Dutch listed property company Corio is to redevelop office building 'Le Newton' in Clamart, 10km southwest of Paris. The 12,000 m[sup]2[/sup] property was built in the mid 1960s and has been part of Corio's portfolio since 1999. Corio received planning permission to build a new 42,000 m[sup]2[/sup] modern office building on the 25,000 m[sup]2[/sup] site of the existing property after the tenant moved out. The project will be added for an investment of approximately EUR 120 mln to Corio's fixed pipeline. The redevelopment is expected to be completed in the first half of 2009.

Dutch listed property company Corio is to redevelop office building 'Le Newton' in Clamart, 10km southwest of Paris. The 12,000 m2 property was built in the mid 1960s and has been part of Corio's portfolio since 1999. Corio received planning permission to build a new 42,000 m2 modern office building on the 25,000 m2 site of the existing property after the tenant moved out. The project will be added for an investment of approximately EUR 120 mln to Corio's fixed pipeline. The redevelopment is expected to be completed in the first half of 2009.

Corio also announced it has signed an agreement to sell a floor of the 'Mar de Cristal' office building in Madrid to Axa Seguros e Invesrsiones for EUR 6.3 mln. The office building is next to Corio's Gran Via de Hortaleza shopping centre. Axa bought the building from Corio in February 2004. A vacant floor of 2,938 m2 was excluded from the deal at the time as the municipality had planned to use it as a metro station. Corio had the floor re-designated for offices as part of transaction with Axa after the metro plan failed to materialise.