Irish property development and investment group Ballymore Properties has spent €155 million on 93,000 square feet of mixed-use real estate on Kurfurstendamm in Berlin.

The Kudamm Karee is a retail, office, restaurant, residential, theatre and car park space on the most important shopping street in the German capital.

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Sean Mulryan, Chairman and Chief Executive of Ballymore, said: "This is a stunning location in the very heart of one of the great cities of the world. We plan to further develop and enhance the Kudamm Karee to make it an appealing destination for Berliners and visitors alike. This demonstrates our global focus on large scale mixed use developments in prime locations."

Ballymore is one of the largest developers in London, with significant interests in the UK, Ireland and Central and Eastern European countries.

The company, which is privately owned, has principal offices in London and Dublin.

(JM)