Skarbiec gets off the ground with new investment fund

The fund will operate until the end of 2009, and the planned value of investment certificates is zł.35-100 million.

The funds' officials see the future in bright colors thanks to two factors. They expect to achieve considerable rebates on flat prices and better terms on loans in comparison to any individual customer. Moreover, according to the company's experts, the prices of apartments are expected to increase in the future by seven to 10 percent annually.

"We are going to focus our attention on the residential sector," said Jarosław Bauc, TFI Skarbiec Rynku Mieszkaniowego's CEO. "We are going to buy large parts or whole blocks at a time. We will probably also deal with retail space, but residential will be our main goal. We are expecting that, after four years of existence, we will be able to provide nine to 10 percent of the annual return's rate to our customers."

The fund will invest the money through a specially created network of companies. Investment targets will be chosen on the basis of analyses created by external real-estate experts.