Meinl European Land of Austria wins public tender in Turkey, will invest 118 mln eur
Posted by meb at March 22nd, 2007
Austria-based Meinl European Land said it won a public tender for developments in the Central Black Sea city of Samsun. Meinl said it will invest 118 mln eur to develop a shopping center and a five-star hotel in the city.
Meinl European Land is a leading real estate company. It was founded in 1997 and has been listed on the Vienna Stock Exchange since 21 November 2002. Being a corporation, Meinl European Land combines the advantages of real estate ownership with those of securities. That means secure long-term investment possibilities in which your capital is available to you at any time.
At present, Meinl European Land owns 150 “operating” retail properties with a gross letable area of approximately 850,000 sqm and an estimated market value of more than EUR 1.4bn. Furthermore, the portfolio includes 36 committed development projects with a total value of approximately EUR 3.1bn. Following a continuously growth Meinl European Land is active in 11 countries in Central and Eastern Europe: Czech Republic, Hungary, Slovakia, Poland, Romania, Russia, Latvia, Turkey, Estonia, Ukraine and Bulgaria. The portfolio has a total value of around EUR 4.5bn.
In addition the group has a pipeline of future property projects with a total value of approximately EUR 1.9bn, whereof a project volume of around EUR 1bn is already in advanced due diligence. The further portfolio may also include several urban development projects, which are being assessed at the moment.
source: The New Anatolian
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