CTP and UniCredit have signed a contract
CTP and UniCredit have signed a contract yesterday for €34.5 mln for
the construction and financing of our prestigious IQ Ostrava office project. IQ Ostrava is one of our flagship projects in the centre of Ostrava, with construction starting this year due for completion in 2012. After CTP successfully rented 70% of the project to Tieto, CTP agreed with UniCredit to finance the construction of the building and subsequently to provide an investment loan for long term financing. Our plan is to extend the number of our financial partners from 5 to 8 by the end of this year. We are proud to announce that we have agreed the financing with UniCredit, a new and strong financial partner for our projects. The goal of CTP is to grow our rental income from €94 mln in 2010 to €105 mln in 2011. The new financing from UniCredit will support achieving this goal.
CTP is currently in the final stage of preparation of new projects
to be developed this and next year and plans that cooperation with
UniCredit will be further extended.