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"Corio has acquired a plot of land of 33,400 sq m in the city of Malatya. Malatya is a strongly growing city in Eastern Turkey with approximately 395,000 inhabitants. In cooperation with Acteeum Group a shopping center with approximately 50,000 sqm GLA, for which the commercial zoning has been obtained, will be developed. The development will take place under a cooperation agreement between Corio and Acteeum with the option for Corio to work together on the development of a number of shopping centers in Turkey with a total investment volume of approximately € 300 million. Acteum will be the developer. The total investment in the Malatya project is expected to be € 110 million and the net initial yield upon delivery is at least 8%, in line with Corio's other investments in Turkey. The opening of the shopping center project is planned in the second half of 2010. This transaction is in line with Corio's strategy to further strengthen its position in Turkey; the Malatya center will be Corio's ninth shopping center in Turkey". (CS della Società)
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