Investment Objectives and Policies
Pursuing a significant capital growth through early stage investments in real estate, mainly sophisticated hotels, shoppingmalls, commercial centers and residential developments mainly in the regions of Europe, the Russia, the Baltic States and former states of CIS .
The financial crisis of 2008 had a serious impact on the real estate market, creating a strict selection of players in the sector.
Today we are in the presence of encouraging signals of growth and the demand for hotels, shopping malls and residential units require a renewed business investment and real estate developments.
For this reason, the Fund invests and will invest mainly in hotels, shopping centers and residential developments with the aim of pursuing high returns and obtaining a capital gain in the individual phases of development operation, trying to minimize the risk of depreciation of the subject areas.
The Fund operates with the aim to hold down the risks through a policy of control of the bank debt and a careful selection of projects and local operators.
The Fund currently assesses the investment opportunities in relation to the costs and to commercial and strategical potential, and so it will in the future.
The Fund may also invest in minority interests in real estate companies, either listed or unlisted, and take liquid positions through money market instruments and fixed-term deposits.
Based on the performance achieved during each accounting period of the Fund and considering the possible need for new investments, the Directors have the right to recommend to the Company in general meeting to declare and distribute a dividend equal to 50% of the cash flows generated by the investments.