Celtic Property Developments S.A.

In early 2009 Celtic took a strategic decision to offer once again asset and fund management services for third parties following an absence of two years in undertaking such work under the Valad / IOG banner.

During 2010 the company looked after a total of ca. 500 properties having a combined value of ca. Euro 1 bln and geographically situated in Italy, UK, Spain, Poland, Belgium, The Netherlands and Ireland.

CPD completed a project to manage and dispose of part of a portfolio of 124 warehouses for TDG, the UK´s fourth largest distributor of goods and during and 18 month period disposed of assets with a value of £126 mln in the UK, Netherlands and Belgium before the company was sold by its owners.

CPD was also appointed to manage and dispose of 369 assets in Italy for the Spazio Industriale fund, and set up a team based in Milan which went on to complete sales of over € 250 mln.