Meinl European Land Limited

euro adhoc: Meinl European Land Limited
Meinl European Land continues expansion in Poland EUR 100 million shopping centre in Gdansk close to the "Solidanosc" shipyard

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Jersey, 3 January 2007. Meinl European Land will develop a 50,000 sqm shopping centre with an additional residental and office tower in Gdansk (500,000 inhabitants). Partner for this project is the Danish property developer TK Development. The land plot of 5 hectare, on which the centre will be developed, is centrally located, close to the old town and the main railway stadion. The area is also in direct neighbourhood of the shipyard in Gdansk, where the strike of the Solidanosc movement under Lech Walesa took place, which had a significant influence on the end of communism in Eastern Europe. Due to this fact the acquisition has also a symbolic character for the geographical focus of Meinl European Land. The total investment volume for the project, which will be completed until year end 2009, amounts to approx. EUR 100 million.

Shopping centre with extension potential in Radom In Radom, a city with 200,000 inhabitants, located 100km southward to Warsaw, Meinl European Land has acquired an existing shopping centre, which will be extended by a DIY market within this year. The total investment value amounts to EUR 20 million. Anchor tenant in the shopping centre is the German retailer Rewe. For the extension area a lease contract with the DIY operater OBI has been agreed.  Following these new acquisitions the portfolio in Poland, Meinl European Land`s second largest market, will have increased to almost EUR 1 billion.

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ots Originaltext: Meinl European Land Limited
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Further inquiry note:
Pleon Publico Public Relations & Lobbying
Mag. Claudia Müller-Stralz
Tel.: ++43 (0) 1/717 86 107

Branche: Real Estate
ISIN:      AT0000660659
WKN:        066065
Index:    Standard Market Auction
Börsen:  Wiener Börse AG / official dealing

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