December 18, 2017 / 9:11 AM / a month ago

BRIEF-Vantage Development, Rank Progress To Cooperate On Investment

Dec 18 (Reuters) - Vantage Development SA:

* SAID ON SATURDAY THAT IT HAS SIGNED AN INVESTMENT AGREEMENT WITH RANK PROGRESS SA ON JOINT REAL ESTATE PROJECT IN WROCLAW

* THE PARTIES PLAN TO BUILD A PROJECT FOR A TOTAL OF ABOUT 2,400 APARTMENTS AND COMMERCIAL PREMISES

* THE TOTAL VALUE OF THE RIGHT OF PERPETUAL USUFRUCT FOR THE REAL ESTATE IS 159.6 MILLION ZLOTYS

* THE INVESTMENT WILL BE CARRIED OUT BY SPECIAL PURPOSED VEHICLE COMPANIES, IN WHICH VANTAGE WILL TAKE 55 PERCENT STAKE, WHILE RANK PROGRESS 45 PERCENT

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Further company coverage: (Gdynia Newsroom)

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