Prince Charles is planning to launch a £1bn property fund, the Tellesma Fund, which will invest in mixed-use urban regeneration and sustainable property throughout the UK.

The fund will concentrate on the regeneration of brownfield residential and commercial sites with a focus on launching environmentally friendly towns. The Prince is currently seeking investment in the Middle East where investors are continuing to see the UK as a good long-term investment opportunity. With the current problems in the property market land can be bought cheaply, and investors will hope to see land purchased by the fund increase in value over the coming years.

The fund will also have a role for the Foundation for the Built Environment, which is one of the Prince’s charities that promotes ecological ways of planning, designing and building. The Prince has long campaigned for sustainable development and 15 years ago helped to create the village of Poundbury in Dorset under strict sustainability principles.