Italy's property firm Immobiliare Grande Distribuzione (IGD) has agreed to buy a retail park development in Spilamberto near Modena, northern Italy, from Le Alte. Construction is scheduled to start in 2008, with the park due to open in 2010. Total investment comes to EUR 60 mln. IGD will pay about EUR 3 mln after signing the purchase agreement and the remainder by 2009. The park will comprise 10 medium to large retail units, a restaurant as well as a gas station.
Italy's property firm Immobiliare Grande Distribuzione (IGD) has agreed to buy a retail park development in Spilamberto near Modena, northern Italy, from Le Alte. Construction is scheduled to start in 2008, with the park due to open in 2010. Total investment comes to EUR 60 mln. IGD will pay about EUR 3 mln after signing the purchase agreement and the remainder by 2009. The park will comprise 10 medium to large retail units, a restaurant as well as a gas station.