Dolphin Capital Investors, the largest residential resort investor in South East Europe, posted net asset value uplifts of 11% in the third quarter of 2007. The company said that its acquisition strategy made continuing progress during and after the third quarter, and that full-year sales by its Aristo holiday home development subsidiary were expected to surpass the 2006 level despite the impact of the credit crisis on UK buyers.
Dolphin Capital Investors, the largest residential resort investor in South East Europe, posted net asset value uplifts of 11% in the third quarter of 2007. The company said that its acquisition strategy made continuing progress during and after the third quarter, and that full-year sales by its Aristo holiday home development subsidiary were expected to surpass the 2006 level despite the impact of the credit crisis on UK buyers.
The company announced that EUR 190 mln of funds was yet to be committed but this would be done before the end of the first half of H1 2008.
Miltos Kambourides, managing partner of Dolphin Capital Partners, commented, 'Since 30 June, the company has continued to make significant progress with the design and permitting of existing projects and the expansion of its portfolio of assets in Greece, Cyprus and Turkey'.
'As projects start to reach permitting milestones and the market value of sea-front land in targeted regions rises, we are confident that Dolphin is positioned to continue to deliver strong NAV growth and generate value for its shareholders. As such we believe that its prospects are clearly differentiated from current difficulties in other mature real estate markets.'
