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Carrafiell: Local knowledge is vital to success |
The real estate investment management market has ballooned in recent years. According to figures from real estate services company DTZ, public or listed equity holdings in Europe were €148 billion in 2004 while privately held funds totalled €880 billion, of which €183 billion was held by pension funds. Both private and public equity – especially the latter given the continuing spread of real estate investment trusts (Reits) – are thought to have grown substantially in 2005.
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