Japanese financial group Aruji will set up a fund worth 200 billion Japanese yen (over $1.85 billion) for investments in Russian real estate, the president of Aruji Gate Securities Inc. said on Tuesday.
"The registration of a fund for investment in Russian real estate, Aruji Real Estate Investment Fund, for operation over a five-year period (with an option to continue the term of its operation to 15 years) is at the concluding stage. The fund's shares/units will be offered to Japanese investors as early as July-August," Takuji Asaga said.
Takuji said the fund will be the first financial product in Japan aimed at raising capital for investment in the Russian property market.
