ADCM signs investment management agreement with Injaz Eastern European Property Development Company
Dubai, UAE; December 03, 2014: Abu Dhabi Capital Group (ADCM), the investment management arm of Abu Dhabi Financial Group (ADFG), a multi-billion dollar alternative investment firm primarily focused on financial services and real estate, today announced that it has signed an investment management agreement with Injaz Eastern European Property Development Company Limited (IEEPDC) to develop and operate its portfolio investments, which include land assets with unlimited potential, in Lucice, Montenegro and Arkutino, Bulgaria.
With a strategy to develop the prime acreage into villas, apartments, hotels, tourist resorts and related amenities, ADCMs will capture the fervent growth which has been prevalent in the regions tourism market over the last five years. According to the European Commission, the tourism sector in Eastern Europe has grown nine percent in the last 12 months, with similar levels projected to be sustained long into the future.
Jassim Alseddiqi, CEO of Abu Dhabi Financial Group, added: The investment management agreement signed with IEEPDC provides ADCM with a unique opportunity to develop and manage first class assets in Eastern Europes dynamic tourism sector. Through ADFGs office in Montenegro, ADCM can access a team of experts who possess an unmatched understanding of Eastern Europe which will ensure that this project is delivered with the quality and distinction which complements the natural beauty of the two locations.
ADCM has an exceptional reputation of sourcing exceptional investment opportunities that deliver superior returns. This investment management agreement with IEEPDC continues this track-record of success and will create long-term value for existing shareholders of IEEPDC."
ADFG has demonstrated persistent, strong performance operating in Eastern Europe, a geography which continues to display extensive economic growth, particularly in the tourism sector. In October 2014, ADFG launched its office in Podgorica, Montenegro and has a team of experienced senior investment professional and project managers, with in-depth local expertise, to source and manage deals in the region.
Early in the year, ADCM announced that it had signed an agreement to invest in building a business hotel in the Atlas Capital Center, Montenegro. The six-story hotel, which is located in a mixed-use complex with luxurious apartments, offices, embassies and retail, is expected to be completed by the end of 2015.
Headquartered in Abu Dhabi, ADFG is a multi-billion dollar alternative investment firm with operations encompassing investments, asset management, advisory and research, financing and structuring solutions, securities trading, and real estate development. ADFG is a pioneer in alternative investments with a focus on financial services, real estate and debt investments.
