Skarbiec's new foreigner fund

On June 13 the Polish Securities and Exchange Commission (KPWiG) approved City Living Polska PIZAN, whose aim is to acquire apartments and then lease them through special venture companies. The fund's profits will come from capital appreciation over the next few years and rent from tenants. "The City Living Polska Fund will enable foreign investors to participate in the economic effects of the residential boom on the Polish market. Skarbiec TFI will manage the fund, by investing on the market and administrating the leasing process through the apartment fund. Foreign investors notice a great potential for this sector of the Polish market, so we expect great interest in certificates during the subscription," says Piotr Kuba, deputy president of Skarbiec TFI SA.