Austrian-based Meinl European Land (MEL) will pay about EUR 122 mln for 90,000 m[sup]2[/sup] of land on the Asian side of Istanbul, Turkish newspaper Vatan reported. MEL has been awarded the property by the state-run Emlak Konut Gayrimenkul Yatirim Ortakligi and may develop a shopping centre and a residential complex on the site. The entire development will cover some 500,000 m[sup]2[/sup].
CDC Investissement Immobilier, the real estate asset management subsidiary of French financial institution Caisse des Dépôts, has inked a strategic partnership with Covivio in Germany.
