Austrian-based Meinl European Land (MEL) will pay about EUR 122 mln for 90,000 m[sup]2[/sup] of land on the Asian side of Istanbul, Turkish newspaper Vatan reported. MEL has been awarded the property by the state-run Emlak Konut Gayrimenkul Yatirim Ortakligi and may develop a shopping centre and a residential complex on the site. The entire development will cover some 500,000 m[sup]2[/sup].
Austrian-based Meinl European Land (MEL) will pay about EUR 122 mln for 90,000 m2 of land on the Asian side of Istanbul, Turkish newspaper Vatan reported. MEL has been awarded the property by the state-run Emlak Konut Gayrimenkul Yatirim Ortakligi and may develop a shopping centre and a residential complex on the site. The entire development will cover some 500,000 m2.
