Another investment fund targets real estate

British company Collins Stewart Limited has voiced plans to launch an investment fund worth 20 million pounds (some 29 million euros), aimed at real estate projects in major cities from Turkey, Romania, Ukraine and Bulgaria, according to company officials. The money comes from the issue of 20 million shares to be listed on the Alternative Investments Market, administered by the London Stock Exchange. The company intends to invest in projects involving office buildings, as well as in retail, industrial and residential projects in the above-mentioned countries, with office buildings and retail space being its top priorities. The investment fund”s main operations will involve funding the acquisition of various projects or developing new properties. The fund will be managed by Collins Stewart Fund Management Limited, a branch of Collins Stewart Limited. Collins Stewart Limited is a subsidiary of Collins Stewart Tullett, a company listed on the London Stock Exchange. Collins Stewart has 400 employees and is based in London, Dublin and New York. The domestic real estate market has in the last few years become the preferred target of foreign investors, attracted by the high profit rates, compared to other markets in the region. In this context, several investment funds worth hundreds of millions of euros have been created especially for the domestic real estate sector. ZF