Orco selling Bubny plot to JV with Unibail Rodamco

Unibail Rodamco is to take a 60% share in a new JV with Orco Property Group whose purpose is to develop a shopping center on 3.7 ha of land on Orco’s enormous Bubny plot in Prague 7. Orco has agreed to sell the land to the new joint venture, with the transaction expected to close in 2012. The shopping center is to be built by 2017.

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