CpiFim

Regulatory Filings • Jul 29, 2009

Press Release

Orco's residence project Citadela is handed over to its clients

Prague, July 29th 2009 -- Orco Property Group, an investor, developer and asset manager in the Central European real estate and hospitality market, is pleased to inform that its residential project Citadela, located in Prague 4 has received occupancy permit. 76 % of all units in Citadela have been already sold and its clients can start to move in very soon.

Citadela is situated in an attractive residential area Nové Dvory in Prague 4 close to Kunratice Forest and a local lake and therefore perfectly meets the requirements for living by the centre and, at the same time, surrounded by nature. It is one of the most-sought-after areas in the whole capital offering a wide range of sports and leisure opportunities.

"We are very proud of our sales team at Orco. Such percentage rate of sales is unheard of in today's market and gives us confidence that our products meet both the quality and the aesthetic needs of our clientele," said Jason Cahill, Sales and Marketing Director of Orco Property Group

Citadela is a unique housing scheme reflecting current dynamic lifestyle and representing European residential standard of a large city. There are 100 apartments ranging from 1+kk to 4+kk of between 36 – 90 sqm. Each apartment comes with a balcony, terrace or front garden depending on its position. Parking places and cellars are situated in two underground floors. State-of-the-art architectural solutions of interiors and common areas, high-quality materials and up-to-date service facilities will provide future inhabitants with ideal living conditions and ensure high future value of the investment.

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For more details, please, visit www.orcogroup.com or contact: Ms Petra Zdenkova, Tel: +420 226 502 256, email: pzdenkova@orcogroup.com