AIB Private Banking has launched a Japanese property fund, which it says offers Irish investors a unique opportunity to benefit from renewed growth in Japanese property.
The fund is seeking to raise a minimum of €40m, which will be used to attract further borrowings to create a fund of around €200m.
The investment period is expected to be 8 years, will target a 11% rate of return per annum, and will be run with local partner, Alpha Investment Partners, a subsidiary of Keppel Corporation.
Brian Nevin, of AIB Private Banking, said: 'The Japanese economy is going through a slow but steady recovery after many years of deflation, when property prices dropped by as much as 70%.'
He said the improved economic situation is reflected in rental growth and declining office vacancy rates.
