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NL's Corio reorganises retail mall pipeline in Turkey
Dutch shopping centre FBI/REIT Corio has cancelled two mall developments in Turkey and planned total investment of nearly E80m, and is re-organising to take majority control of its pipeline there. A spokesperson told PFE the moves increase Corio's control over projects in progress. "We have much more experience in this business and that's why we decided to take this step now," she said. "With the crisis making business difficult we did not want to hold minority stakes in these ongoing projects, but need to control them fully." Corio has reached agreement with developers of the Akkoza and Akasya projects to cancel existing accords. (Register now for a trial subscription to read PFE 148)