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Sonae Sierra, ING pre-let 40% of south Italy mall at construction start
The new 38,460 sq.m. shopping centre Le Terrazze being developed by Portuguese group Sonae Sierra and ING Real Estate Development in the southern Italian town of La Spezia was already 40% pre-let at the start of construction in December, the firms said. "Given the current economic situation, we believe this is a very good achievement," said Sonae Sierra CEO Álvaro Portela, a 20-year veteran of the industry. (See upcoming PIE editions for full story)