13th Jun 2007 07:01
Plaza Centers N.V.13 June 2007 13 June 2007 PLAZA CENTERS OPENS LUBLIN PLAZA IN POLAND Plaza Centers N.V. ("Plaza" or the "Company"), a leading Central and EasternEuropean emerging markets property developer, today announces that it hascompleted and opened to the public the Lublin Plaza Shopping and Entertainmentcentre in the heart of Lublin, a city with over 350,000 residents situated ineastern Poland. The Lublin Plaza is located in the city centre of Lublin and comprises 26,000sqm of Gross Lettable Area, with adjacent parking facilities for 690 vehicles.On opening, the development was 100% occupied by international and localtenants. Lublin Plaza is the first shopping centre in Lublin to combine shoppingwith an entertainment elements. As specified in the Company's Admission Document, Plaza holds a 50% interest inthe Lublin Plaza property, the remaining 50% being held by an unrelated jointventure partner. The management of the development and construction of LublinPlaza was controlled solely by Plaza. As disclosed in the Company's admission document, The Klepierre Group, a leadingFrench property group, has an option to acquire the Lublin Plaza property, andagreement has been reached in principle to execute this transaction in the nearfuture. The formal handover and final completion of this transaction areexpected to take place within the next few weeks. On completion of thetransaction, a further announcement will be made to shareholders. Commenting on the opening, Ran Shtarkman, President and CEO, Plaza Centers N.V.said: "This is the third centre we have opened in Poland in 2007, all of whichwere100% occupied on opening, and is also the seventh centre we have opened inPoland since we began operating in Poland in 2000. The opening of Lublinfurther demonstrates Plaza's track record of meeting its delivery targets andits ongoing ability to attract strong international and local retail tenants tolease space in its centres. "We look forward to updating our investors once the final completion of the saleof the property to Klepierre has taken place." For further details please contact: PlazaMordechay Zisser, Chairman +972 3 6086000Ran Shtarkman, President and CEO +36 1 462 7221Roy Linden, CFO +36 1 462 7105 Financial DynamicsStephanie Highett/ Dido Laurimore/ Adam Leviton +44 20 7831 3113 Notes to Editors Plaza Centers N.V. (www.plazacenters.com) is a leading emerging marketsdeveloper of shopping and entertainment centres, focusing on constructing newcentres and, where there is significant redevelopment potential, redevelopingexisting centres, in both capital cities and important regional centres. TheCompany is an indirect subsidiary of Elbit Medical Imaging Ltd. ("EMIL"), anIsraeli public company whose shares are traded on both the Tel Aviv StockExchange in Israel and the NASDAQ Global Market in the United States. Plaza Centers is a member of the Europe Israel Group of companies which iscontrolled by its founder, Mr Mordechay Zisser. It has been present in realestate development in emerging markets for over 10 years. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Plaza