The Company

Team »

Board of Directors

Christo Iliev – CEO and Executive Chairman, Main Shareholder


Golden Badge Award by the National Experts Convention – 2006
EVRICA Foundation Young Manager of the Year Award – 2004
NSNI Award for Significant Contribution to the Development of the Profession


Christo Iliev is the founder of one of the first real estate agencies in Bulgaria, which has transformed into AG Capital – the largest holding structure in Bulgaria and the region, focused on real estate. AG Capital now consists of 13 companies and employs over 850 employees. Mr. Christo Iliev is a founder and CEO of Bulgarian Land Development (BLD) – an independent company, listed on the AIM of the LSE. BLD was admitted to the AIM market in March 2006, following a share placing which raised net proceeds of £21 million.

Mr. Iliev has a Master’s degree in Marketing from the Economics University, Varna and OPM from the Harvard Business School. He is Certified International Property Consultant – CIPS.


Georgi Pavlov – Member and vice-chairman of the Board of Directors, AG Capital

Mr. Georgi Pavlov is Executive Director of AG Capital since November 2006. Before that he was member of the board and Director – Strategic Management & Business Development

In his rich working experience Mr. Pavlov gained knowledge and experience in different business sectors: real estate, industry, leasing and consulting in management, financial analysis and planning.

He was Development Director at Stara Planina Holding, a large industry group listed at BFB and at Spartak AD working in the machine sector. He was also Chairman of the Board of Directors of Leasing Company AD and Executive Director at Incom AD.

Mr. Pavlov has two Master’s degrees: a degree in Mathematics from The Sofia University “St. Kliment Ohridski”, and a degree in Business Administration from the City University – Seattle, Bulgarian Branch. Mr. Pavlov is an associated member of the Chartered Management Institute, Great Britain, and has numerous qualifications, among which is an ACCA certificate.

Dimitar Savov – Non-Executive Board Member, AG Capital

Mr. Savov has started his career in AG Capital in 2000. He has progressed from an Associate – Financial Analysis & Control to CFO, and later to an Executive Director of Address Group. In 2005 Dimitar Savov became a founder and Chairman of the Board of Directors of Forton International.

Currently Mr. Savov is a CEO of Bulgarian Land Development (BLD), and a Non-Executive Member of the Board of Directors of AG Capital.

Mr. Savov has a Bachelor’s Degree in Banking and a Master’s Degree in Finance from the Economics University, Varna. He is а Member of the Royal Institution of Chartered Surveyors (MRICS).


Sergey Koinov – Non-Executive Board Member, AG Capital

Sergey Koinov is Managing Partner of Forton since 2007. He has extensive understanding of the corporate sector in Bulgaria. He was a SAP Consultant at Siemens Business Services, followed by five years at sales and top management positions at IBM Bulgaria. Part of his professional experience was directly related to the management of projects in the regions of Central Europe, the Middle East, and Africa. He has worked with key clients in Bulgaria, Russia, Poland, and Hungary.

Mr. Koinov was managing an Energy Consulting Services Company, representing world technologies on Bulgarian market.

Sergey Koinov graduated from the American University in Bulgaria with BA in Business Administration and Applied Economics, and completed his MBA Financial Management at City University, Seattle. He is fluent in English, Russian, and German.

Since February 2013 Mr. Koinov is Member of the Board of American Chamber in Bulgaria.

Best Management Team of the Year 2006

AG Capital’s Board of Directors received the Best Management Team of the Year – 2006 award. The award has been granted by the leading Bulgarian business and financial media – The Pari Daily – organizer of several prestigious events such as: Bank of the Year, Top 50 Public Companies in Bulgaria and others.


Since the very first days the company has been conscious of the role of people as its most valuable and important asset. All through the way to becoming the largest real estate holding in Bulgaria, the Group has put the focus on the professional team as the driver to success.

In response to people’s involvement and dedication to the company’s success, the company has been constantly investing in every single individual by coaching and supporting their desire to constantly learn and develop.

Thus a competitive team of experienced professionals was built. Professionals who are ready to face the difficulties and to offer an entrepreneurial and innovative solution to any challenge.