MANAMA, 12 May 2008 — A 150 million euro ($231 million) Central and Eastern European Real Estate Fund offers rare opportunities of growth to investors. Launched by the Bahrain-based Shamil Bank along with its two other partners, the Fund will target the high potential realty markets including Poland, Bulgaria and Romania. The fund offers expected IRR net to investors of 20 percent with target cash/yield distribution of 4 to 5 percent per annum starting at the end of the investment period.
Giovanni Perin, head of investment banking at Geneva-based Faisal Private Bank, said that Fund has already euro 50 million assets to start with.
Perin, who was joined by Abdul Hakim K. Al-Mutawa, head of private banking at Shamil Bank, and Saeed M. Al-Amiri, head of Investment Group Sharjah Islamic Bank, highlighted the growth opportunities in the Central and Eastern Europe in realty sector.
