UK company announces $100 million Abu Dhabi Real Estate Fund
Lewis Charles Securities Limited, the London- based investment house, announced the launch of The Lewis Charles Abu Dhabi Property Fund L.P (“The Fund”). The Fund was established in January 2009 with a strong regional focused board.
It is a 3-year closed-ended privately held exempt limited liability partnership investing solely in the Abu Dhabi property market. The Fund will take advantage of the opportunities in Abu Dhabi presented by a chronic undersupply of housing and the population boom. It will be seeking to raise $100 million from investors with a minimum investment requirement of $75,000 for individuals and $250,000 for institutions. The target IRR is over 25% 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 $132 million in assets under management. Speaking about the launch of the Fund, Stavros Loizou, Investment Manager said: “This Fund presents investors with an opportunity to invest in an acute supply/demand imbalance opportunity over next 3 - 5 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. Rental occupancy across the city is currently in excess of 98%”.
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. The Fund will seek to generate capital gains by trading properties to be built over the next 3 years in Abu Dhabi.
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