[{"text_idx": "#000003", "text": "The real estate sector is one of the most leveraged sectors. Therefore, sudden changes in interest rates and availability of credit have a direct impact on this sector. Higher interest rates are also reflected in the increased financial costs of EfTEN United Property Fund\u2019s subsidiaries and underlying funds, where the weighted average interest rate increased by 1.3 percentage points in the first half of the year. In addition to the increased financial costs, the weighted average interest rate of capital (WACC) used to discount the cash flows of real estate investments also depends on the market interest rate. Its increase generally leads to a lower fair value of real estate investments. Thus, the value of real estate investments belonging to the fund\u2019s subsidiaries and the underlying funds decreased by 0.9% after the regular evaluation that took place in June"}, {"text_idx": "#000004", "text": "In the first half of 2023 the biggest developments took place in the Uus-Ja\u0308rveku\u0308la residential development. In February, the municipality of Rae issued building permits for the first stage of the development, and the corresponding construction works were started. In April 2023, Uus-Ja\u0308rveku\u0308la OU\u0308 signed a loan agreement with Coop Pank AS to finance the construction phase. In May and June, in addition to the existing terraced houses the first 10 semi-detached houses were added for sale, half of which were booked by customers in two months."}, {"text_idx": "#000005", "text": "In the first half of 2023, the fund made the largest two distributions since inception to investors in the total amount of 1.04 million euros (584 thousand euros in January and 451 thousand euros in June), or 0.417 euros per unit."}, {"text_idx": "#000007", "text": "Statement of the comprehensive income"}, {"text_idx": "#000011", "text": "Kas soovid va\u0308rsket kinnisvarainfot meilile?"}, {"text_idx": "#000012", "text": "Sisesta e-posti aadress ja ole kursis kinnisvaraturu liikumistega!"}]