Bahrain’s Shamil Bank is to set up new investment fund of EUR 150mn to take part in real estate projects in Central and Eastern Europe in five years. Half of the money will be spent on the acquisition of existing assets. The partners of Shamil Bank are Shrjah Islamic Bank and the Switzerland-based Faisal Private Bank. The Fund has earmarked seven acquisition targets in Bulgaria , Romania and Poland to be acquired right after the financing is raised. Shamil Bank runs another investment fund (USD 90mn) in Turkey . Shamil Bank, and Faisal Private Bank are part of the Ithmaar Banking Group, specialised in both retail and business banking, and provides M&A, insurance, leasing, and real estate consultancy.
Source: Intellinews - Bulgaria Today