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Corio to buy Turkey shopping centre for 65 mln usd, take stake in other project


Published : Fri, 02 Mar 2007 07:29
By : Agencies
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AMSTERDAM (AFX) - Corio NV said it will acquire the Adacenter shopping centre currently under development in Adapazeri, Turkey for about 65 mln usd.

In addition, the property developer said it will also take a 7 pct stake in 'potentially large scale' project Acibadem, to be developed in Istanbul.

Both transactions are expected to generate a net yield of at least 8 pct in the first full year of operation.

cornelia.messing@afxnews.com

cmm/hjp

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