, the largest coastal city in the Bulgaria.
1996
The company expands into the second-largest seaside city - Burgas.
2000
By 2000, Address Real Estate is one of the top 3 brokerage businesses in the country with offices in the capital Sofia and all other major cities in the country.
2003
By the end of its first decade the company had expanded its services to the commercial and hospitality segments, launched a franchise platform and a licensing real estate training academy, as well as implemented the first ever property CRM system on the market.
2003-2004
In the early years of the millennium the company operated a network of 25 offices in Bulgaria and turned its sight to overseas markets. Offices were opened in London (Address Worldwide), Moscow (Domika), Serbia, and North Macedonia.
2005
2005 marks the establishment of Forton, in partnership with leading global consultancy Cushman & Wakefield. 20 years on the partnership is as successful as ever and Forton is one of the market leaders in commercial real estate advisory and consultancy services in the country.
2005
Establishment of AG Capital as legal entity and start of consolidating and structuring the Group under the new common parent brand.
2006
Establishment of Bulgarian Land Development PLC and listing on London Stock Exchange's AIM segment. The company's strategy aimed at developing residential and commercial properties in Bulgaria, with strong focus on holiday homes. By the time of its delisting in 2010 the company had bought ca. 200,000 m2 development land and sold 500+ apartments.
2008
By 2008 the Group had already expanded into a number of new business segments: Advance Valuations (2005 - valuation services), Credit Center (2005 - credit consultants), Unique Estates (2006 - premium properties), Facility Optimum (2008 - facility management), Frontex International (2009 - NPLs)
2012
After acquiring it in 2009, by 2012 BLD successfully completed the massive renovation and repurposing of the historical polygraphic building in Sofia city center, turning it into a Class A office asset, owned and operated by the Group to this day.
2013
BLD undergoes corporate rebranding and refocuses its business towards development of residential multifamily projects in major cities. During next 2 years the company successfully starts construction of its first 5 projects in Sofia.
2016
AG Capital partners with Apollo Capital Management and International Finance Corporation (World Bank Group) to co-invest in secured corporate NPL portfolios and distressed assets in Bulgaria.
2017
Lion’s Head founded in partnership with Old Mutual Property (part of Old Mutual Group, South Africa’s largest financial services group, est. 1845) with strategy to invest and manage core and core plus commercial assets in the CEE region.
2017
Establishment of Park Lane Developments, AG Capital's commercial development arm. Soon after, the company commenced the greenfield development of Park Lane Office Center in Sofia, successfully finished in 2021.
2017
BLD completes Alba, the first larger-scale development project in Sofia, awarded Building of the Year award for multifamily residential development.
2018
Establishing AG Capital's Bucharest office and acquisition of Oregon Park - a prime office project comprising 3 Class A buildings with anchor tenants Oracle and Deloitte, among others.
2020
Realto Group founded, consolidating all advisory and agency businesses of AG Capital under a sub-holding structure - more than 10 brands and 800+ professionals, providing property services with nation-wide reach. Today Realto Group is the absolute real estate advisory leader in Bulgaria.
2021
BLD completes Secret Gardens, the company's first luxury residential project in Sofia's Lozenets district, setting its flag in the Premium residential segment. In the same year the company achieved two major milestones - commissioned Sonata, its first 200+ apartments project, and passed the 1,000 apartments built mark since its repositioning in 2013.
2021
Park Lane Office Center sold to global software giant SAP - one of the largest single-asset transactions in the SEE region for the year.
2022
Secret Gardens wins the Best Residential Development prize at the European Property Awards gala in London.
2022
Inauguration of BLD Living, the Group's Built-to-Rent platform and first project of 65 fully furnished units in BLD's Mona 2 project.
2022
First international expansion of BLD with the opening of its Warsaw office, aiming to enter the highly competitive Polish residential development sector and establish a permanent CEE presence.
2024
BLD launches its largest-ever mixed-use project - Uptown Square. Once finished the project will offer more than 500 premium apartments and commercial areas in excess of 5,000 m2, with total GBA exceeding 100,000 m2.
2024
Lion's Head, AG Capital's commercial investments platform, in cooperation with IFC, acquires BPD for EUR 71.4 million, entering a new asset class and becoming the second-largest industrial properties owner in Bulgaria. At the time of the transaction BPD's portfolio consists of 3 operational large-scale logistics parks in Sofia, Varna, and Ruse.
2025
In 2025 BLD launched the construction of its first residential development project in the Polish capital - Ivory, located in the premium district of Saska Kepa.
2025
Lion's Head enters the Romanian industrial property market by acquiring a 155,000 m2 land plot on the outskirts of Bucharest for developing a logistics project. In H2 2025 the first stage of the project was permitted and construction start is scheduled for early 2026.
2025
Park Lane Developments and Mitiska REIM establish a JV for development of retail parks in Bulgaria under the Estrea Park brand. Within 2025 the platform began construction of its first 2 projects in Sofia and Varna.
Our projects
Oregon Park is a Class A office property located in Șoseaua Pipera, in the heart of Bucharest’s New Business Core.
Oregon Park
Bucharest, Romania
Czytaj więcej
MEGAPARK is a class A office complex developed and built by leading Austrian property development and construction companies. It is situated in one of the most recognized Sofia office hubs on the main boulevard, which connects the city centre with the international airport.
