UPDATE 1-Developer Orco plans to list in Budapest and Warsaw

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PRAGUE, Oct 31 (Reuters) - Real estate developer Orco Property Group <ORCO.PA> plans to list on the Budapest and Warsaw stock exchanges in the first half of next year, the company said on Tuesday.

Orco, which builds and operates residential and commercial properties across central Europe, is listed in Paris and Prague.

"Listing on (Budapest and Warsaw) stock exchanges will bring Orco further opportunity to increase property and improve internal indicators," the Luxembourg-registered company said in a filing with the Prague bourse.

Orco expects 2006 revenue to reach 200 million euros ($254.4 million) and predicts 2007 revenues will grow to 300 million euros. It has market capitalisation of about $830 million, according to Reuters data. ((Reporting by Marek Petrus; Editing by Rory Channing; Reuters Messaging: rm://marek.petrus.reuters.com@reuters.net; e-mail: prague.newsroom@reuters.com or marek.petrus@reuters.com; Tel: +420 224 190 477)) ($1=.7860 Euro)

Keywords: PROPERTY ORCO LISTING