Acquisition of Bursa Shopping Centre
Corio has reached an understanding regarding the acquisition of a
100%-interest in Bursa shopping centre in the city of Bursa. The
transaction will take place against a predefined net initial yield in
line with Corio's other acquisitions in Turkey. The development of
Bursa shopping centre with a gross lettable area of approximately
75,000 m2 has recently started. The expected opening date of the
first phase of 24,000 m2 will be at the end of 2008 while the
remainder is expected to be opened in the first quarter of 2010.
