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Ukraine has the potential to attract investors, but market players need to create professional investment structures with an acceptable level of corporate governance. This opinion was expressed by the speaker of UREC Innovations Conference 2011, Director of Imorendimento investment fund Matthew Gurney.
Among other conditions to attract capital into the country the expert named the involvement of a reliable local partner (Ukrainian company) and matching the quality of local assets with European standards (regarding their architecture, tenant mix and property management), reduction of currency risk and the ability to diversify investments by bringing multiple assets into one pool. Fulfilling these conditions, according to the expert, will bring to the local market investors-leaders, who will be a good example for other funds to follow. The activities of Imorendimento in Ukraine will be conducted in partnership with international consulting company GFive Development. «Imorendimentos task is to show a positive example for European investors, to prove that investments in Ukraine can be successful», - said Matthew Gurney.
The expert stressed that European investors now need to take into consideration a number of important issues related to economical and political development of the region. Important factors that influence the investment policy are consequences of the developing crisis, the difficulties within the EU, the prospect of creating of the Eurasian Union and the low level of lending to the real estate industry in Western Europe. These factors reduce the attractiveness of investments in assets in Western Europe in a short-term perspective. At the same time, European investors have substantial amounts of capital available, which should be placed, and which can be invested in real estate in other countries.
The strength of the Ukrainian market the experts see in potentially higher return on investments, faster growth of capital and rental growth. The most promising sectors for investments are, according to director of fund management Imorendimento, premium office centres, retail parks, shopping centres and hotel properties.
«We set to ourselves a challenging strategic task to create a new fund for investments in real estate in Ukraine. The strategy of the fund will include investments in income generating objects (this does not necessarily mean one hundred percent purchase), and in the assets under development (in a certain proportion). We have already started negotiations with several developers and property owners. In addition, we plan to provide services of creating and managing investment structures for individual clients according to international standards. These structures will allow users to increase the number of potential co-investors (buyers) of real estate portfolios, which have been commissioned or are in the process of development. Also, this will allow optimization of taxation in financial transactions related to project development and fund raising, to increase the transparency and quality management of clients' assets», - commented the purpose of the fund in Ukraine Imorendimento the CEO of consulting company GFive Development, Mabilio de Albuquerque.
«In any case, investors in any country want to be able to influence the decision-making process and to see a simple, transparent financial structure of the company in which they invest, as well as tax efficient schemes», - summed up his presentation Matthew Gurney.
