The company plans to raise 20m from Irish investors via a loan agreement structure, with an estimated 80% return forecast over the projected five-year term.

Monies raised will be used to buy at least three sites for residential development which, when built out, will be then sold to local buyers. The minimum investment in the scheme is 50,000, with multiples of 25,000 thereafter.

Prestige estimates that an investment of 100,000 (which does not include a 3% application fee) will return 174,600, before tax, in the fifth year.

The scheme will use nonrecourse financing of up to 70% of the total construction costs to help fund the development, with the original investment capital of 20m used to buy the various sites.

Prestige will offer the scheme to its own private high net-worth investors and it will also be available through select investment and pension advisers nationwide.

Returns are not guaranteed, but investors have ranking priority and receive repayment with interest before any profits go to the developers and promoters.

The Polish economy has been performing well of late and this has led to a significant rise in demand from local residents for high quality western-style residential property, most notably in the capital, Warsaw.

As a result the mortgage market is one of the fastestgrowing sectors in the country and local buyers are becoming increasingly prominent, having access to 100% home loans.

The population of Warsaw is increasing by 100,000 people every year and the Housing Research Institute has estimated that there is a shortfall of 1.5m apartments in Poland, as eastern-bloc housing stock runs out.