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| Orco Germany develops new "Mitte" of Berlin  The real estate company Orco Germany has acquired the site in the centre of Berlin that used to be the Wertheim complex. This new development will fill the most important gap between the centres of East and West Berlin. With a land area of more than 22 000 m² the project will be carried out directly on Leipziger Platz right next to Potsdamer Platz. Viterra Development, a subsidiary of Orco Germany, will be responsible for the project management.The planned area of 88 000 m² enables varied use to be made of office and retail space as well as residential units and hotels. What was once the Wertheim complex and is not being used at present is the last site available for development in the new "Mitte" of Berlin. The new "Mitte" is considered to be the top address for national and international companies and customers. The Sony Center, the DaimlerChrysler quarter and the Beisheim Center are right next to Leipziger Platz. Orco paid € 75 million for the site, thus a price per constructible square meter 20% lower than recent transactions in the area. Orco Germany is a subsidiary of Orco Property Group, which is one of the leading European property companies with a property portfolio of about EUR 1 billion. The company was established in 1991, is based in Luxembourg and has Euronext and Prague Stock Exchange listings. It operates mainly in the Czech Republic, Hungary, Poland, Russia, Croatia, the Slovak Republic and Germany. write your comments about the article :: © 2006 Construction News :: home page |