Bulgaria Plans to Keep ADIS State-Owned

Bulgaria plans to keep the Domestic Diplomatic Properties Agency ADIS in state ownership.

The government decided at its weekly meeting on Wednesday to ask Parliament to adopt legislative changes that will put ADIS on the list of companies that must remain state-owned.

ADIS is a full service real estate company, managing its own property portfolio of more than 100,000 square meters.

The proposed changes to the Privatisation Law will ensure Bulgaria’s continued capability to meet its commitments under the Vienna Convention on Diplomatic Relations, the cabinet said in a statement.

ADIS will continue to rent out properties to foreign diplomats in Bulgaria for residential, commercial or administrative purposes as well as provide other auxulliary services to ensure favourable environment for the operation of diplomatic missions in Bulgaria, according to the statement.

ADIS was taken off the list of state-owned companies banned for sale in 2011. A privatisation procedure was launched the same year but it was suspended in 2013. The government’s sell-off body, the Privatisation Agency, planned to offer ADIS for sale again in 2015.