Plaza Regulatory News (PLAZ)

9 Nov 2007 09:00

Plaza Centers N.V.09 November 2007 9 November 2007 PLAZA CENTERS MAKES SECOND ACQUISITION IN SERBIA Plaza Centers N.V. ("Plaza" or the "Company"), a leading emerging marketsproperty developer, today announces that it has entered into an agreement tosecure a circa 24,000 sqm plot in Kragujevac (the "Site"), a city of 180,000inhabitants, in Serbia. Kragujevac is the administrative centre of the Sumadija district and the fourthlargest city in Serbia. Plaza plans to build a new shopping and entertainment centre on the Site, with atotal built area of 35,000 sqm, plus 875 parking spaces. The total cost of thedevelopment is anticipated to be approximately €55 million. The acquisition represents Plaza's second transaction in Serbia and a furtherstep in its strategy to consolidate its position in the region of South EasternEurope which it considers to offer strong potential. Commenting on the acquisition, Ran Shtarkman, CEO, Plaza Centers N.V. said: "We are delighted to have been able to identify and secure a second developmentproject in Serbia so soon after our first transaction in Belgrade was announcedin August. "Serbia is poised to experience strong economic growth which, we believe, willgenerate strong demand for large-scale, mixed use developments from commercialoccupiers and visitors alike. This, combined with growing investment interest ininstitutional grade commercial property assets in Serbia from internationalinvestors, should leave us well positioned to deliver strong returns to ourshareholders. "In addition, we are excited to be taking an active role in the delivery of newcommercial and cultural destinations for Serbia, both in Belgrade and otherleading cities in Serbia such as Kragujevac." Ends For further details, please contact: PlazaRan Shtarkman +36 1 462 7221Roy Linden +36 1 462 7105 Financial DynamicsStephanie Highett/Lauren Mills/Laurence Jones +44 20 7831 3113 Notes to Editors Plaza Centers N.V. (www.plazacenters.com) is a leading emerging marketsdeveloper of shopping and entertainment centres. It focuses on constructing newcentres and, where there is significant redevelopment potential, redevelopingexisting centres in both capital cities and important regional centres. TheCompany is dual listed on the Main Board of the London Stock Exchange and, as of19 October 2007, the Warsaw Stock Exchange (LSE : PLAZ, WSE: PLZ/PLAZACNTR)Plaza Centers N.V. is an indirect subsidiary of Elbit Medical Imaging Ltd. ("EMIL"), an Israeli public company whose shares are traded on both the Tel AvivStock Exchange 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 undertaken real estatedevelopment in emerging markets for more than 11 years. Plaza in Serbia In August 2007, Plaza announced that it had won a competitive tender from theGovernment of Serbia for the development of a new shopping, entertainment andbusiness centre with a total built up area of circa 100,000 sqm (with over 2,000parking spaces) in Belgrade, Serbia. The new complex will be located on the prominent site of the former FederalMinistry of Internal Affairs, situated on the main street which runs through thecentre of Belgrade. The area is home to foreign embassies, including those ofthe United States, Canada, Germany, Poland among others. In addition the SerbianGovernment, Ministry of Finance, Belgrade chamber of commerce and Belgrade'slargest public hospital are all nearby, as well as the city fair and the futureplanned railway station. Plaza will partner a local Serbian developer for the project, which is expectedto have a gross development budget of €150 million. The local partner will beentitled to participate in up to 15% of the project, subject to certainconditions while the project management will be rendered solely by Plaza. This information is provided by RNS The company news service from the London Stock Exchange