Investment of E 24 million in Industrial Park Zabalj – Vojvodina (Serbia)

Amsterdam, June 6th, 2007 – Eurasian Real Estate (ERE) announces that it will start the development of 42 hectares of land, together with Walschot Invest, for the joint realization of a Industrial Park in Zabalj, Serbia. The initial investment amounts Euro 24 million for land, infrastructure works and property development. In time, the total investment in industrial space will be over 150 million Euro.

The site is located in Zabalj, 65 km from Belgrade and 20 km from Novi Sad. The Park will face the new projected motorway from Belgrade to Timisoara, close to the junction of the present motorway from Belgrade to Budapest. Proximity to both the Hungarian and Romanian border, as well as Trans-European Corridors VII and X, serves international tenants’ operations.

Construction of the first stage of 20 hectares will start in June 2007, with master planning and ready-to-build land delivery. Construction of a 10,500 m2 multifunctional warehouse will start in Q4, 2007. In total, the first stage will accommodate over 100,000 m2 of light industrial and warehouse space, whereas the full park’s capacity amounts to approximately 200.000 m2 of space built.

Rick van Heumen, Managing Director of ERE, notes that the supply of modern warehouse space in Serbia remains constrained. Demand, meanwhile, is significantly increasing due to strong GDP growth, demographic and consumption factors, as well as the country’s further orientation onto Europe. He says: “ERE’s Industrial Park Zabalj in Serbia is an integrated Industrial Park, providing both national manufacturers and international distributors improved efficiency, as they seek to increase their reach and presence in the region.”

The Groundbreaking Ceremony of Industrial Park Zabalj will take place on June 14th, 2007.

Eurasian Real Estate is a pan-European developer of industrial parks and shopping centers, mostly focused onto Eastern Europe. After Russia and Romania, Serbia is the company’s third country of industrial park development.

Walschot Invest is a company of Dutch origin, specialized in Serbian real estate investments.

Appointment Mr. Leo Voorpijl to the Management Team

Amsterdam, June 4th, 2007 – Eurasian Real Estate (ERE), a developer of industrial, residential and retail property in Eastern Europe, announced the appointment of Mr. Leo Voorpijl as of June 1st, 2007, to the position of Investment Analyst. He will join the company’s Management Team and will be responsible for project feasibility decisions and site selection throughout South-Eastern Europe.
Mr. Voorpijl previously worked for Slough Estates International (SEGRO).

Coman develops a new city in Turkey

Source: Cobouw; June, 2nd 2006

Coman develops a new city in Turkey

From our reporter
Elsloo – Engineering consultancy “Coman Engineering & Contracting” will sign a memorandum of understanding with a delegation from Turkey today in a Southern village of the Netherlands, Elsloo.This letter of intent will envision the development and construction of a city in Turkey with 20,000 houses, several malls and affiliated facilities. The letter of intent will be signed by the Major of Gürsu,Eurasian Real Estate and Coman Engineering & Contracting. The Major of Stein, Mr. Barske and a delegation of Ankara will also be present during the signing.

The total development volume for this newly development property has an estimated value of 1 billion Euros. Coman will be assigned as main contractor and be responsible for the entire construction as elucidated by a representative yesterday. She couldn’t clarify yet how the project will be devised.

A letter of intent will also be signed today between the Turkish Gürsu and the City of Stein for a business-to-business platform.

The before mentioned occurrences will take place during the official opening of the new head office of Coman Engineering & Contracting in Elsloo. Coman Engineering & Contracting has arisen from a management buy out in March this year by the stock-listed company Grontmij.

Apart from the head office in Elsloo, Coman Engineering & Contracting has subsidiaries in Germany, Poland, Croatia, Italy, Russia, Turkey and Georgia.