Business
Re: Opening of Lublin Plaza
Re: Opening of Lublin Plaza.
About this update from Plaza Centers N.v.
[{"type":"text","content":"\n Plaza Centers N.V.\n13 June 2007\n\n\n\n13 June 2007\n\n\n\n PLAZA CENTERS OPENS LUBLIN PLAZA IN POLAND\n\n\n\nPlaza Centers N.V. ('Plaza' or the 'Company'), a leading Central and Eastern\nEuropean emerging markets property developer, today announces that it has\ncompleted and opened to the public the Lublin Plaza Shopping and Entertainment\ncentre in the heart of Lublin, a city with over 350,000 residents situated in\neastern Poland.\n\n\n\nThe Lublin Plaza is located in the city centre of Lublin and comprises 26,000\nsqm of Gross Lettable Area, with adjacent parking facilities for 690 vehicles.\nOn opening, the development was 100% occupied by international and local\ntenants. Lublin Plaza is the first shopping centre in Lublin to combine shopping\nwith an entertainment elements.\n\n\n\nAs specified in the Company's Admission Document, Plaza holds a 50% interest in\nthe Lublin Plaza property, the remaining 50% being held by an unrelated joint\nventure partner. The management of the development and construction of Lublin\nPlaza was controlled solely by Plaza.\n\n\n\nAs disclosed in the Company's admission document, The Klepierre Group, a leading\nFrench property group, has an option to acquire the Lublin Plaza property, and\nagreement has been reached in principle to execute this transaction in the near\nfuture. The formal handover and final completion of this transaction are\nexpected to take place within the next few weeks. On completion of the\ntransaction, a further announcement will be made to shareholders.\n\n\n\nCommenting on the opening, Ran Shtarkman, President and CEO, Plaza Centers N.V.\nsaid:\n\n\n\n'This is the third centre we have opened in Poland in 2007, all of which\nwere100% occupied on opening, and is also the seventh centre we have opened in\nPoland since we began operating in Poland in 2000. The opening of Lublin\nfurther demonstrates Plaza's track record of meeting its delivery targets and\nits ongoing ability to attract strong international and local retail tenants to\nlease space in its centres.\n\n\n\n'We look forward to updating our investors once the final completion of the sale\nof the property to Klepierre has taken place.'\n\n\n\nFor further details please contact:\n\nPlaza\nMordechay Zisser, Chairman +972 3 6086000\nRan Shtarkman, President and CEO +36 1 462 7221\nRoy Linden, CFO +36 1 462 7105...