28/12/2005
The Ottoman Fund, an investment company planning to back early stage residential property developments in Turkey, joined AIM today – following a £150 million placing at 100p.
Numis is both adviser and broker to Ottoman, which hopes to capitalise on the changing ‘economic and political climate’ resulting from Turkey’s eagerness to enter the EU. Sir Timothy Daunt, a former British ambassador to the country, is chairman.
Development Capital Partners will oversee Ottoman’s investments. Back in March the firm raised £50 million for a similar AIM-listed venture, Bulgaria-focused Black Sea Property. A stake in a new holiday apartment complex at the Pamporovo mountain and ski resort has since been secured for this fund.
Development Capital’s Tom Pridmore has high hopes for Ottoman too. ‘The second home/holiday market in Turkey is strong and is competing well against other similar destinations (Spain, Portugal, Croatia etc) where prices tend to be higher and undeveloped premium front-lines sites are rarer,’ he explains.
The shares edged up 6.5p to 106.5p in early trading.
Related Articles:
|
| 02/06/2008
|
| 21/01/2008
|
People who read this article also read ...
|
| 28/12/2005
|
| 28/12/2005
|
| 22/12/2005
|
| 05/12/2005
|
Looking for UK Company Formation Services?
Choose from a variety of the UK's favourite great value company formation specialists. Low rates and all the latest offers.
Looking for UK Company Formation
We have reviewed and sorted 423 odd links for uk company formation - the top 10 list is presented here.
Uk Company Formation
Looking for Uk Company Formation? Search over 15,000 sites with one click. Your source for everything under the sun.
