RREEF has made its first investment in the Cypriot real estate market with the acquisition of Lanitis Development, a publicly-listed real estate development company, whose main asset is the Aphrodite Hills resort. RREEF, the real estate fund of Deutsche Bank, is making the purchase through a joint venture with the Lanitis Group. RREEF holds 75% and Lanitis Group 25% of the joint venture which has bought 97.9% of the share capital of Lanitis Development.
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