I.D.M., a subsidiary of Atenor Group, and Optima Financial Planners signed an agreement with respect to transfer of the remaining phases of the project Media Gardens, which comprises 206 apartments, spread out over four buildings.
The entire project Media Gardens consists essentially of 281 apartments, spread out over several buildings with four to six floors, in a green environment. The site, with a total surface of 1,2 hectares, situated between the Chaussée de Louvain and the Rue Henri Evenepoel, is located near Meyser square, one of the major access routes to Brussels. At an earlier stage, an agreement was already signed with Aedifica (Sicafi) with respect to the first phase (75 apartments, 6.947 m²) of the project Media Gardens.
The actual realization of the sale of the remainder of the project, which entails some further practical steps and which is subject to the suspending condition of obtaining a construction permit, will have a positive impact on Atenor Group's consolidated results for accounting years 2009 and 2010. Once the suspending condition is complied with and the transaction has entered a further stage, Atenor Group will communicate the anticipated calculated impact on the results to the market.