EnglishPlaza Centers N.V. has acquired a 20,000 sqm site in Slatina. The company plans to build a shopping and entertainment centre with approximately 25,000 sqm of built area, plus 450 parking places. In addition, the site comes with an option to develop approximately 10,000 sqm of residential accommodation, which the company may consider selling to a third party. Plaza"s total investment in the Slatina scheme is expected to be approximately 24.5 Million EUR.
This project is Plaza"s fifth development project in Romania since it commenced operations in the country in November 2006. The company"s other schemes in Romania include projects at Iasi, Timisoara, Miercurea Ciuc and, most significantly, its landmark Casa Radio scheme in the heart of Bucharest, which comprises more than 500,000 sqm of built area including shopping, leisure, office, conference facilities and parking places.
Ran Shtarkman, CEO, Plaza Centers N.V. "We believe the Romanian property sector is set to enjoy a long period of steady growth, backed by growing demand from occupiers and increasing interest from international investors in institutional grade assets in the region."
Plaza Centers N.V. is a leading emerging markets developer and an indirect subsidiary of Elbit Medical Imaging Ltd., an Israeli public company listed on both the Tel Aviv Stock Exchange in Israel and NASDAQ in the US. Plaza Centers has been present in real estate development in emerging markets for over 11 years.
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