Central European property firm Orco Property Group said its revenues slipped 19.5% to EUR 47mln in the first quarter of 2008, resulting in a net loss of EUR 13mln compared to a profit of EUR 400,000 in the year-earlier period. Earnings before interest taxes depreciation and amortisation (EBITDA), at EUR 7.4mln, was in line with the year earlier figure.
Portuguese real estate investor and developer Bondstone is investing around €70 mln in a residential development in Belas Clube de Campo, municipality of Sintra, Portugal.
