Corio forward purchases Bursa mall in Turkey

The development of Bursa shopping center, which will have a gross lettable area of approximately 75,000 sqm, has started recently. The expected opening date of the first phase of 24,000 sqm will be at the end of 2008 while the remaining part is expected to be opened in the first quarter of 2010.
The shopping center will be anchored by a home furnishing store of 24,000 sqm, a hypermarket of 8,500 sqm and a DIY of 6,000 sqm. Maya Holding is the IKEA franchisee for Turkey and since 2003 they have opened two IKEA stores in Istanbul and one in Izmir.
Bursa shopping center will be acquired on a turnkey basis after full completion early 2010. Maya and Corio will be jointly responsible for the letting of the shopping
center. After delivery, Corio will manage the shopping center in-house.