- City Fajr Shuruq Duhr Asr Magrib Isha
- Dubai 04:25 05:43 12:19 15:46 18:50 20:09
Lewis Charles Securities Limited, the London-based investment house, yesterday launched $100 million (Dh367m) three-year closed-ended fund focused on Abu Dhabi real estate sector.
The Lewis Charles Abu Dhabi Property Fund will take advantage of the opportunities in Abu Dhabi presented by a chronic undersupply of housing and the population boom. The fund will be seeking to raise $100m from investors with a minimum investment requirement of $75,000 for individuals and $250,000 for institutions. The target IRR is over 25 per cent per annum.
The fund's Investment Manager – Lewis Charles Securities Limited is authorised and regulated by the Financial Services Authority (FSA) in the UK and has over $132m in assets under management.
Stavros Loizou, Investment Manager, said: "This fund presents investors with an opportunity to invest in an acute supply/demand imbalance opportunity over next three to five years in a politically-stable and business-friendly environment with the highest growth rates and GDP per capita in the world.
Colliers International – the Middle East based property appraisers – projects the acute supply/demand imbalance to be a shortfall of 100,000 units over the next two years.
The manager will focus predominantly on mid to high-end properties which will be attractive to both end users upon completion and investors during the off-plan stage.
Follow Emirates 24|7 on Google News.