European luxury residential developer Mandarine Group has merged with rival firm La Perla International Living.

Mandarine Group will adopt the name La Perla International Living name.

The two groups and their major shareholders signed a memorandum of understanding

and this week a governance and shareholders’ agreement was entered into.

Morocco to Vietnam

The new group will strengthen its position in Morocco and will a have presence in

Spain, France, Austria, Switzerland, Antigua, Panama and Vietnam.

Jean Marie Santander, president of Mandarine Group said: ‘This strategic

partnership with one of the leading luxury real estate players confirms the bold

strategy of the founders of the Mandarine Group. I am convinced that the new group

created by this partnership will benefit from the combination of strength and expertise

of the Mandarine Group and of La Perla International Living.’

The La Perla International Living group was founded in 1995 in Amsterdam. La Perla International Living has 14 developments in France, Antigua, Spain, Panama and Vietnam and has 19 new projects in the pipeline.