SIB participate in launching a ER150m new Central and Eastern European Real Estate Fund

The Fund, which takes diversified exposure on developmental and income generating real estate assets in Central and Eastern Europe, has a term of five years.

The presentation, which was held at the Ritz-Carlton Bahrain Hotel and Spa, was also the first leg of a GCC Road Show, which will then move to Oman on Tuesday (13 May), to Abu Dhabi on Wednesday (14 May) and Dubai on Thursday (15 May).

Faisal Private Bank is the investment advisor of the fund, Sharjah Islamic Bank the lead sponsor, and Shamil Bank the sub-advisor and co-sponsor.

"We are very pleased with the response of the Bahrain market to this fund, which is aimed at an informed and sophisticated investor-base with very particular demands and interests. We have also been contacted by investors elsewhere in the region and expect a similar level of interest when we visit Oman and the UAE," said SIB Head of Investment Banking Group, Saeed M. Al Amiri.

He added: "Sharjah Islamic Bank, following its own due diligence study, opted to invest in this fund, which presents investors with a very interesting long-term opportunity to enter a fast-growing sector, in a part of the world which is experiencing rapid economic growth. We are confident that it will attract further interest from institutional investors from across the region".

Central and Eastern European countries have experienced dramatic economic developments, with inward investment flows to various sectors of the economy having clearly demonstrable effects on their real estate sector.

This fund is designed to benefit from this growth. The core asset markets of the Fund are Romania, Bulgaria and Poland.

Other target markets will include the Czech Republic, Croatia and Ukraine among others.

Mr. Saeed M. Al Amiri revealed bank's investment plans by saying that SIB has formulated an aggressive strategy aimed at diversifying in various investment sectors in and out UAE, to provide the growth oriented and secure investment products to the customers.