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Corio NV (AMS:COR) Corio has acquired Tarsus shopping centre, a project of 25,000 m² GLA in the city of Tarsus, province Mersin, in the Eastern Mediterranean part of Turkey. In cooperation with ACTEEUM Group (hereafter: 'ACTEEUM') a shopping centre with approximately 25,000 m² GLA, for which the commercial zoning has been obtained, will be developed. The total investment in the Tarsus shopping centre will be approximately € 50 million and the net initial yield upon delivery is at least 8%, which is in line with Corio's other investments in Turkey. The shopping centre is expected to open in 2011. This transaction is in line with Corio's strategy to further strengthen its position in Turkey; the Tarsus shopping centre will be Corio's eleventh shopping centre in Turkey.
