Move to London for Cuban property fund backed by Aberdeen

Aberdeen Standard Investments is hoping to raise £100 million for Ceiba Investments, a property investment company. Furthermore, Aberdeen Investments is the largest emerging markets closed-ended fund manager.

Dutch based lawyer Sebastiaan Berger launched the company 17 years ago. The company owns a portfolio of hotels. e.g. the Miramar Trade Centre in the capital of Havana. Totalling to the value of £130 million. Subsequently, it is the largest fund exclusively investing in Cuba.

Expansion and refurbishment of The Meila Habana will occur. As well as other hotels. Plus three hotels in the coastal resort of Varadero. Which are located to an 18 hole golf course. The only one exist in Cuba.

Fidel Castro passed away two years ago. As such, Cuba would now like to open up their state-run economy. However, it doesn’t come without hostility from Donald Trump. Who has reversed the process of his predecessor Obama. Who had put steps in place to restore links with the communist regime.

donald trump

Raul Castro will be replaced by Miguel Diaz-Canel as president. A positive step. Which indicates Cuba’s constitution will soon comply with recent social and economic reforms.

Berger praises this positive news. He further states that “It is indeed a great time for growth in our company. Particularly during a time when the Cuban president emphasises the importance of foreign investment. Ensuring future economic growth and development.”

“We feel that this is absolutely worthwhile. Despite the amount of time needed to refine risk, rewards, opportunities and stability. Ensuring Cuba becomes a secure place for foreign investment”.

The team will transfer to Standard Investments. If success is achieved on the Stock Exchange. They will also be appointed fund manager for the country.

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Investors can expect a 4% yield annually. A reducation is unlikely after investment.

Meanwhile, N + 1 Singer is trying to fix the share issue. As well as marketing the fund to experienced and professional investors.

The target market for investment will tend to be:

  • Institutional investors
  • Professional investors
  • High net worth investors
  • Professionally advised and knowledgeable investors. Who have received appropriate advice and are aware of the risk

There has been a recent trend in overseas property companies moving to London. In order to attract UK investment. South African real estate company Stenprop took a dual listing in London. Additionally, the African real estate company GRIT is approaching the final stages of money raising for London listings.

Last year, Standard Life and Aberdeen Asset Management merged to form Aberdeen Standard Investments. It contains £15 billion of assets. And also manages 42 emerging market funds in the UK.

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