Alle Storys
Folgen
Keine Story von Meinl European Land Limited mehr verpassen.

Meinl European Land Limited

euro adhoc: Meinl European Land Ltd.
Mergers - Acquisitions - Takeovers / Meinl European Land develops Shopping Centre in Russian thermal region: Shopping centre and retail park with 48,000sqm in Mineralnyye Vody

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
Company Information
31.08.2007
Jersey, 30 August 2007. Meinl European Land continues its expansion 
in Russia and develops a shopping centre with integrated DIY market 
and electronic superstore with a total lettable area of 48,000sqm in 
the region of Mineralnyye Vody in South Russia.
The planned shopping centre is located at the intersection of the 
regional cities Mineralnyye Vody, Pyatogorsk, Yessentuki, Lermontov 
and Kislovodsk. Meinl European Land has acquired a land plot of 23ha 
with zoning for commercial buildings in place. The shopping centre, 
which will be also the first major regional shopping centre in the 
whole region, has a catchment area of approximately 1 million 
inhabitants. As the region is well-known in whole Russia for its 
thermal spas the population is significantly higher during the 
tourist season. In particular the city of Yessentuki has been popular
as a spa resort since the time of the tsar and can be compared with 
Karlovy Vary in the Czech Republic. Consequently, tenant mix and 
offering will not only be adapted with regard to the local 
population, but will also take into account tourists´ needs.
Investment value approximately EUR 60 million - yield 13%
The investment value for the shopping centre will amount to 
approximately EUR 60 million and the expected yield is approximately 
13%. Start of construction is planned for beginning of 2008. By this 
time the Company expects to have approximately 60% of the project 
pre-let. The opening of the shopping centre is scheduled for the 
beginning of 2009.
With this new shopping centre Meinl European Land has extended its 
development portfolio in Russia to 16 projects with estimated total 
investment costs of EUR 1.6bn. An additional 6 shopping centres with 
a market value of approximately EUR 0.6bn have been in successful 
operation for some time already.
end of announcement                               euro adhoc 31.08.2007 10:53:56

Further inquiry note:

Pleon Publico Public Relations & Lobbying
Mag. Claudia Müller-Stralz
Tel.: ++43 (0) 1/717 86 107
mailto:claudia.mueller@pleon-publico.at

Branche: Real Estate
ISIN: AT0000660659
WKN: 066065
Index: Prime.market
Börsen: Wiener Börse AG / official market

Weitere Storys: Meinl European Land Limited
Weitere Storys: Meinl European Land Limited