Posted by meb at July 9th, 2008

Dutch property group Corio NV announced on Tuesday the purchase of the Iskenderun shopping centre project in Turkey, adding that the company’s total investment is expected to be 116 million euros.

The 55,000 square meter (592,015 square feet) shopping centre has a predefined net initial yield of at least 8 percent, in line with Corio’s other investments in Turkey, and is expected to open in the first half of 2010, the Corio NV said in a statement issued on the company’s website.

The shopping center in Iskenderun, located in the southern Turkish province of Hatay, will be Corio’s tenth shopping center investment and aims to strengthen the company’s position in the country.

Turkey’s Yayla Group and Kalyoncu will construct the shopping centre.
source: Hurriyet daily

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