PRAGUE (Thomson Financial) - Orco Property Group said its Croatian subsidiary signed an agreement with local officials marking the beginning of its 100 million euros 'Obonjan Riviera' project.
The central European property developer said the tourism project, based on the BOT (Build-Operate-Transfer) model, will generate its first proceed in 2012, with 'revenues in 2014 estimated at approximately 16 million euros and later stabilised at 20 million euros.' jason.hovet@thomson.com +420 222 191 109 jrh/ajb COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.