AG Capital
Group Parent

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.