QINVEST establishes fund with local company to invest in Turkey
QINVEST Asset Management, a subsidiary of Qatari state funds, and RE-PIE founded Real Estate Investment Fund, they announced in a statement on Aug. 18.
Qatar’s Emir Tamim bin Hamad al-Thani paid a snap visit to the Turkish capital on Aug. 15 for talks with President Recep Tayyip Erdoğan.
According to the joint statement issued by Qinvest and RE-PIE, the fund will invest in commercial properties that have leased agreements with tenants in foreign currency.
Re-pie’s chair Emre Çamlıbel said: “With this fund we aim to attract more foreign institutional investors to our country and expand our investor base with regular coupon payments.”
“We believe that we will attract significant amount of foreign investors in the medium to long term,” he added.
The fund will invest in commercial real estate with long term foreign currency lease contracts, and will distribute the acquired rent to its investors in every three months. Target of the Fund is to distribute at least 7 percent foreign exchange-based rent over the principal amount invested by the investor.
Re-pie’s investors are 24 pension funds and 63 individual and institutional investors.
Considering that the $350 billion state fund of Qatar, a very serious potential that can be invested into Turkey, the statement said it is now expected that Qatar will ease the Turkish capital markets by investing in these days when the market conditions are difficult in their friendly country.