Share
The Public Enterprises and Control Agency (PECA) has increased its revenue by over BGN 40 million from the sale of properties, privately owned by the state or owned by commercial companies with more than 50% state participation, thanks to the electronic auction platform developed by Information Services. The additional funds were realised from the increase in the initially announced price of the properties offered at auction. The total revenue from electronic auctions of private state-owned properties or properties owned by companies with more than 50% state participation exceeded BGN 157 million, while the initial auction price for the properties was BGN 117 million.
Since the platform’s launch in 2019, nearly 400 electronic auctions have been held, and the total number of announced procedures exceeds 900. The number of participants in the electronic auctions exceeds 750, with an average of 6 bidding steps per auction.
“The established platform for the electronic sale of state properties eliminates the possibility of subjective interference in the auctions and pre-arranged pricing between participants,” said Ivaylo Filipov, CEO of Information Services. full transparency of the process, a significant increase in competition and a serious reduction in the administrative burden for citizens and businesses have been achieved. The system offers a significantly simplified process for reviewing documentation for upcoming auctions and admitting or rejecting candidates. The electronic auction platform greatly facilitates investors in planning their investment intentions and increases citizen satisfaction. The platform allows information on upcoming auctions to reach a wider range of stakeholders.
The electronic platform allows for an easy registration procedure for auction participants, as well as the work of the auction committees. The system allows participation by both individuals and legal entities. Initial registration and a Qualified Electronic Signature (QES) are required to access the platform and participate in the bidding.
The electronic auctions on the platform are open bidding and conducted in real time via a web browser. Bidders are anonymous and can bid in the e-auction from anywhere and at any time, saving time and money. All documentation is fully electronic and the system ensures the highest level of protection against replacement and/or loss of bids and documents.
Thanks to integrated time and content authentication service Time Stamp, the authenticity of the documents and bids submitted by the participants of the platform is guaranteed. The system automatically ranks based of the highest offered price, which significantly reduces the appeals of the procedures and guarantees the fairness of the auction.