Santander Mulls a Property Development Fund in Real Estate Push

Banco Santander SA is preparing a new fund to invest in property development in Iberia, according to people familiar with the matter.

The fund is set to be launched in the coming months, according to the people, who asked not be named discussing private information. The goal is to raise about €200 million ($239 million) — in line with previous real estate funds, — one of the people said. Santander may still change plans and the fund’s size.