LONDON (ShareCast) - Property developer Quintain Estates reports good progress during the third quarter and the start of 2008, despite the problems in the commercial property market.

The group has raised a further £300m of debt funding and said it will provide “the capacity to seize opportunities that arise as a result of the re-pricing of the investment market as well as extracting value from our existing portfolio.”

Funds under management increased to £972m from £895m. “Over the last three years we have repositioned our Investment Portfolio, reducing our level of exposure to the more traditional sectors and thereby mitigating the impact of current market conditions,” said chief executive Adrian Wyatt.

“The timing of our major special projects remains firmly within our control and we will manage the roll-out to suit our balance sheet, market conditions and competing opportunities,” he added.

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