Portuguese shopping centre firm Sonae Sierra and Caelum Development, a specialist retail developer in Eastern Europe have established a 50:50 joint venture for the development of Parklake Plaza in Bucharest. The project is one of Europe's biggest shopping centres with a total gross investment volume, excluding VAT, of some EUR 591mln. It is scheduled to open in April 2011.
Swiss real estate group Investis has boosted its real estate holdings with the CHF 139 mln (€149 mln) purchase of prime residential properties in Vaud canton.