Megapark
Sofia, Bulgaria
Czytaj więcej
Polygraphia Office Center is a Class A office property and landmark historic building with an outstanding central location. Sofia’s major cultural, government, commercial sites and the Borisova Gradina park are just a few minutes away.
Polygraphia Office Center
Sofia, Bulgaria
Czytaj więcej
AYA Business Center is the new large-scale office project of Park Lane Developments. The Class A office building is situated in one of the most desired living and business areas in Sofia – Lozenets – Haldilnika, just across from Park Lane Office Center (now SAP Center Sofia) – the company’s previous office project. The latter was also named Building of the Year 2021, and the largest investment deal on the Bulgarian office market for the 2019-2021 period.
AYA Business Center
Sofia, Bulgaria
Czytaj więcej
Park Lane Office Center offers 2,224 sqm floor plate, 3.10 m high ceilings, modern amenities and 380 parking lots. The building has been designed to meet all international standards and the LEED certification requirements.
Park Lane Office Center
Sofia, Bulgaria
Czytaj więcej
Boyana Senses is a high-end development project by Ultima. It embraces latest technologies to enable smart world-class living close to nature. The building comprises 27 luxury apartments and features the variety of stylish one-bedroom homes through stunning four-bedroom penthouses in a terraced-storey layout.
Boyana Senses
Sofia, Bulgaria
Czytaj więcej
Uptown Square is one of a kind mixed-use project spanning 17 acres, bordering Srebarna Street in one of the most desired living and business areas in Sofia – Lozenets Haldilnika. The new development will be aimed at home-buyers seeking a modern city lifestyle in the best of an all-in-one community environment. This by far has been the largest project BLD is undertaking.
Uptown Square
Sofia, Bulgaria
Czytaj więcej
Stellar is a residential complex inspired by the latest trends in urban residential development and architecture, with its iconic design, excellent location and fantastic views to the Vitosha mountain and the South Park in Sofia.
Stellar
Sofia, Bulgaria
Czytaj więcej
Slow Life District is located in the heart of the beautiful Vladaya-Priplat countryside, within less than a 20-minute drive from Sofia. With direct access to the A3 highway, the area makes a prime location, known for its clean air, magnificent forest and mountain scenery.
Slow Life Disctrict
Sofia, Bulgaria
Czytaj więcej
Secret Gardens residential complex has been designed with a vision for high-end modern urban living. With a beautiful landscaped garden, located on the hilltop part of Lozenets, it offers elegance, tranquillity and overlooks the busy downtown of Sofia and the Vitosha mountain.
Secret Garden
Sofia, Bulgaria
Czytaj więcej
AG Capital team
At AG Capital, we believe that the strength of any organisation is the people who make it up. Our team is made up of experienced leaders, visionaries and experts who build value, develop innovation and foster sustainability every day. Thanks to their commitment, we achieve ambitious investment goals and build long-term partnerships based on trust.
Christo Iliev
Founder and CEO of AG Capital
Georgi Pavlov
Chairman of the Advisory Board
Dimitar Savov
Member of the Advisory Board, Managing Partner BLD
Robert Martin
Non-Executive Member of the Advisory Board
Lahlou Khelifi
Non-Executive Member of the Advisory Board
Tanya Kosseva-Boshova
Managing Partner Park Lane Developments, Managing Director Lion’s Head
Ivaylo Vatev
CFO of AG Capital
Dobrin Staikov
Group Head of Capital Markets of Lion’s Head
Yordan Angelov
CEO Realto Group
Nikolay Dikov
Chief Operations Officer of Atland
Michaela Lashova
Director Ivestments of AG Capital
Atanas Belyovski
CFO and Board Member of BLD
Vladimi Gurdjieff
Director Logistics & Industrial properties at Park Lane and Lion's Head
Alina Necula
Managing Director, Regional Developments of AG Capital Group and Country Manager, Romania of Lion's Head
Ivaylo Mishev
Director CEE of BLD
Svetlana Yordanova
Director, Capital Markets of Lion's Head
Artur Lis
Country Manager Poland, Park Lane Developments
Dimitar Yordanov
Group Finance Director at Lion’s Head Investments
Valentin Rosu
Construction Director for Romania at Park Lane Developments
Theodor Iliev
Board Member at AGC and Managing Partner of Ultima
Rada Yosifova
Group Chief HR Officer
Lilia Banakieva
Group Chief Legal Officer of AG Capital
Irina Vasileva
Group Chief Legal Officer of AG Capital
Stoycho Tahtazhiev
Group Chief Accountant of AG Capital
Denitsa Kostadinova
Group Head of Marketing and Communications of AG Capital
Ludmila Savova
Director Strategic Business Development for Lion's Head and Park Lane Developments
AG Capital's diversified portfolio consists of five independent companies.
AG Capital comprises a group of specialised companies that together form a strong ecosystem of real estate, finance and asset management services. Each brings unique expertise, supporting our mission to build value in the market.
BLD is a residential property development company and one of the market leaders…
Lion’s Head is a real estate investment and asset management platform…
Park Lane Developments is a commercial property development company…
Atland Investments is a special situations investment firm acquiring distressed real estate…
Ultima Homes is an investment and development company, focused on..
