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Investors Rush to Emerging Markets ISTANBUL - Turkish Daily News Relying on Real Capital Analytics, or RCA, a research and consulting firm, the British newspaper said the volume of real estate deals in the industrialized world fell 54 percent in the first quarter of this year, compared to a year ago. But in the same period, the number of transactions in emerging markets rose 43 percent. A Citigroup survey of 50 leading pension funds in the United States and Europe, on the other hand, shows “portfolio managers want to commit some $370 billion to real estate during the next three years.” And the bulk of this sum is expected to go to the developing world. “Turkey has caught the eye of investors,” said the Financial Times. “Foreigners sank some $3.5 billion into Turkish property last year, up from $2.9 billion in 2006, Morgan Stanley reports.” As an example, the newspaper reminded that the Kuwait Investment Authority invested $750 million in the Cevahir shopping mall in Istanbul. The big winners are expected to be China, India, Russia and emerging economies of eastern Europe. “Investors believe emerging economies offer a great opportunity to grow capital,” said Dan Fasulo, managing director at RCA, to the newspaper. “The opportunities are overwhelming.” “Analysts at Morgan Stanley are so upbeat that they expect a boom in emerging market property over the next 10 years,” the Financial Times continued. “They think developing nations will spend $22,000 billion on core infrastructure projects during the period. About half of that will go towards construction.”
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