Plaza Centers buys 3rd Serbian mall development

Plaza Centers noted that this is the company's third development in Serbia, since it entered the market earlier this year. In August, it won a Serbian government tender to build a 100,000-square meter mall and business center in Belgrade, and in November, it bought a lot for a 35,000-square meter mall in Kragujevac.

Plaza Centers president and CEO Ran Shtarkman said, "In acquiring our third development project in Serbia in only four months, we are demonstrating our firm belief in the exciting prospects for the region. The economic growth in Serbia will encourage strong demand for large-scale, mixed use developments from commercial occupiers and visitors."

On Monday, the company opened the Plzen Plaza Shopping and Entertainment Center in Plzen, Czech Republic. The 20,000-square meter mall is full occupied. The mall has a gross estimated value of €61.8 million. The property has been sold to Klepierre SA (Euronext:KPR), as part of a larger transaction, and the handover is due during the first quarter of 2008.

Plaza Centers rose to ₤2.14 in morning trading today, giving a market cap of ₤627 million.

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source: globes.co.il