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Agua Terra Ltd
- BY: Andrew Hore |
- POSTED: 22/07/2009 |
- COMMENTS: Add yours
BVI-registered property developer Agua Terra Ltd has agreed pre-sales on two villas at its Mykonos Azure project.
These sales will be worth €3m, or just over €10,000 per square metre. The pre-sales depend on finance being obtained by the buyers and they expire on 12 December 2009.
Notorial contracts will be signed when planning approval is obtained.
Agua Terra, which is a developer and operator of mixed-use leisure property projects in Greece and Cyprus, joined Aim on 3 October 2008 at an introduction price of €2 a share. That valued the company at €9.06m. The shares closed the first day’s trading at €2.05 and have stayed there ever since.
Agua has spent most of its cash on the Mykonos Azure development site and had €79,000 in the bank at the end of 2008.
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