Article: General Growth Properties, Inc. Partners with German Developer to Build a Shopping Center Platform In Turkey.

CHICAGO -- General Growth Properties, Inc. (NYSE:GGP), the country's second largest owner and developer of regional shopping centers, announced today an agreement to enter into a joint venture with Hamburg-based ECE Projektmanagement G.m.b.H. & Co. KG, Europe's leading developer of urban shopping centers. Under the terms of the joint venture, the two developers have formed CURA GGP Gayrimenkul Gelistrime A.S. to invest in shopping center development and acquisitions of existing shopping centers in Turkey on a 50/50 basis, and will begin construction of their first joint project in March 2006. General Growth also has acquired from ECE 48 percent of ECE Turkiye Proje ...

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