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NBD Launches Europe RE Fund

DUBAI-The National Bank of Dubai launches its first real estate fund focused on Europe. The closed-end fund will invest in office, retail and industrial properties.

By Brian K. Miller | Updated on September 26, 2005

DUBAI-The National Bank of Dubai has launched its first Europe real estate fund. The bank says the fund is a response to investor demand for real estate investment opportunities in Europe.

The closed-end fund will invest in office, retail and industrial. Half of the money in the fund will be invested in an established CIT UK Investment Fund and the other 50% will be invested in mature European (Euro zone) markets.

Of course, the bank says it plans to acquire properties with strong rental earning profiles, opportunities for income enhancement and sustainable capital growth. Investors will receive a quarterly income coupon plus a capital distribution when assets are sold.

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