MOSCOW, July 1 (RIA Novosti) - Japanese...

"The registration of a fund for investment in Russian real estate, Aruji Real Estate Investment Fund, for operation over a five-year period (with an option to continue the term of its operation to 15 years) is at the concluding stage. The fund's shares/units will be offered to Japanese investors as early as July-August," Takuji Asaga said.

Takuji said the fund will be the first financial product in Japan aimed at raising capital for investment in the Russian property market.

Asaga said the new fund will invest in commercial property projects in Moscow, St. Petersburg and the Russian Far East.

"Interest in Russia is swiftly growing as the Russian economy registers strong growth. It is clear that investment opportunities and products offered by the Russian market are attractive both for Russian and foreign investors, including investors from Japan," Asaga said.