INTERNATIONAL. Al Badie Group (ABG) Property Development has confirmed plans to attract a broader European customer base, and has confirmed their sponsorship at Russia's leading luxury lifestyle exhibition - Extravaganza Moscow - taking place from 25-27 October.
The UAE has been catching the attention of both Russian tourists and investors alike, and it seems that ABG is now making its move to capitalise on that trend.
HE Mohammed Jo'an Al Badie, President of ABG, commented that the decision to purchase a property, whether for personal or investment purposes, is a rather considerable one to make. "Russia is one of our key markets, and in the last few years, Extravaganza’s visitors in Moscow have expressed increased interest in the investment projects taking place in the Emirates
Saturday, October 27, 2007
Wednesday, October 24, 2007
GE Real Estate Puts $50M Into Heitman
GE Real Estate, the world's biggest publicly traded real estate company, said in a statement Friday that it invested $50 million in Heitman Russia Property Partners, a new fund and its first in the country.
GE Real Estate, based in Norwalk, Connecticut, joins Chicago-based Heitman and two unidentified institutional investors in the fund, which will have $150 million in equity. Heitman will be acting manager of the leveraged fund, which will have a seven-year life.
GE Real Estate, based in Norwalk, Connecticut, joins Chicago-based Heitman and two unidentified institutional investors in the fund, which will have $150 million in equity. Heitman will be acting manager of the leveraged fund, which will have a seven-year life.
Friday, October 19, 2007
GE Real Estate Makes Debut Investment in Russia
RUSSIA—GE Real Estate announced today that the company has made its first real estate investment in Russia. The firm has invested $50 million in Heitman Russia Property Partners (HRUPP), a new fund that will have $150 of equity.
Along with GE Real Estate and two other institutional investors, Heitman LLC, acting as manager, is also taking a sponsor equity stake, aligning its interests with those of the other investors.
HRUPP will acquire development and renovation projects in several different real estate sectors, including multifamily. It is expected that HRUPP will commit circa 60 percent of its capital to development projects
Along with GE Real Estate and two other institutional investors, Heitman LLC, acting as manager, is also taking a sponsor equity stake, aligning its interests with those of the other investors.
HRUPP will acquire development and renovation projects in several different real estate sectors, including multifamily. It is expected that HRUPP will commit circa 60 percent of its capital to development projects
Monday, October 15, 2007
Russia's LSR Group Targets Up To $1.4 Billion At IPO
MOSCOW -(Dow Jones)- Russia's LSR Group Wednesday said it plans to float its shares in Moscow and London in a deal that could generate up to $1.4 billion to bolster the company's real estate and building materials businesses.
LSR, which operates in and around the city of St. Petersburg, plans to list 15% of its shares sometime in November, a person familiar with the situation told Dow Jones Newswires.
Banks organizing the offering have valued the company at between $8 billion and $9 billion, implying a deal size of $1.2 billion to $1.4 billion, this person said.
LSR, which operates in and around the city of St. Petersburg, plans to list 15% of its shares sometime in November, a person familiar with the situation told Dow Jones Newswires.
Banks organizing the offering have valued the company at between $8 billion and $9 billion, implying a deal size of $1.2 billion to $1.4 billion, this person said.
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